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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

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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

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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...
News

Guyanese business group calls for swift implementation of local content framework

OilNOW -
The Private Sector Commission of Guyana (PSC) is calling for the swift implementation of a local content framework within which local businesses can operate and meaningfully benefit from opportunities in the emerging oil and gas industry. Speaking at the Liza...
News

Stabroek Block explorers have a lot riding on Guyana

OilNOW -
The expectations from the giant oil discoveries in Guyana continue to take centre-stage in the growth plans and projections of venture partners ExxonMobil, Hess and CNOOC. With a record 10 discoveries to date amounting to more than 5 billion barrels...
News

Longtail, Turbot, Pluma and Tilapia could be jointly developed with 220,000 bpd FPSO

OilNOW -
ExxonMobil and its partners Hess and CNOOC are turning their attention to the Tilapia prospect, located some 3.4 miles (5.5 kilometers) west of the Longtail-1 well in the prolific 6.6 million acres Stabroek Block offshore Guyana. Industry analyst Wood...
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What you need to know about the U.S. military build-up in the Caribbean

What began on August 14, when Washington ordered air and naval forces into the southern Caribbean reportedly to combat...

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