The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease...
The two oil discoveries announced by ExxonMobil on Wednesday add to 26 commercial finds in Guyana which the Ministry of Natural Resources said will further strengthen the South American country’s position as a major new oil and gas hotspot.
Exxon...
“This is not normal.” This is how the unprecedented success ExxonMobil has been having offshore Guyana is being described by head of its operations in the South American country, Alistair Routledge.
“We reached the huge milestone of declaring 10 billion...
ExxonMobil and the Government of Guyana on Wednesday announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.
The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was...
Guyana’s Environmental Protection Agency (EPA) will soon launch a new technology system that will allow it to monitor the offshore exploration and production activities in real time.
OilNOW understands the system is being tested and is likely to be officially...
Globally, deepwater will remain an exclusive sector with few operators, and oil majors will continue to dominate, accounting for 45% of planned deepwater drilling in 2022, particularly in ‘super plays’ like Guyana, Suriname and Brazil.
According to new insight from...
According to its latest 8-K filing, Exxon Mobil (NYSE:XOM) expects changes in natural gas prices will raise Q4 earnings by $700M-$1.1B compared with Q2 and changes in liquids prices will lift earnings by $400M-$800M.
According to an article published on...
2022 New Year Address to the Nation By His Excellency Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana
My People of our One Guyana
I speak to you now to wish you all, sincerely, a Happy New Year.
I know...
The rapidly expanding oil and gas operations in Guyana continue to fuel significant commercial activities and authorities say the local content legislation passed this week will help to ensure Guyanese cash in big on these growing opportunities.
“This bill guarantees...
Guyana is among the few nations in the world which managed to evade economic contraction during 2020 as massive investments fueled by the more than 10 billion barrels of oil equivalent resources found off of its coast continue to...
