The combined equity of the Guyana affiliates of ExxonMobil, Hess and CNOOC was US$18.6 billion at the end of 2023. This is a 52% increase from US$12.2 billion in the prior year, boosting the group’s capacity to respond to...

S&P Global estimates that recoverable resources of 18.7 billion barrels of oil equivalent (boe) have been discovered in the Guyana Basin since 2015.   S&P Global Commodity Insights analysts Fernanda Machado, Mariana Anjos and Jerry Jarvis said in a...

Lady Cherie Blair, founder of the Cherie Blair Foundation for Women, emphasized the vital role of women in Guyana's rapid development. Speaking on the Energy Perspectives podcast, Blair highlighted the impact of women's empowerment on economic progress. Blair's advocacy stems...

Eco (Atlantic) Oil & Gas plans to drill one exploration well at the Orinduik Block offshore Guyana in the first half of 2025.  The company said in a July presentation that it is focused on multi-million barrel stacked pay targets...

The oil and gas industry has long underpinned the global economy, with demand growing steadily except during the COVID-19 pandemic. New discoveries and massive oilfield reserves sustain global production, essential for meeting this demand. In May 2024, GlobalData conducted...

CIMC Raffles, a subsidiary of CIMC Group, has been awarded the engineering, procurement and construction (EPC) contract to supply the hulls for two new production vessels - P-84 and P-85 - by Seatrium.  These floating, production, storage and offloading vessels...

ExxonMobil is continuing exploration drilling at the Haimara-3 well site in the Stabroek Block offshore Guyana. The drilling, conducted by the Noble Sam Croft, will conclude on July 31, 2024, according to a notice by the Maritime Administration Department.  The...

MODEC Guyana is requesting contractor services for the annual maintenance and certification of the Environmental and Motion Monitoring System (EMMS) on the FPSO Errea Wittu.  This vessel is expected to initially produce 250,000 barrels of oil per day (b/d), inject...

The ExxonMobil-operated Stabroek Block was the site of two out of 12 high-impact discoveries of oil and/or gas made around the world in 2023, according to UK-based energy consultancy Westwood Global Energy Group. Westwood said during its State of Exploration...

ExxonMobil's Vice President in Guyana, Philip Rietema, said that the company's decision to withdraw from the Kaieteur Block last year was driven by the project's failure to meet ‘investment hurdles’ given the complex realities of oil and gas exploration.  “We...