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Exploration

Guyana ‘uniquely advantaged by scale, reservoir quality, cost and rapid returns’ – Hess

OilNOW -
The more than 4 billion oil-equivalent barrels discovered to date in the Stabroek Block offshore Guyana is uniquely advantaged by its scale, reservoir quality, cost, rapid cash paybacks and superior financial returns. John Hess, Chief Executive Officer of Hess Corporation...
News

Third drillship to arrive in Guyana by year-end; ExxonMobil still to decide on contractor

OilNOW -
As exploration and production activities continue to ramp up offshore Guyana, US oil major ExxonMobil will engage another drillship to aid in the search for more oil. This vessel will be the third such drillship, joining the Stena Carron...
News

‘We are not embarrassed about who we are’ says Guyana’s Natural Resources Minister

OilNOW -
US Oil Company, ExxonMobil’s announcement on Monday that the updated total estimated recoverable resources for the Stabroek Block, offshore Guyana now stand at more than 4 billion oil-equivalent barrel is a “big deal for Guyana.” This is the view of the country's...
News

ExxonMobil estimate now exceeds 4 billion barrels; eyeing 750,000 bpd

OilNOW -
ExxonMobil Corporation said on Monday its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana has increased to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development...
News

Hess sells off interest in Utica shale to help fund Guyana, Bakken projects

OilNOW -
Hess Corporation (NYSE:HES)  announced on Friday that it has entered into an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash consideration of approximately $400 million, effective April 1. “We continue to focus our...
News

Third drillship for Guyana waters as 500 mmbl more added to bounty

OilNOW -
Country Manager of ExxonMobil Guyana, Rod Henson, says the eighth oil find offshore Guyana leading to the addition of more than 500 million barrels of oil to the current estimated recoverable reserves which exceed 3.2 billion barrels will see...
News

ExxonMobil makes 8th discovery in Guyana

OilNOW -
Exxon Mobil Corporation (NYSE:XOM) said on Wednesday it made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. ExxonMobil encountered approximately 256 feet (78 meters)...
News

Report: Guyana’s deepwater areas will remain competitive, despite changes to fiscal terms

OilNOW -
Guyana's deepwater investment climate is expected to remain regionally competitive over the next five years, despite the South American country's plans to adjust its upstream fiscal regime and to establish a national oil company (NOC). A report released on May...
Opinions

Letter-to-the-Editor: Importance of sharing accurate information on Guyana’s burgeoning oil and gas industry

OilNOW -
Dear Editor In an article that appeared in the Kaieteur News on Sunday, June 10, which quoted Charles Ramson Jr., it was suggested in the report that the GYD$10B spent in Guyana with local companies is minuscule. The article was...
News

Guyana told: Petroleum revenues volatile; prepare for shocks – Norwegian Economist

OilNOW -
Guyana continues to receive advice from experts in the field of revenue management who point to the vital importance of establishing a Sovereign Wealth Fund (SWF) with strong fiscal rules in order to effectively manage the billions of US...
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GranMorgu FPSO construction hits 27% as Suriname targets first oil by 2028

Construction of the floating production, storage and offloading (FPSO) platform for Suriname’s GranMorgu project has reached 27%, state oil...

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