ExxonMobil announced on Thursday a new discovery at the Cataback-1 well and increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels.
Cataback-1 brings the total significant discoveries to more...
The light sweet crude being produced in Guyana is poised to help meet a rise in global energy demand which the U.S. Energy Information Administration (EIA) says could increase 47% in the next 30 years, driven by population and...
Saipem has been awarded new onshore drilling contracts in the Middle East and in South America. In particular, a contract has been awarded in the United Arab Emirates with a duration of approximately 15 months.
In South America, Saipem has...
Oil remained steady on Monday ahead of an OPEC+ meeting, with Brent hovering around $79.22 per barrel. A Norway-based energy research and business intelligence company had estimated just last year that Guyana would rake in over $300 billion in...
A key player in Guyana’s business community is sounding a dire warning that if swift action is not taken to implement local content legislation, Guyanese will continue to lose out on major procurement opportunities for the offshore oil developments.
“I’ve...
Saipem and WSense, an Italian start-up in the field of innovation, have signed a cooperation agreement for developing complex communication networks for subsea drones.
These so-called multi-purpose intelligent nodes will be designed and qualified by Saipem and WSense to be...
Oil major ExxonMobil has so far sanctioned development of about 560,000 bpd of oil production capacity off the coast of Guyana. The commissioned capacity is expected to grow to more than 900,000 bpd in the next five years then...
Gas flaring – the combustion of unwanted natural gas produced during oil recovery – is causing many oil-producing countries to lose up to $82 billion a year, priced at record spot prices in Europe in August 2021, according to...
Environmental data have been collected offshore Guyana and studied since 2014 and reports have been compiled describing the physical, chemical, and biological properties of sediment and the water column to document baseline conditions, particularly in the Stabroek Block. These...
Chinese state-owned oil and gas company CNOOC is raising 35 billion yuan ($5.41 billion) in a new share issue on the Shanghai stock exchange to fund several key oil and gas projects including Payara, offshore Guyana, where it has...
