The projected breakeven price for development of oil fields offshore Suriname is expected to reduce in coming years as more discoveries are made, and production gets underway. So far, three discoveries have been made at Block 58, estimated to contain...

The drillship Stena Carron is set to depart the Tanager-1 well site in the Kaieteur block and will take up a new assignment at the Redtail area, back in the adjacent Stabroek block, for an exercise that is set...

Guyana is poised to significantly reduce its reliance on imported fossil fuel to meet its energy needs through the utilisation of natural gas from the offshore Liza field at the Stabroek block. There has been broad-based consensus on the...

Offshore exploration and production activities in South America have long been dominated by Brazil with its vast offshore pre-salt developments. State oil company Petroleo Brasileiro SA (Petrobras) alone accounted for nearly 88% of the continent’s deepwater OPEX in the...

Saipem has signed a Long-Term Agreement (LTA) with Saudi Aramco for onshore engineering and construction activities. The deal, which is for a duration of twelve years, entails efficiency activities on existing facilities and is part of Saudi Aramco’s broader...

Payara, ExxonMobil’s 3rd development at the Stabroek Block offshore Guyana, has made way for the award of the largest subsea contract in the oil and gas industry since 2014. This comes in a year which one industry analyst describes as...

The results from the Tanager-1 exploration well at the Kaieteur Block offshore Guyana announced on Tuesday brings back into focus the risky nature of exploration, even in a basin where the success rate has been well above 90 percent. Since...

In an effort to ensure production within the Stabroek Block is efficiently managed at all times, ExxonMobil Guyana plans to implement a secure, high-speed fibre-optic/wireless transport service. The project will ultimately connect the oil major’s onshore and offshore facilities...

ExxonMobil Guyana said on Tuesday it will be looking to evaluate results from the Tanager-1 well at the Kaieteur Block offshore Guyana where hydrocarbon resources discovered were not in commercial quantities. “We can confirm that Tanager-1, the first well in...

The Tanager-1 exploration prospect - the deepest well ever drilled in the Guyana-Suriname Basin to date – is being considered as non-commercial as a stand-alone development. According to a press update from Ratio Guyana Limited, which has a 25% interest...