ExxonMobil is continuing drilling activities at the Haimara-4 wellsite, located approximately 125.4 nautical miles (232.1 kilometers) off the Coast of Guyana, covering an area of 0.29 square nautical miles (1 square kilometer). This is according to a notice from the Maritime...
ExxonMobil's expanded operations are set to boost subsea tree installations in 2024, with a projected 12% contribution, according to Rystad Energy. This surge follows Equinor, which accounted for 17% of total subsea tree installations this year. Exxon's focus is...
Guyana will be producing oil for decades to come. A series of deepwater development projects being executed by U.S. oil major ExxonMobil is rapidly transforming the South American country, catapulting it from a non-producer less than five years ago,...
Guyana’s Natural Resource Fund (NRF) received more than US$268 million in July from oil sales and royalties.
The Fund received US$101.1 million (GY$21.1 billion) in royalties for crude oil produced and sold in the second quarter. Guyana has received three...
SLB has successfully increased the Rate of Penetration (ROP) by 65% in ExxonMobil's “most complex offshore Guyana trajectory”, saving 34 hours of drilling time. The achievement was made possible through the combination of the AccuStrike bit and the PowerDrive...
Guyana has finalized its new model Production Sharing Agreement (PSA) with no changes to the fiscal terms introduced on March 14 during the country’s first oil blocks licensing round. The new PSA, which mandates a 10% royalty rate and...
The Guyana government is on course to withdraw US$2.3 billion in oil revenue from its Natural Resource Fund (NRF) in 2025 to support that year’s budget. This would represent a 46% increase from the almost US$1.6 billion amount approved...
Guyana’s Ministry of Natural Resources has shortlisted seven companies for consideration to conduct a seismic study offshore.
Minister of Natural Resources, Vickram Bharrat, told reporters at an August 14 press conference that around eight companies submitted or expressed interest. "We...
Guyana’s next Stabroek Block development could potentially be ExxonMobil’s Longtail discovery, Vickram Bharrat, the country’s Minister of Natural Resources said.
“They are already moving ahead with Hammerhead, and we have heard talks that Longtail will come after that,” he said.
The...
The field development plan for ExxonMobil’s Hammerhead project is expected in the first quarter of 2025, according to Guyana's Minister of Natural Resources Vickram Bharrat.
“...then we will do our necessary due diligence with the view of issuing the license...
