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Exxon, other majors boost demand for FPSOs as deepwater drilling takes off – Rystad Energy

OilNOW -
Demand from the world’s top oil companies for floating drilling units has climbed steadily in the past two years and is set to rise further through 2020 and 2021. Norway-based Rystad Energy said this trend is a result of the...
Exploration

Hess plugs over 80% of its 2020 E&P budget into Guyana, Bakken

OilNOW -
Hess Corporation on Tuesday announced a $3 billion Exploration and Production capital and exploratory budget, of which more than 80% will be allocated to high return investments including Guyana. In a press release, Hess said that the $3 billion budget...
News

Guyana deepwater off to spectacular 2020 start

OilNOW -
The new year began in Guyana with the first oil lift followed by ExxonMobil’s 16th discovery and the addition of more than 2 billion barrels of recoverable oil resource at the 6.6 million acres Stabroek Block. All this good news come...
Exploration

Potential for giant oil and gas fields remains greatest on South America’s Atlantic margin

OilNOW -
The presence of giant oil and gas fields in South America, stretching all the way from the Santos basin in the south to the Guyana-Suriname basin to the north, have long been known, with estimates of tens of billions...
News

Guyana offshore is like a ‘city lit up at night’ – Liam Mallon

OilNOW -
In just four years the deepwater off the coast of Guyana has seen a significant uptick in traffic with the ramp up of exploration in the prolific Stabroek Block and the preparation and start of the Liza Phase 1...
News

DE to collaborate with transparency body for disclosures on Guyana’s oil sales

OilNOW -
As the Guyana government prepares to sell its first oil lift from the Liza Phase 1 development in the prolific offshore Stabroek Block, the Department of Energy sees collaboration with the Guyana Extractive Industries Transparency Initiative (GYEITI) as integral...
News

Guyana enters new era as first oil cargo exported

OilNOW -
Guyana’s journey as an oil producer has just begun and promises to bring massive transformation to the tiny South American country. The oil tanker Yannis P set sail on Monday with the first 1 million barrels of oil to...
News

Guyana oil production could’ve started in 2024 – Liam Mallon

OilNOW -
Average industry performance would’ve seen Guyana becoming an oil producing nation until almost the middle of the decade if efforts to safely fast-track the Liza Phase 1 Development were not made by stakeholders. Speaking to a room filled with guests...
News

OPEC names Guyana in ‘growing supply threat from rivals’ forecast

OilNOW -
The Organization of Petroleum Exporting Countries (OPEC) in its latest forecast points to a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices. In...
News

CNOOC targeting 227 exploration wells in 2020

OilNOW -
CNOOC Limited plans to ramp up its exploration programme in 2020 as multiple projects come on stream, including the Liza Phase 1 Development in Guyana’s Stabroek Block where the company has a 25% stake. The Company’s targeted net production for...
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Guyanese soldiers repeatedly attacked by armed men on Venezuelan shore during river patrols on Wednesday

The Guyana Defense Force (GDF) said on Thursday that its troops came under attack by armed men in civilian...

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