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Exploration

Thirst for exploration to continue in 2021 with 38 High Impact Wells planned – IHS Markit

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The search for oil in key hotspots across the globe is expected to continue in earnest this year and this will see approximately 38 High Impact Wells (HIWs) being drilled, according to American-British information provider, IHS Markit. Jack Rivers, Director...
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Undeterred by heavy oil finds Eco says new Guyana campaign to target light crude play

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Undeterred by the results from the Jethro and Joe prospects on the Orinduik block which showed the presence of heavy oil, Eco Atlantic says it remains primed for a new campaign on the block which is expected to focus...
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Hess plugs over three-quarter billion dollars more into Guyana offshore operations

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Hess Corporation on Monday announced its 2021 Exploration & Production capital and exploratory budget of $1.9 billion with more than 41% allocated to offshore developments in Guyana where the company has a 30% stake in the prolific Stabroek block. CEO...
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Baker Hughes expanding digital capabilities, reducing emissions in new order with Petrobras

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Baker Hughes said on Friday an order has been confirmed with Petrobras to provide a suite of digital solutions across the state oil company’s sites in Brazil. The order, booked in the fourth quarter 2020, will further expand Petrobras’...
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Guyana accounts for US$15 billion in deepwater sanctioning since 2019

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Global consultancy group Wood Mackenzie says it expects another year of around US$300 billion in upstream development spend, down 30% on pre-crisis levels and 60% below 2014’s US$750 billion peak. Deepwater spend has been underpinned by US$50 billion in...
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Guyana deepwater drilling pushes Schlumberger fourth quarter 2020 results

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Oilfield Services Company Schlumberger recorded $969 million in revenue for the Latin America region in the fourth quarter (Q4) of 2020. The company said on Friday this represents an increase of 17% sequentially with continued strength in Ecuador, Colombia,...
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ExxonMobil says it can deliver 50 million cubic feet of gas per day to shore

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The use of natural gas to provide energy in Guyana continues to form a major part of the government’s plans to deliver significant benefits to the country of just over 750,000 people. Piping gas to shore will allow for...
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Big Guyana oil finds embolden Suriname explorers – deepwater set to flourish

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The more than 85 percent exploration success rate ExxonMobil has had in Guyana at the prolific Stabroek block has served to open up the Guyana-Suriname basin and analysts believe there are billions of barrels of oil yet to be...
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Guyana-Suriname basin at top of watch list, Bulletwood and Bonboni could deliver big pay

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Analysts are looking closely at the exploration campaigns targeting the Bulletwood prospect in Guyana and Bonboni in neighbouring Suriname which are testing the upper cretaceous play in a basin where billions of barrels of oil equivalent have been found...
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Exxon targeting over a dozen wells, ramping up drill capacity offshore Guyana this year – Routledge

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A flurry of activity is expected offshore Guyana this year as U.S. oil major ExxonMobil ramps up its search for even more hydrocarbons, targeting deeper and risker prospects. The company has also confirmed that it will be boosting its drill...
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Venezuela flouts World Court Order barring elections in Guyana’s Essequibo region

Venezuela has rejected a binding order issued by the International Court of Justice (ICJ) prohibiting it from conducting elections...

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