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News

Venezuela would have to think many times before blocking use of Stabroek block resources – Advisor

OilNOW -
The emergence of the oil industry has unequivocally refashioned Guyana's geopolitical importance. But every rise to stardom in the petroleum world will bring its fair share of challenges. In Guyana's case, the issue of great concern remains Venezuela. The...
News

Stabroek Block co-venturer Hess sells some of its assets in the Bakken

OilNOW -
Hess announced today that it has entered into an agreement to sell its Little Knife and Murphy Creek acreage interests in the Bakken in North Dakota to Enerplus Corporation for a total consideration of $312 million, effective March 1,...
News

Cost of gas to power project will be ‘very small percentage’ of Stabroek Block ‘cost pool’ – Ramnarine

OilNOW -
The estimated US$600 million to US$800 million cost to run a gas pipeline from the Liza field to shore in Guyana will not make much of a difference to the overall economics of the Stabroek Block. So says former...
News

Stabroek block co-venturer CNOOC begins production at Chinese oilfield

OilNOW -
CNOOC Limited announced on Monday that Caofeidian 6-4 oilfield has commenced production. Caofeidian 6-4 oilfield is located in the Midwest of Bohai, with average water depth of about 20 meters. “In addition to fully utilizing the existing processing facilities of Nanpu 35-2...
Exploration

2021 could be busiest year ever for exploration at Stabroek block

OilNOW -
2021 is shaping up to be a significant period for exploration and appraisal operations in the Guyana-Suriname basin with targets at the prolific Stabroek block potentially making it the busiest year ever for drilling activities at that ExxonMobil-operated acreage. More...
News

Exxon planning to submit plan for 4th major development at Stabroek Block by year-end

OilNOW -
U.S Oil major ExxonMobil, operator at the 6.6 million acres Stabroek Block in Guyana, is planning to submit a development plan to authorities in the South American country for its fourth project offshore, by the end of the year. The...
News

Stabroek block subsea systems provider creates twin companies

OilNOW -
TechnipFMC announced on Monday the completion of its spin-off transaction to create two industry leading, independent, publicly traded companies, TechnipFMC and Technip Energies. In connection with the separation, the Technip Energies technical reference price was set at €9.00 ahead of...
News

Smaller oil companies looking to mirror Stabroek Block success in post-pandemic comeback – Finance Minister

OilNOW -
ExxonMobil’s exploration success in the prolific Stabroek Block where it has thus far made 18 discoveries, with an estimated nine billion barrels of recoverable oil resources has fueled the optimism of other smaller companies that will be embarking on...
News

Greater Guyana Initiative fully funded by Stabroek Block co-venturers – ExxonMobil

OilNOW -
ExxonMobil and co-venturers on the Stabroek Block, Hess and CNOOC, have affirmed that their commitment to Guyana extends beyond the oil and gas sector. The companies are investing billions of Guyana dollars in capacity-building and the economic development of...
News

Bulletwood is ExxonMobil’s second attempt at hitting pay outside of prolific Stabroek block

OilNOW -
The 6.6 million acres Stabroek block has been proven to have a working hydrocarbon system across different play types, delivering upwards of 9 billion barrels of oil equivalent since 2015. The 18 discoveries made by ExxonMobil out of 20...
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Latest News

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Improvements in infrastructure, productivity pushing Guyana’s non-oil GDP – IMF

Guyana’s oil sector is projected to account for a slightly smaller share of the country’s economy in 2025 for...

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