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Launch of Liza Phase 2 pushes China’s oil giant production up by more than 28%

OilNOW -
China's offshore oil giant CNOOC offshore assets in South America, led by the Stabroek Block in Guyana and Brazilian Libra and Buzlos Surplus projects, have been identified as important sources of future reserve and production growth for the company, according...
News

Constructive relationship between Guyana and IOCs pushing rapid development of oil resources

OilNOW -
The Guyana government’s early approval in April of the US$10 billion Yellowtail Project is a testimony of the “constructive relationship” it has with the International Oil Companies (IOCs) operating at the Stabroek Block, says Hess Corporation’s Chief Executive Officer,...
News

Exxon hikes capacity at Liza Destiny, schedules Payara for early startup

OilNOW -
In addition to the announcement of three new discoveries on Tuesday, ExxonMobil Guyana bore more good news with its hiking of production capacity at Liza Phase One and scheduled first oil for the Payara project. Liza Phase One The company increased...
Discoveries

Exxon triple discoveries catapult Guyana resource base to almost 11 billion barrels

OilNOW -
ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to...
News

Over 50 development wells for Guyana’s biggest oil project

OilNOW -
The subsea umbilicals, risers, and flowlines (SURF) facilities for the Yellowtail project will be the largest to date offshore Guyana with over 50 development wells planned, making the contract for the supply and installation of this equipment among the...
News

Guyana to rake in around US$106M for first lift of Unity Gold

OilNOW -
As Guyana prepares to receive its first entitlement lift of Unity Gold from the Liza Phase Two development, government expects about US$106 million to be deposited into the Natural Resource Fund from its sale. “The usual lifting entitlement amount of...
Opinions

Guyana’s balancing act with gas-to-power development and climate action

OilNOW -
By Dr. Lorraine Sobers – OilNOW Natural gas has been accepted as a cleaner alternative to fuel oil for electricity generation for over eight decades. Guyana is now poised to make the switch from fuel oil to natural gas and...
News

Record 31 discoveries made offshore Guyana since 2015

OilNOW -
After encountering 45 dry holes over a period of 50 years, Guyana’s oil story has dramatically changed in just 7 years with the South American country hitting 31 discoveries offshore since 2015, most of which have been commercial finds...
Opinions

US$10B Yellowtail Project set to unleash a tsunami of economic benefits

OilNOW -
Apart from the profit oil and royalty the State stand to gain, ExxonMobil’s US$10 billion Yellowtail Project in the Stabroek Block which is set for first oil in 2025-2026, is poised to unleash a tsunami of economic benefits for...
News

First oil cargo from Liza Phase 2 arrives in US

OilNOW -
The first cargo from ExxonMobil’s Liza Phase 2 Development offshore Guyana has arrived in the US, according to domestic customs data, said Anthony Starkey, senior adviser, trade flow and modelling for S&P Global. Arrival date was March 29 aboard the...
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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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