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Regulators, ExxonMobil near completion of Stabroek Block relinquishment process

OilNOW -
Minister of Natural Resources Vickram Bharrat announced that the process for ExxonMobil Guyana to relinquish 20% of the Stabroek Block is in its final stages.  The Petroleum Sharing Agreement (PSA) governing the Stabroek Block requires Exxon to relinquish 20% of...
News

Six FPSOs targeting over five billion barrels of oil at Stabroek Block – Hess

OilNOW -
Hess Corporation has revealed that nearly half of the Stabroek Block’s massive 11.6-billion-barrel reserve will be tapped with six production vessels.  “With the six ships that we have already sanctioned, we're going to be developing over five billion barrels of...
Guyana's Oil Ledger

Stabroek Block’s 2024 production exceeded 200 million barrels in November

Kemol King -
ExxonMobil Guyana sustained stable production at its Stabroek Block projects in November 2024, accumulating 205 million barrels since the year began, at an average rate of 612,000 barrels per day (b/d). The barrels are shared between Exxon, Hess, CNOOC...
News

DSIC launches Errea Wittu FPSO for ExxonMobil’s Stabroek Block

OilNOW -
Chinese contractor Dalian Shipbuilding Industry Company (DSIC) has launched the Errea Wittu floating production, storage, and offloading (FPSO) vessel, Upstream Online said on Dec. 26.  It is the fifth FPSO designed for ExxonMobil’s Stabroek Block offshore Guyana. Errea Wittu FPSO hull...
News

Exxon confirms Longtail could be 8th Stabroek Block development

Shikema Dey -
Once its Hammerhead development is off the ground, ExxonMobil Guyana President Alistair Routledge said the company intends to target Longtail next. Routledge confirmed this on a recent Energy Perspectives podcast.  “Even earlier this week, I think the Minister of Natural Resources,...
News

Guyanese group hired to audit Stabroek Block expenses for 2021-2023 period

OilNOW -
A Guyanese group, VHE Consulting, was hired to audit Stabroek Block expenses for the period 2021-2023, Guyana’s National Procurement and Tender Administration Board (NPTAB) said.  The Ministry of Natural Resources awarded the US$1.5 million (GY$312.6 million) contract on October 10...
News

Exxon continuing geotechnical survey operations at Stabroek Block

OilNOW -
ExxonMobil Guyana Limited (EMGL) is set to continue geotechnical survey operations at the Stabroek Block offshore Guyana.  According to a notice from Guyana’s Maritime Administration Department (MARAD), the survey, which will use the vessels SV Fugro Explorer and SV Fugro...
News

Stability crucial for US$55 billion investment in Stabroek Block

OilNOW -
By 2027, US$55 billion would have been invested in oil and gas projects in Guyana by ExxonMobil and its co-venturers Hess and CNOOC. This commitment is based on the terms of the 2016 Stabroek Block Production Sharing Agreement. “Any change...
News

No Stabroek Block crude is used for offshore operations – ExxonMobil Guyana clarifies

OilNOW -
ExxonMobil Guyana Limited (EMGL) has put on record that no crude produced in the Stabroek Block is utilised for its operations there.  The Friday afternoon statement from Exxon sought to clarify a local media report that questioned how many barrels...
News

Ranger still holds ranking as Exxon’s deepest well drilled in Guyana’s Stabroek Block 

OilNOW -
ExxonMobil has made over 30 discoveries in Guyana’s Stabroek Block, but none have managed to boot the Ranger-1 well from its rank as the deepest to ever be drilled. The Ranger discovery, made in 2018,...
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Guyana gov’t tables Oil Spill Bill in Parliament

The Government of Guyana on Monday tabled the long-anticipated Oil Pollution Prevention, Preparedness, Response, and Responsibility Bill 2025 in...

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