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...
ExxonMobil produced 11.5 million barrels of crude oil from the Stabroek Block’s Liza projects in January, marking a strong open to 2023. Production averaged 372,000 barrels per day (bpd), according to data from Guyana’s Petroleum Management Programme.
The Liza Phase...
Guyana’s hydrocarbon discoveries with considerable portions of natural gas are in the southeastern part of the Stabroek Block near the border with Suriname, according to a Ministry of Natural Resources map published in its 2023 Energy Brief.
Guyana’s Finance Minister,...
ExxonMobil, Hess and CNOOC have paid up US$57.6 million (GY$12 billion) in quarterly royalties to the Guyana government, a January report of the Natural Resource Fund indicated. This represents 26% of Guyana’s projected royalties for 2023.
The royalties account for...
ExxonMobil has been quickly racking up discoveries in Guyana’s offshore Stabroek Block with nine alone in 2022. Yet, no revision has been made to the resource count.
At present, Exxon said it has discovered close to 11 billion oil equivalent...
Front end engineering and design (FEED) work has commenced on the Whiptail development project, ExxonMobil Guyana Project Manager, Anthony Jackson said Thursday.
The company had faced criticism several years ago when it was announced that a FEED contract was issued...
ExxonMobil’s Chairman and Chief Executive Officer (CEO) Darren Woods believes that the value created by its successes in Guyana are being manifested locally.
Addressing investors during the company’s recent Q4 Earnings Call, he stated “...the importance of that resource and...
An audit, launched in May 2022 of Stabroek Block costs submitted for the period 2018-2020, is due to wrap up in March this year, Guyana’s Minister of Natural Resources, Vickram Bharrat said Tuesday.
There was a misconception, Bharrat explained, that...
The Stabroek Block co-venturers intend to drill 10 exploration and appraisal wells there in 2023, Chief Executive Officer of Hess Corporation, John Hess said Tuesday.
“We continue to see multibillion barrels of additional exploration potential on the Stabroek Block,” Hess...
ExxonMobil is looking to increase its multi-billion barrel recoverable resources offshore Guyana this year. Its co-venturer Hess Corp. recently announced yet another significant discovery at Fangtooth SE-1.
And according to Rystad Energy, more discoveries will come over the next several years, with...
