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Exploration

Exploration plans cover 31 wells offshore Guyana – region in need of jackups

OilNOW -
South America is home to several regions of offshore expansion, with few basins currently displaying more growth potential than the Guyana Suriname Basin. Exploration in this area continues to impress and the list of oil and gas participants is...
News

Exxon looking to move ahead with 4th development at Stabroek Block

OilNOW -
ExxonMobil, operator at the 6.6 million acres Stabroek Block offshore Guyana is looking to move ahead with its fourth development in the South American country at the Hammerhead field. This latest development will follow the Liza Phase 1 and...
News

Guyana seeking firm to market Liza Crude

OilNOW -
Guyana’s Department of Energy (DE) has put out a request for Expressions of Interest (EOI) from companies looking to provide marketing services to the country for its share of crude from the Liza Phase 1 Development. The duration of services...
Exploration

Liza Crude going to market 1 to 2 months in advance of production

OilNOW -
Crude being produced at the Liza Phase 1 Development offshore Guyana is being sold one to two months in advance, which is around the same time-frame as a number of competing countries in West Africa. Production started last December at...
Exploration

Most competitive deepwater projects will be those with shortest development cycle times – IHS Markit

OilNOW -
From discovery in 2015 to production in 2019, the Liza Phase 1 development offshore Guyana is considered to be one of the fastest deepwater project ramp-ups in the industry’s history. London–based IHS Markit said in a report this month...
News

Over GY$45B expended on local suppliers since 2015 in S/America’s newest oil producing nation

OilNOW -
Since the world class Liza discovery in 2015, ExxonMobil has expended more than GY$45 billion on local suppliers in the South American country of Guyana. The company said Wednesday in an activity update that more than 700 Guyanese vendors...
News

Guyana’s share of Liza crude to be traded at around minus $1.50/b versus Dated Brent

OilNOW -
Oil production at the Stabroek Block offshore Guyana will see the South American country cashing in on 5 million barrels of oil in 2020 plus 2 percent royalty on all crude produced at the Liza Phase 1 Development. “I am...
Exploration

Liza field leading investments at prolific Stabroek Block

OilNOW -
Capital expenditure by project offshore Guyana sees the Liza field at the 6.6 million acres Stabroek Block leading the pack through 2030 having already surpassed US$3 billion in investments for 2019. “The 2015 Liza find has completely rewritten the script...
News

SBM Offshore reports positive performance for 2019; Liza Destiny FPSO delivery is key milestone

OilNOW -
CEO of SBM Offshore Bruno Chabas said 2019 was a positive year for the company, noting that expectations for an offshore industry rebound materialized and coincided perfectly with the company’s readiness to meet demand. He also called the commencement...
News

Guyana has produced over 2.7 million barrels of oil to date; gov’t’s 1st lift due next week

OilNOW -
Over 2.7 million barrels of oil have been produced to date from the Liza Phase 1 Development and the Guyana government is gearing up to lift its first 1 million barrels by early next week. Director of the Department of...
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MODEC spent US$3.4 million with Guyanese suppliers in 2024

Japanese company MODEC reported in a press statement today that it spent US$3.4 million procuring goods and services from...

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