Showing results for:

Exploration

Offshore drilling making comeback with low-cost targets like Stabroek

OilNOW -
Producing 120,000 barrels of oil per day from the Permian basin would require a $12.8 billion investment while hitting the same volume from Guyana’s Stabroek Block require just $3.7 billion for the first phase of the Liza Development project. John...
News

TechnipFMC snags EPCI contract for Eni’s Merakes project

OilNOW -
TechnipFMC has been awarded a large integrated Engineering, Procurement, Construction, Transportation and Installation (iEPCI™) contract by Eni for the Merakes project, located offshore Balikpapan Indonesia, at a water depth of approximately 1,500 meters. This contract covers five deepwater wells, and...
News

TechnipFMC setting up new service facility in Guyana

OilNOW -
ExxonMobil’s prime contractor for the manufacturing and installation of subsea equipment, TechnipFMC, days ago broke ground on its new location at Houston, on the East Bank of Demerara in Guyana. According to ExxonMobil Guyana, the new TechnipFMC location will initially...
News

Political discord hindering Guyana’s preparations for oil – Nigel Hughes

OilNOW -
Guyanese Attorney–At–Law, Nigel Hughes, believes that uncertainty surrounding the current political climate in the South American country following the December 21 passage of a no-confidence motion against the government is hindering its ability to effectively prepare for the start...
News

Guyana, Brazil pushing FPSO demand through 2025 – Rystad Energy

OilNOW -
From 2019 to 2021 Rystad Energy expects 33 FPSOs to be sanctioned as oil and gas activity picks up in the offshore sector.  15 of the FPSOs will require a production capacity above 80,000 barrels/day. This high capacity demand comes...
Exploration

Venezuela oil production could fall below 700,000 bpd by 2020

OilNOW -
As Guyana prepares for first oil in 2020 from the Liza Phase 1 Development, and multiple additional projects on the horizon, with an estimated ramp up to 750,000 bpd by 2025, its western neighbor Venezuela, could see production drop...
News

Busy year ahead for ExxonMobil Guyana as country gallops to first oil

OilNOW -
2019 will be a ‘very busy year’ for ExxonMobil in the new South American oil and gas hotspot of Guyana, as exploration activities are ramped up and work intensifies in preparation for first oil by 2020. “We are currently drilling two...
News

TechnipFMC’s Chairman calls it a day

OilNOW -
ExxonMobil Guyana Prime Contractor – TechnipFMC, announced on Wednesday that the company’s Executive Chairman, Thierry Pilenko has decided to retire from the Board of Directors, effective May 1, 2019, after the Company’s Annual General Meeting. Mr. Pilenko was appointed Executive...
News

CNOOC Limited’s Egina Field commences production

OilNOW -
CNOOC Limited, a 25 percent stakeholder in Guyana’s prolific offshore Stabroek Block along with ExxonMobil (45 percent) and HESS (30 percent), announced on January 2, 2019 that its Egina Field, located in deepwater offshore Nigeria, has commenced production. The company...
News

Hess expects free cash flow generation by 2022 – John Hess

OilNOW -
CEO of HESS Corporation John Hess said that despite the volatility in oil prices and the decline of financial markets, Hess has not changed its long-term strategy with a focus on executing it to deliver value to its shareholders...
1...116117118...125Page 117 of 125

Latest News

NewsOilNOW -

Guyana’s AFC party promises transparency, amended contracts in oil sector if it wins elections

Guyana’s Alliance for Change (AFC) political party is promising oil and gas transparency reforms and a review of existing...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

Quick Access

Company Info

Social Networks