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Guyana’s revenue take pegged at 60% as production set to hit 1.2 million bpd – Rystad Energy

OilNOW -
The economic fortunes of Guyana, with a population of only around 800,000, are poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil production is expected to grow rapidly in the...
News

ExxonMobil earns $14.3B in 2019 as Guyana operations enter new chapter

OilNOW -
Exxon Mobil Corporation (NYSE:XOM) announced Friday its estimated fourth quarter 2019 earnings of $5.7 billion, or $1.33 per share assuming dilution. Earnings included favorable identified items of about $3.9 billion, or $0.92 per share assuming dilution, mainly a $3.7 billion...
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Guyana government will soon lift its first 1 million barrels of oil

OilNOW -
The government of Guyana in the coming days will lift its first share of oil from the Liza Phase 1 Development located 120 miles offshore at the 6.6 million acres Stabroek Block. Shell Western Supply and Trading Limited has been...
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Development drilling for giant Liza Phase 2 project set to begin next month

OilNOW -
Development drilling for the 220,000 barrels per day Liza Phase 2 project offshore Guyana will begin next month as US oil major ExxonMobil ramps up its operations at the 6.6 million acres Stabroek Block where more than 8 billion...
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Liza Unity floater will push Guyana’s total oil production to 340,000 bpd by 2022

OilNOW -
Double the capacity of the Liza Destiny FPSO, the Liza Unity – the vessel that will begin producing oil at Guyana’s second offshore development - is SBM Offshore’s first generic Multi-Purpose Floater (MPF1) hull in its series of hulls...
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Liza Phase 1 approaching 75,000 barrels per day

OilNOW -
Oil production at Guyana’s first ever offshore development – Liza Phase 1 - is ramping up with daily output now around 75,000 barrels per day. “Liza Phase 1 production continues to ramp up. Current gross production is approximately 75,000 barrels...
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Liza Phase 1 cost expected to be around US$1 billion below budget

OilNOW -
Development cost for the 120,000 barrels per day Liza Phase 1 project offshore Guyana has been reduced by close to US$1 billion according to an official of Hess Corporation, a 30 percent co-venturer at the 6.6 million acres Stabroek...
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Liza crude will attract interest from refineries as far away as China – IHS Markit

OilNOW -
Refineries in the US Gulf of Mexico (USGC) and China are expected to take particular interest in the crude being produced in the South American country of Guyana which IHS Markit expects will be discounted by $2 relative to...
News

ExxonMobil ups Guyana resource to more than 8 billion barrels; announces 16th oil discovery

OilNOW -
Director of Guyana’s Department of Energy, Dr. Mark Bynoe, today announced that ExxonMobil has made its 16th oil discovery offshore Guyana. The new discovery was made northeast of the producing Liza field at the Uaru well, on the Stabroek Block. This new...
News

Demand for oil will remain above 100 million barrels per day – Aramco CEO

OilNOW -
The global demand for oil is expected to remain over 100 million barrels per day according to Saudi Aramco CEO Amin Nasser, signaling good news for new producers such as Guyana. “There is good penetration from renewables and electric cars...
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GranMorgu FPSO to benefit from proven SBM Offshore design approach

PARAMARIBO, SURINAME –  The GranMorgu FPSO, being developed by SBM Offshore and Technip Energies for Block 58, will be...

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