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Exploration

Iran says oil field found with more than 50 billion barrels

OilNOW -
(Associated Press) Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude oil, its president said Sunday, a find that could boost the country's proven reserves by a third as it...
News

No new oil blocks to be awarded in Guyana at least for another year

OilNOW -
South America’s newest oil and gas hotspot, Guyana, may not award any new oil blocks for at least another year as the country’s Department of Energy (DE) moves to put a number of measures in place which includes enhancement...
News

Liza Unity hull 85 percent complete

OilNOW -
The hull for the Liza Unity FPSO – Guyana’s second oil production complex – is now 85% complete as work on the 220,000 barrels per day vessel that will be producing oil from the Liza Phase 2 Development project...
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Brazil oil auction a ‘total disaster’ as bidders stay away

OilNOW -
(Bloomberg) Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. Petrobras, as the company is known, joined with China’s Cnooc Ltd....
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Demand for OPEC crude expected to slide as Guyana, other producers add to supply

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Demand for oil from the Organization of Petroleum Exporting Countries (OPEC) is expected to slide as the oil cartel’s market share shrink in coming years amid a flood of US shale and supply from countries like Guyana, where production...
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Bristow emerges from bankruptcy with successful debt restructuring

OilNOW -
Bristow Group Inc. has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 4, 2019. Bristow said on October...
News

TT helicopter operator expanding operations to Guyana with S-76 aircraft

OilNOW -
National Helicopter Services Ltd. (NHSL), a leading Sikorsky S-76® helicopter operator, is expanding operations with its first two S-76D™ aircraft in Guyana, a continuation of the significant growth of Sikorsky and Lockheed Martin in Latin America. NHSL has operated Sikorsky...
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Exxon records $3.2B earnings in Q3 as Guyana value position further improves

OilNOW -
Exxon Mobil Corporation on Friday announced estimated third quarter 2019 earnings of 3.2 billion US dollars as the company continues to make progress on its long-term growth strategy and further improved the value of its position in Guyana with...
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University of Guyana will play pivotal role in Guyana’s oil future

OilNOW -
The discovery of several billion barrels of oil offshore Guyana since 2015 and the start of production, now just months away, have made it clear that the South American country is entering a new era in its history that...
News

Mauritania now ties Guyana for 2nd most discovered volumes this year

OilNOW -
On Monday BP announced a major gas discovery, Orca-1, off the coast of Mauritania, which Rystad Energy says is the deepest and largest discovery so far this year. The Norway-based energy research and business intelligence company estimates Orca-1 holds...
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‘Lil Red Community Centre’ commissioned through partnership with Food for the Poor Inc. and SBM Offshore Guyana

Residents of Little Red Village on Guyana’s Essequibo Coast now have access to a new community hub following the...

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