With approximately 9 billion barrels of oil equivalent and counting, Guyana is forging ahead as a major oil producer with experts saying the country is on course to become one of the largest sources of non-OPEC oil supply in...
Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one official saying that the hydrocarbon resources found at the Stabroek block so far is just...
Oil companies operating in Brazil have long complained about delays getting drilling permits and environmental impact reports approved by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA). Just recently, S&P Global Platts reported that Brazil’s National Energy...
By the time ExxonMobil acquired rights to explore the 6.6 million-acre Stabroek block 120 miles offshore Guyana, 22 wells, from as far back as the 1970s, had already been drilled by other companies on the coastal shelf outside the...
Oil producers around the world, particularly in locations like Guyana, will soon have a window of opportunity as new analysis shows that 2021 could see monthly supply deficits reaching their highest level in years.
Low breakeven prices and good quality...
The role of international companies in the development of Guyana’s oil and gas industry is vital if the vast hydrocarbon resources discovered off the country’s coast are to be developed. Vice President, Bharrat Jagdeo, says the objective must be...
The drill campaign offshore Guyana is set to ramp up in 2021 with multiple wells being targeted across several blocks. According to Westmount Energy Limited, the drill campaigns will happen in a very compressed timeframe for its investors.
The junior...
SBM Offshore and U.S. oil major ExxonMobil are in discussions regarding the extension of the lease and operate durations for the floating production storage and offloading vessels (FPSOs) targeting oil production at the Stabroek block offshore the South American...
Despite challenges both at the global and domestic levels, investment in Guyana’s oil and gas sector has remained robust in recent years. In fact, Americas Market Intelligence Co-Director, Arthur Deakin has pointed out that between 2015 and 2019, oil...
With the commissioning of the gas compression system on the Liza Destiny FPSO and reduction of flaring to pilot levels, ExxonMobil says the lessons learnt from the issue which resulted in a prolonged period of flaring are being factored...
