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Guyana government agreed to unitise Exxon’s Liza, Payara fields

OilNOW -
Guyana’s Minister of Natural Resources has revealed that the government agreed to let Exxon unitise the Liza and Payara fields, a step to allow a floating production, storage and offloading (FPSO) vessel from one field to tap oil from...
Industry Insight

Increased activity on Guyana FPSOs, rising variation orders counterbalance H1 revenue dip – SBM Offshore 

OilNOW -
SBM Offshore reported a 15% drop in directional revenue for the first half of 2023 amounting to US$1.4 billion.  The company said the decline in revenue was largely driven by a decrease in directional turnkey revenue, which dropped to US$558...
News

Shipyard building Guyana FPSOs records highest profit in 55-year history

OilNOW -
Singapore’s Keppel Corporation Limited (Keppel) reported a net profit of over S$3.6 billion for the half year ended 30 June 2023, the highest profit on record in the Company’s 55-year history. 1H23’s net profit was significantly higher than the...
News

Dalian shipbuilder to construct hull, living quarters for new Guyana FPSO

OilNOW -
MODEC has secured a significant agreement with Dalian Shipbuilding Industry Company (DSIC) to construct the hull for a new floating production, storage, and offloading (FPSO) vessel being built for ExxonMobil's Uaru development offshore Guyana. The DSIC, situated in Dalian City...
News

Liza 2 was second highest producing project in South America in 2022 – GlobalData

OilNOW -
Data analytics and information service, GlobalData, said ExxonMobil’s Liza Phase 2 project offshore Guyana had the second-highest oil and condensate production in South America in 2022. It expects the project to produce until 2043. Below is a chart showing the...
News

Exxon encouraged by prelim work on Guyana’s 5th FPSO as new builder enters market

OilNOW -
ExxonMobil made a shift from SBM Offshore to Mitsui Ocean Development & Engineering Company Inc. (MODEC) for its fifth production vessel - Errea Wittu.  While construction is in its early stages, Exxon remains confident that MODEC can deliver and match...
News

ExxonMobil’s Liza field surges to 45 million barrels in first four months of 2023

Kemol King -
ExxonMobil’s Liza field offshore Guyana produced more than 45 million barrels of crude in the first four months of 2023. This represents a 163% increase over the 17 million barrels produced in the same period last year.  Data from Guyana’s...
Opinions

FPSOs’ Role In Raising Guyana’s Position In The Market: What Does This Mean For Production and Revenues?

OilNOW -
By Cristina Caus - OilNOW On April 11, 2023, the floating production, storage and offloading vessel (FPSO) Prosperity arrived in Guyana and joined the other two FPSOs, Liza Destiny and Liza Unity. This became the third FPSO vessel that has...
News

Development drilling ramps up at Liza 2 well site

OilNOW -
Development drilling continues at ExxonMobil Guyana’s Liza site in the Stabroek Block with the Noble Tom Madden drillship.  Guyana’s Maritime Administration (MARAD) said activities commenced on May 6 and will end on June 30 with 29 additional support vessels.  The well...
News

Dutch FPSO builder SBM Offshore in 10-year maintenance deal with Stabroek Block operator

OilNOW -
SBM Offshore has announced a new 10-year Operations and Maintenance Enabling Agreement with ExxonMobil Guyana, for the operations and maintenance of floating production, storage and offloading (FPSO) vessels Liza Destiny, Liza Unity, Prosperity and ONE GUYANA.  This agreement has set...
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MODEC to introduce new offshore training programme in Guyana 

MODEC is expected to unveil a new training programme to bolster Guyana’s existing offshore capabilities, Country Manager Rafeal Fumis...

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