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...
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,...
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...
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...
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...
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...
The success rate for finding commercial quantities of hydrocarbons offshore Guyana remains one of the highest in the oil and gas industry. Supported by state-of-the-art technology and highly trained geoscientists, U.S oil major ExxonMobil has had a remarkably good...
U.S oil major ExxonMobil said on Friday that there is no basis for claims made by an alleged whistleblower, and reported by The Wall Street Journal, regarding the valuation of its assets in the Permian Basin.
The Journal reported on...
Drilling at the Hassa-1 prospect in the Stabroek block offshore Guyana has failed to encounter hydrocarbon resources, ExxonMobil said on Friday in response to a question from OilNOW.
“The Hassa-1 exploration well in the Stabroek block did not encounter hydrocarbons...
The Guyana government is forging ahead with its plan to land a gas pipeline onshore to produce cheaper, cleaner energy and create new economic opportunities for the country of just over 750,000 people. While some have criticized this move,...
