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Exploration

Guyana in ‘Golden Triangle’ of mega oil reserves

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Guyana falls within the Golden Triangle of mega oil reserves along with countries such as Brazil, Venezuela and Nigeria, and producers in the US Gulf of Mexico. Deepwater drilling used to be prohibitively expensive, but high oil prices in 2007...
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CGX adjusts Guyana drilling plans but remains confident in potential of strategically positioned blocks

OilNOW -
Canadian-based CGX Energy Inc., operator at the Demerara and Corentyne Blocks offshore Guyana, has been left with no choice but to make adjustments to its 2020 drilling plans due to the effects of the COVID-19 pandemic. In its latest financial...
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US company aiming to set up tubular fabrication plant in Guyana

OilNOW -
Dril-Quip Inc. and TRINPET Guyana Inc. have entered into a License and Services Agreement that includes the construction of a state-of-the-art tubular fabrication, maintenance and storage facility in Georgetown, Guyana. OilNOW understands the project is scheduled to commence this year with...
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Achieving carbon emission goals still possible with oil extraction – API Chief Economist

OilNOW -
Since the discovery of large volumes of oil offshore Guyana, and now becoming a producer, the ability to balance this with the country’s low carbon agenda has long engaged the attention of environmentalists, some of whom believe the two...
Exploration

Apache spuds 3rd Suriname well as search for more crude intensifies

OilNOW -
Apache Corporation and Total S.A have spudded their third well offshore the South American country of Suriname. The two companies each hold 50% interest in Block 58 where they have made 2 discoveries to date. In the second half of...
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Guyana’s 65-day election could be over in another 25

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South America’s newest oil producer Guyana could be moving to finally conclude its presidential election which took place on March 2. A recount of all the votes cast is set to get underway today on the outskirts of the...
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Saipem bags 280-million-euro contract for Baltic Pipe Project

OilNOW -
Italian-based oilfield services company Saipem has been awarded a contract by GAZ-SYSTEM S.A. for the transportation and installation of a natural gas pipeline between Denmark and Poland in the Baltic Sea. The contract, signed by its controlled subsidiary in U.K. Saipem...
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Finding oil is really hard, making money even harder

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(Journal of Petroleum Technology) As ExxonMobil announced discovery after discovery offshore Guyana, it sounded easy. Beginning with the Liza-1 discovery well, the giant oil company announced 16 successful exploration wells. There were four or five successful wells per year from...
Exploration

Global exploration & production revenues will fall by staggering 1 trillion dollars – Rystad Energy

OilNOW -
The devastating effect of the COVID-19 pandemic on global oil and gas exploration and production (E&P) companies is better understood by looking at the industry’s expected total annual revenues for 2020. A Rystad Energy analysis shows that global E&P...
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Guyana-Suriname basin stratigraphic traps delivering multi-billion barrel pay – Westwood

OilNOW -
More oil and gas were discovered in stratigraphic traps than any other trap type in the last decade and the Guyana-Suriname basin remains one of the most prolific. Excelling in stratigraphic trap exploration is now the key to top...
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Middle East tensions could lift Guyana’s oil revenues, but capacity risks remain – Orinoco Research

Rising geopolitical instability in the Middle East could increase oil revenues for Guyana while also exposing capacity constraints across...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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