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Exploration

Guyana-Suriname Basin will be important to global energy transition – Hess VP Exploration

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In order for the energy needs of the world to be met, upstream investments will have to significantly increase in the coming years. Deepwater ‘advantaged barrels’ in locations such as the Guyana-Suriname Basin will therefore continue to play a...
News

Carbon pricing initiatives generate US$53B; now apply to over a fifth of global GHG – World Bank

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Based on the World Bank’s latest statistics, carbon pricing appears to be gaining more acceptance and is proving to be a cost-effective policy tool in combating climate change. According to the financial institution’s latest report called State and Trends of...
Exploration

Scale of resources, production potential at Suriname’s Block 58 “bigger than big” says APA official

OilNOW -
All eyes are on Suriname’s Block 58 where four of the country’s five offshore discoveries have been made to date and the scale of the resource volume and production potential is said to be “bigger than big” according to...
News

Struggling Venezuela opened door to new South American oil province

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Political instability and economic turmoil in Venezuela have caused its economy and oil industry to collapse. The country’s highest-ever oil production occurred in 1998 at 3.5 million barrels per day (bpd), the same year that Hugo Chávez was elected...
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Suriname President confirms FID targeted for 2022, first oil by 2025

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President of Suriname, Chandrikapersad Santokhi confirmed on Tuesday that Total and partner Apache will move forward with their final investment decision at Block 58 next year and move towards first oil by 2025. This will make the offshore development...
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Equinor, Exxon and partners sanction US$8 billion project in Brazil

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Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. “This is an exciting day. Bacalhau...
Exploration

Global exploration has more than 3 decades of life left – Guyana remains top destination

OilNOW -
Updated May 31, 2021 Major oil and gas explorers around the world expect at least three decades of exploration still to come and see this lasting beyond 2050 even as the global pandemic and slashed oil prices have caused companies...
Exploration

Guyana and Suriname have reached ‘developmental take-off speed’ – analysts

OilNOW -
Nestled on the north coast of South America, Guyana and Suriname are among the smallest of the countries on the continent. But with the discovery of multi-billion-barrel hydrocarbon resources, the economic prospects of these upcoming potential giants are among...
News

Guyana regulators internationally trained to measure crude lifts

OilNOW -
Guyana’s multi-billion-barrel hydrocarbon discoveries and the start of oil production operations have seen institutions playing catch up to monitor and regulate a sector that was practically non-existent prior to the 2015 world class Liza oil strike by ExxonMobil. Key to...
News

Exxon holds public consultations for Yellowtail, 2022 targeted for FID

OilNOW -
ExxonMobil Guyana held public consultations for the Yellowtail development on Thursday where it confirmed that 2022 is being targeted for final investment decision on the project that is set to catapult the country’s total oil production to more than...
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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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