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Development drilling ramps up at Liza 2 well site

OilNOW -
Development drilling continues at ExxonMobil Guyana’s Liza site in the Stabroek Block with the Noble Tom Madden drillship.  Guyana’s Maritime Administration (MARAD) said activities commenced on May 6 and will end on June 30 with 29 additional support vessels.  The well...
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Exxon integrating technology, project management capabilities to grow unique Guyana asset at an industry-leading pace

OilNOW -
ExxonMobil Corporation’s Senior Vice President & Chief Financial Officer (CFO), Kathy Mikells recently disclosed that the American multinational is deploying its best technologies and project management capabilities to grow Guyana’s unique assets at an industry leading pace. Speaking to shareholders...
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SBM Offshore orders 8th Fast4Ward® Multi-Purpose Floater hull

OilNOW -
Dutch contractor, SBM Offshore’s full-year guidance remains on track after good performance in the first quarter of 2023.  Its report released on May 11, noted that the company has upped its Lease and Operate revenue to US$453 million - a...
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Three lines of defense protect Guyana from liability if a spill occurs

OilNOW -
Vice President Dr. Bharrat Jagdeo explained on May 11 that the cover in place for Guyana in case of a spill amounts to some US$16.6 billion.  This follows a statement from the Environmental Protection Agency (EPA) which said negotiations with...
News

EPA consulted multiple established jurisdictions to determine guarantee from Exxon

OilNOW -
Guyana’s Environmental Protection Agency (EPA) has come out in defense of its decision to appeal a Supreme Court ruling related to the provision of financial assurance from ExxonMobil in the unlikely event of an oil spill due to Stabroek...
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Guyana not a backwater country, must not engage in economic nationalism – Jagdeo

Kemol King -
The Guyana government is facing criticisms of its management of the oil sector, including accusations of anti-nationalism, hot on the heels of an upset judgment by the Supreme Court. Justice Sandil Kissoon said ExxonMobil affiliate, Esso Exploration and Production...
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Local logistics company supporting Guyana’s GtE project

OilNOW -
Demerara Integrated Logistics Inc. has delivered a second vessel to support ExxonMobil’s operations offshore Guyana - this time, for the Gas-to-Energy (GtE) project.  The latest vessel to be delivered - Knockout P - a DP2 platform supply vessel (PSV) will...
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ExxonMobil to provide Guyana with “real-time” access to Uaru production data/reports

OilNOW -
ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL) has agreed to provide Guyana with real-time access to data pertaining to the Uaru Development Project. The level of compliance expected by Guyanese regulators is explicitly...
News

Exxon’s Guyana projects challenging MODEC, SBM Offshore to break new ground

Kemol King -
With expanding crude production offshore Guyana at an unrivaled pace, builders of floating production, storage and offloading (FPSO) units are being pushed to add higher capacity vessels to their portfolios.  MODEC and SBM Offshore have both been entrusted by ExxonMobil...
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A progress update on Guyana’s 4th oil development

OilNOW -
Work to deliver Exxon’s fourth oil production project offshore Guyana is progressing rapidly at opposite ends of the globe. Construction of the massive ONE GUYANA FPSO is underway in Singapore and development drilling is in high gear at the...
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IEA warns of major drop in oil investment as clean energy gains momentum

Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and the...

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