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Guyana to see “major upgrade” to Stabroek Block’s 11-billion-barrel resource count – Hess CEO

OilNOW -
Hess Corporation’s Chief Executive Officer (CEO), John Hess, said the market can look forward to a “major upgrade” to Guyana's Stabroek Block resource base which stands at 11 billion barrels of oil equivalent resources. During his recent participation at the...
News

Hess’ net Stabroek Block output jumps 66,000 bpd; 8 million barrels sold in third quarter

OilNOW -
Hess Corporation, which holds a 30% stake in the Stabroek Block, reported on Wednesday that its net production in the offshore concession increased by 66,000 barrels of oil per day (bpd). In its operational update on Guyana, the company said...
News

Six Bourbon vessels to support Stabroek Block operations until end of decade

OilNOW -
Offshore marine services company – Bourbon Guyana Inc. – currently has six vessels supporting oil and gas operations offshore in the Stabroek Block and those vessels will remain until the end of the decade. Managing Director of the Company, Edward...
News

Exxon awards multi-million-dollar contract to DOF Subsea for work in Stabroek Block

OilNOW -
DOF Subsea has been awarded a NOK$2.7 billion (US$256.1 million) contract by ExxonMobil to execute works in Guyana’s offshore Stabroek Block where 11 billion barrels of oil-equivalent have already been discovered. DOF Subsea said the contract will last three years...
News

Exxon sent out 35 letters seeking new partners after Shell walked away from Stabroek Block

OilNOW -
Before China National Offshore Oil Corporation (CNOOC) and Hess Corp. partnered with ExxonMobil to become the Stabroek Block co-venturers we know today, there was Shell. The British multinational held a 50% stake with Exxon, but the company opted to leave...
News

Stabroek Block co-venturer to experience one of the fastest growth rates of any large oil company

OilNOW -
Hess Corporation, which holds a 30% working interest in the Stabroek Block, is positioned to experience one of the fastest growth rates of any large oil company through 2026. Highlighting this was an analysis published by Seeking Alpha, a...
News

About 35% of Stabroek Block barrels committed to Exxon’s first five Guyana projects

OilNOW -
With close to 11 billion oil-equivalent barrels discovered in the Stabroek Block offshore Guyana, ExxonMobil is forging ahead with development plans, in keeping with the objective of the government to bring the resources to market in the shortest time...
News

Stabroek Block production averaged 372,000 bpd in first half of August

OilNOW -
Recently updated information from Guyana’s Petroleum Management Programme shows Stabroek Block oil production averaging 372,000 barrels per day (bpd) for the period August 1-15, 2022. Production in this period reached its lowest on August 4 with just over 245,000 bpd,...
Exploration

Exxon targeting Sailfin, Banjo wells as hunt for more oil in Stabroek Block continues

OilNOW -
Pursuing an aggressive drill campaign, Stabroek Block operator – ExxonMobil – has moved on to the Banjo-1 and Sailfin-1 wells as it looks to find more oil offshore Guyana. According to notices published by Guyana’s Maritime Administration (MARAD) over the...
News

Exxon’s risk and Shell’s multi-billion-dollar missed opportunity in Guyana’s Stabroek Block

Shikema Dey -
Under different circumstances, ExxonMobil’s success in the Stabroek Block would have been shared with Royal Dutch Shell. The British multinational was ExxonMobil’s partner in the Stabroek Block prior to 2015, with a 50% stake. But looking at the data at...
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OTC panel hones in on Guyana private sector growth as oil output hits 668,000 b/d

Guyana’s economic rise and the growing role of its private sector were the focus of a panel discussion at...

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