ExxonMobil Guyana said it made a discovery at the Bluefin well in the Stabroek Block offshore Guyana, its first this year. The Bluefin well encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone and was drilled by the Stena Drillmax...

SBM Offshore and Technip Energies have announced their collaboration through the signing of a Memorandum of Understanding to establish a new joint venture entity named EkWiL. The venture aims to be a leading player in the floating offshore wind...

CGX Energy and its Corentyne Block partner, Frontera Energy, have less than four months remaining on their appraisal program for the 994 km2 license area. The appraisal program was approved for a period of 24 months from June 29, 2022...

Guyana’s Natural Resource Fund (NRF) received approximately US$225 million (GY$46.9 billion) in February.  The payments represent Guyana's share of oil sales. The NRF also made interest income of GY$2.05 billion (approximately US$9.8 million).  The next quarterly payment of royalties is expected in...

Neil Chapman, Senior Vice President at ExxonMobil, said the company will pursue debottlenecking of the Payara project infrastructure with an expectation to achieve oil production of 250,000 barrels per day (b/d). He commented during a March 6 ‘fireside chat’...

To bolster the competitiveness of Guyana's burgeoning economy, strategic investments in infrastructure and targeted training initiatives are pivotal determinants. This is according to ExxonMobil Guyana President, Alistair Routledge. Exxon is the operator of Guyana’s Stabroek Block.  In his presentation at...

Factors affecting the global oil market have been plenty but prices have remained fairly balanced, said Carlos Pascual, Senior Vice President for Global Energy and International Affairs at S&P Global Commodity Insights. That is because of “strong oil balances”...

Representatives of both the Guyana government and main opposition party on Thursday refuted claims that Stabroek Block co-venturers ExxonMobil, Hess and CNOOC are shortchanging the country in quarterly royalty payments.  Economic Advisor in the opposition party, Elson Low, said that...

With the clock ticking, Venezuela has just one month remaining to present its counter-memorial to the International Court of Justice (ICJ) in the ongoing border controversy with Guyana. The deadline set by the Court is April 8, 2024. This...

By the third quarter of 2024, Saipem Guyana is set to occupy 81,000 square meters (m2) of the Vreed-en-Hoop Shore Base Inc. (VEHSI) facility, allowing it to fabricate “more complex” subsea structures for the country’s booming oil industry.  Saipem is...