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Factors to consider for licencing Guyana offshore oil blocks

Bobby Gossai, Jr. -
Bocks are those where the initial term (normally x years) has expired and there has been no drilling for a period of y years and no dedicated seismic or other significant activity for a period of z years;...
Exploration

Offshore project sanctioning in 2019 stands at $56 billion

OilNOW -
To survive in the lower oil price environment of the past five years, E&Ps and service companies alike have sharpened their pencils and delivered significant cost reductions for the offshore industry. Rystad Energy says the resulting cost savings is...
News

Liza Destiny was completed in record 20+ months – SBM Offshore

OilNOW -
The Liza Destiny FPSO which is currently sailing to Guyana, recently departed from Keppel shipyard in Singapore. This key milestone follows a record turnaround time of just over 20 months for its construction phase by SBM Offshore – including...
News

Total divests several non-core UK assets to Petrogas

OilNOW -
French oil giant Total has confirmed that it has signed an agreement to divest several UK non-core assets to Petrogas NEO UK Ltd, the exploration and production arm of the Oman-based conglomerate MB Holding. According to a Total release,...
News

SBM Offshore takes ‘Life Day’ to Guyana

OilNOW -
With an eye on the safety and wellbeing of its employees, SBM Offshore observed its sixth annual Life Day event on Wednesday, June 12, 2019. Life Day, which is observed globally, was held in Guyana for the first time,...
News

US cements position as world leader in oil reserves; Guyana pushing offshore replacement ratio

OilNOW -
In its latest annual report of world recoverable oil resources, Rystad Energy, the independent energy research firm, finds that the United States currently holds 293 billion barrels of recoverable oil resources. This is 20 billion barrels more than Saudi...
News

Trinidad moves past Venezuela to tap border gas

OilNOW -
(Argus) Trinidad and Tobago has cleared Shell to develop the country's side of a shallow-water natural gas field that straddles the maritime border with Venezuela, Prime Minister Keith Rowley said. The move indicates Trinidad's "impatience" with Venezuela's delay in agreeing...
News

Tullow set to spud first well offshore oil-rich Guyana within weeks

OilNOW -
UK-based Tullow Oil and its joint venture partners will spud their first well at the Orinduik Block offshore Guyana just miles away from the multi-billion barrel Stabroek Block where US oil major ExxonMobil has to date made a record...
News

Six females among new batch for Guyana offshore training

OilNOW -
12 Guyanese will begin their careers in the oil and gas sector on June 3. The batch will receive training as Rig Clerks and will be stationed on the Noble Bob Douglas drillship on completion. Among the batch are...
News

Brazil’s Petrobras nears sale of offshore oilfields

OilNOW -
Brazil’s Petroleo Brasileiro SA is nearing the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt, Reuters said in a report on Tuesday. Petrobras,...
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Nigeria’s Petroleum Commission confirms ExxonMobil’s US$1.5B investment in the country’s deepwater oil sector

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that ExxonMobil will invest $1.5 billion in Nigeria’s deepwater oil...

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