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Transparency body to receive first trades in oil data from Guyana’s Dept of Energy

OilNOW -
The Guyana Extractive Industries Transparency Initiative (GYEITI) will soon be receiving information regarding Guyana’s first trades in oil now that the country has commenced production. The local EITI chapter, headed by Dr Rudy Jadoopat, held a meeting with the Department...
News

Petrobras to sell stake in Brazil field

OilNOW -
(Zacks) Petrobras PBR and minority partner Chevron CVX announced plans to sell their stakes in the Papa-terra deep-water oilfield located in Brazil’s Campos Basin. Per Petrobras, the plan is in sync with its strategy to cut costs and improve capital...
News

Saipem signs MoU with Gulf Petrochemical Industries Company

OilNOW -
Italian firm Saipem has signed a Memorandum of Understanding (MoU) with Gulf Petrochemical Industries Company (GPIC), a joint venture equally owned by the National Oil and Gas Holding Company in the Kingdom of Bahrain, SABIC Agri-nutrient Investments in the...
News

Guyana’s revenue take pegged at 60% as production set to hit 1.2 million bpd – Rystad Energy

OilNOW -
The economic fortunes of Guyana, with a population of only around 800,000, are poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil production is expected to grow rapidly in the...
Exploration

Over 50 prospects identified on Suriname’s Block 58

OilNOW -
Apache Corporation has identified over 50 prospects on Block 58 offshore Suriname where it has made the first deepwater discovery in the South American country in an area that runs parallel to ExxonMobil’s prolific Stabroek Block offshore Guyana. The Maka...
News

New estimate pushes Orinduik prospective resources to over 5 billion BOE

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. said on Monday that an updated Competent Persons Report (CPR) on the Orinduik Block offshore Guyana has upped the gross prospective resources to 5.141 billion barrels of oil equivalent, from the previous estimate...
Exploration

Explorers face growing battle for support in 2020 – WoodMac

OilNOW -
What's the role for the exploration industry as the energy transition takes long-term oil growth off the agenda? In 2019, Andrew Latham, vice president of global exploration at Wood Mackenzie, asked if there's room for explorers in a low-carbon...
News

ExxonMobil earns $14.3B in 2019 as Guyana operations enter new chapter

OilNOW -
Exxon Mobil Corporation (NYSE:XOM) announced Friday its estimated fourth quarter 2019 earnings of $5.7 billion, or $1.33 per share assuming dilution. Earnings included favorable identified items of about $3.9 billion, or $0.92 per share assuming dilution, mainly a $3.7 billion...
News

Guyana government will soon lift its first 1 million barrels of oil

OilNOW -
The government of Guyana in the coming days will lift its first share of oil from the Liza Phase 1 Development located 120 miles offshore at the 6.6 million acres Stabroek Block. Shell Western Supply and Trading Limited has been...
News

Halliburton seeking applicants for Guyana operations

OilNOW -
US oilfield services and drilling technology company Halliburton is seeking to fill a number of positions to support its offshore operations in Guyana, the world’s newest oil producer. The three positions for which applications are being sought are tech-prof cementing...
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Tourism minister calls for cultural shift, stronger service standards to power Guyana’s next economic phase

Tourism, Industry, and Commerce Minister Susan Rodrigues has called for a national cultural transformation to align with Guyana’s rapid...

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