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Exploration

Yellowtail, Tilapia are biggest ‘high-impact’ oil discoveries so far for 2019

OilNOW -
ExxonMobil’s discoveries at the Yellowtail and Tilapia wells in the Stabroek Block offshore Guyana were the largest made in the first half 2019. Westwood Global Energy Group, in a report published on August 12, said high-impact exploration drilling activity increased substantially...
Exploration

Tullow strikes oil offshore Guyana

OilNOW -
Oil has been discovered outside the prolific Stabroek Block offshore the South American country of Guyana. Tullow Oil announced on Monday that Evaluation of logging data confirms that Jethro-1 is the first discovery on the Orinduik licence and comprises...
News

Revised model PSA targeting future licensing rounds – Energy Department confirms

OilNOW -
Guyana’s President, David Granger has made it clear that his APNU+AFC coalition administration respects the sanctity of contracts. This is a position the Department of Energy (DE) embraces, with its Director confirming to OilNOW on Friday that revisions to...
News

Peterson lands Repsol deal for Guyana wildcat

OilNOW -
(Upstream) Repsol has handed UK player Peterson a deal to be the main logistics contractor for the Spanish major’s upcoming wildcat on the Kanuku block off Guyana. Peterson will provide Repsol with integrated supply base operations management, logistics and pipeyard...
News

CNOOC to take majority interest in West African petroleum licenses

OilNOW -
(Reuters) - Australian oil and gas explorer FAR Ltd, which holds a stake in licenses for oil drilling off the coast of West Africa’s Guinea-Bissau, said a unit of China National Offshore Oil Corp will take a majority stake...
News

Exxon targeting Tripletail, Uaru, and Mako as oil hunt intensifies offshore Guyana

OilNOW -
With more than 6 billion barrels of oil already discovered off the Guyana coast, ExxonMobil is leaving no stone unturned in its quest to find more crude in the 6.6 million acres Stabroek Block. The US oil major is...
News

Exxon earns $3.1 billion in Q2 2019 as Liza 1 approaches start-up

OilNOW -
Exxon Mobil Corporation on Friday announced estimated second quarter 2019 earnings of $3.1 billion, or $0.73 per share assuming dilution, compared with $4 billion a year earlier. Earnings included a favorable identified item of about $500 million, or $0.12...
News

Guyana seeking expert to review Payara development plan

OilNOW -
Authorities in Guyana have begun the process for hiring an expert to review the Field Development Plan (FDP) submitted by US oil major ExxonMobil for the 220,000 barrels per day Payara Development. “The Department of Energy (DE) has received the...
News

Liza Phase 2 targeting 600 million barrels of oil

OilNOW -
ExxonMobil’s recently sanctioned Liza Phase 2 development offshore Guyana will be targeting 600 million barrels of oil when it gets underway in 2022. The US$6 billion Liza Phase 2 Development project was sanctioned in May and will have a total...
Exploration

Liza development drilling, installation 70% complete

OilNOW -
Drilling of the development wells for the Liza Phase 1 project and installation of subsea equipment are 70 percent complete as the South American country of Guyana forges ahead to first oil now just months away. “Drilling of the Phase...
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Guyana recognized as one of only nine new superbasins – S&P Global

Guyana has been identified as one of only nine new superbasins worldwide to deliver over five billion barrels of...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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