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Exxon’s 5th Guyana project targeting 3 of the world’s largest discoveries, totaling 1.3 billion barrels

Kemol King -
ExxonMobil’s Uaru development is targeting approximately 1.319 billion barrels of oil, making it the largest project the company will be undertaking to date at the Stabroek Block offshore Guyana. The projects already approved and sanctioned offshore the South American country...
Opinions

The Production Sharing Agreement, Renegotiation, and the Stability Clause (Part 1)

OilNOW -
By Joel Bhagwandin - OilNOW Summary The full project lifecycle of the oil and gas business is around 30 years or more. During the exploration and development stage which may span about 20 years before production, the oil companies continuously...
News

Production data for Liza, Unity Gold Crude show output peaked at 365,000 bpd in June

OilNOW -
Guyana’s Ministry of Natural Resources (MNR) developed a special website in 2021 as part of its Petroleum Management Programme, dedicated to making information about the country’s oil and gas sector publicly available. The platform, since May 2021, has been...
News

Exxon hires second tug from KOTUG to support Liza field production facilities

OilNOW -
ExxonMobil Guyana affiliate, Esso Exploration and Production Guyana Limited (EEPGL), has contracted a second tug from towage and maritime company, KOTUG, to support operations in the Liza field, KOTUG said. The “SD Power”, which has been in use offshore Guyana...
Exploration

Exxon to spend more than US$100 billion through 2027 to meet world’s energy needs

OilNOW -
ExxonMobil expects to invest over US$20 billion annually to help meet the world’s growing energy needs through 2027. That's more than US$100 billion in the next five years. This will amount somewhere between US$21 billion and US$24 billion this...
News

Hess sold 6 million barrels of Liza crude in Q2, expects 75,000 bpd for remainder of year

OilNOW -
Hess Corporation, which holds a 30% working interest in Guyana's coveted Stabroek Block, told industry watchers on Wednesday morning that it sold six one-million barrel cargos of sweet crude oil from Guyana for the second quarter of 2022. This...
Industry Insight

Guyana oil revenues to break US$1 billion mark this year; exceed US$7.5 billion by 2030 – Rystad Energy

OilNOW -
Bolstered by ExxonMobil’s industry leading production and development pace in the Stabroek Block, Guyana’s oil and gas revenues are on track to break the US$1 billion mark this year and accelerate to US$7.5 billion annually in 2030, research by Rystad Energy shows. The independent...
News

SBM Offshore completes US$1.75 billion financing for Guyana’s biggest floater

OilNOW -
Builder of Guyana’s floating production, storage and offloading (FPSO) vessels, SBM Offshore, announced Thursday that it completed project financing for the ONE GUYANA vessel to be used for the Yellowtail project. The FPSO project costs US$1.75 billion; SBM Offshore said...
News

Guyana modernising transport infrastructure in region set for major development

OilNOW -
As the growth of Guyana's oil and gas sector fuels development in areas where service centers are erected, the government is moving to upgrade and modernise supporting infrastructure – particularly for the transport sector. Through the Central Housing and...
News

Payara development work progressing, will push output above 580,000 bpd

OilNOW -
Preparations are underway for ExxonMobil’s third oil production project offshore Guyana at the Payara field. The Maritime Administration Department said in a notice the developmental area is situated approximately 102.27nautical miles (189.4 kilometers) from the Coast of Guyana and covers...
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SBM sponsors international trips, science equipment for winners of Guyana mousetrap competition

SBM Offshore Guyana’s 2025 Guyana-Monaco Mousetrap Car Grand Prix Competition wrapped up with an impressive display of creativity, problem-solving...

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