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All roads lead to Fangtooth as next Stabroek Block development

Shikema Dey -
The Fangtooth reservoir is shaping up nicely to become ExxonMobil’s 7th Stabroek Block development.  This fact is supported by its latest discovery - Lancetfish-1, according to Greg Hill, Chief Operations Officer (COO) at Hess Corporation. Hess holds a 30% stake...
News

Clear line of sight for Stabroek Block to hit 1.3 million bpd by 2027

OilNOW -
With regulatory approvals granted for Exxon’s fifth Guyana development - Uaru, next up on the list is number six - Whiptail.   This development is expected to tap Exxon’s Whiptail, Pinktail and Tilapia discoveries, taking production offshore the South American country...
News

Exxon hits dry hole at Stabroek Block’s Kokwari-1 well

OilNOW -
Hess Corporation said on April 26 that the Kokwari-1 exploration well in the Stabroek Block offshore Guyana did not encounter commercial quantities of hydrocarbons. Hess’ Chief Operating Officer (COO), Greg Hill noted that Kokwari was a higher-risk carbonate play that...
News

Stabroek Block investments in Guyana now above US$40 billion as partners FID Uaru project

OilNOW -
ExxonMobil Guyana announced on Thursday that it has made a final investment decision (FID) on the Uaru development, its fifth such project offshore the South American country. Exxon is the operator of the Stabroek Block, where the project will...
News

Stabroek Block daily production jumps 5% in February

Kemol King -
The Stabroek Block’s Liza projects continue to demonstrate consistently high oil production levels. In February, the daily production rate jumped 5% to 390,000 barrels per day (b/d) from 372,000 b/d in January.  The February production rate represents the highest of...
News

Exxon’s new multi-well campaign at Stabroek Block not expected to affect fishing industry – CIA Report 

OilNOW -
ExxonMobil Guyana’s proposed 35-well campaign for the Stabroek Block is expected to have little to no adverse impacts on the nation’s fishing industry. In fact, Exxon’s Cumulative Impact Assessment (CIA) Report by ERM Guyana Inc. notes that the nation’s current...
News

More FPSOs may be needed as Guyana’s Stabroek Block discoveries grow – Hess boss

OilNOW -
Given the industry-leading rate of discoveries in the Stabroek Block, there may be a need for more than 10 floating, production, storage and offloading (FPSO) vessels to take off the resources. This was confirmed by Hess Corporation’s Chief Executive...
News

20% relinquishment of Stabroek Block will have no impact on future plans – Hess CEO

OilNOW -
Hess Corporation, a 30% stakeholder in Guyana's Stabroek Block, has assured the market that the co-venturers stand ready to comply with the relinquishment provisions in the 2016 Production Sharing Agreement (PSA). The company also told shareholders that the 20%...
News

Stabroek Block partners spending GY$3.7 billion on new Berbice multi-purpose stadium

Kemol King -
Construction on a new multi-purpose facility kicked off Friday at Palmyra, Berbice with a GY$3.7 billion (approximately US$17.7 million) contribution from the Greater Guyana Initiative (GGI), funded by the Stabroek Block partners. The facility is being built by Caribbean Green...
News

Relinquished portion of Stabroek Block for gov’t-to-gov’t partnerships – VP

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo says ExxonMobil Guyana is set to relinquish a portion of the 6.6 million acres Stabroek Block and this will be used to facilitate the government’s planned direct partnerships. “Next year, ExxonMobil will have to...
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ExxonMobil Guyana launches drone surveillance along Gas-to-Energy pipeline route

ExxonMobil Guyana announced the start of drone surveillance along the Gas-to-Energy (GTE) pipeline right-of-way (RoW), which runs from Nouvelle...

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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