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Exxon kicks off 2024 Stabroek campaign with resumed drilling at Bluefin well

OilNOW -
ExxonMobil Guyana has recommenced exploration drilling operations at the Bluefin-1 well site within the Stabroek Block. This continuation of exploration activities was announced in a notice to mariners issued by Guyana's Maritime Administration Department (MARAD). The Stena Drillmax has been...
News

Stabroek COVs could exceed 2024 well projection with Chevron’s takeover of Hess – Deakin

OilNOW -
Chevron’s recent takeover of Hess has major implications for Guyana’s oil industry and its blossoming economy, according to Americas Market Intelligence (AMI) Director of Energy Practice, Arthur Deakin. For instance, Deakin foresees an uptick in the wells planned for...
News

Eco elated at Guyana approval for high-impact Orinduik block

OilNOW -
Eco Atlantic Oil & Gas Ltd. has garnered approval from Guyana’s Minister of Natural Resources for its acquisition of a 60% interest in the Orinduik block from Tullow Oil. This development stems from an agreement made in August between...
News

CGX, Frontera and the Corentyne block: What to look out for

Kemol King -
CGX Energy and Frontera Energy are expected to report to the market soon about their plans for the Corentyne block offshore Guyana. Frontera’s earnings report for the third quarter is expected on November 9, and CGX’s usually falls in...
News

Exxon was faced with a “drill or drop” decision regarding Kaieteur block – Routledge 

Shikema Dey -
ExxonMobil was faced with a “drill or drop” decision regarding Guyana’s offshore Kaieteur Block, says President of the local affiliate, Alistair Routledge.  On September 28, Exxon indicated that it was leaving the block. Another partner in the block - Hess,...
News

Highly likely Corentyne Block could be in production by 2030 – Bharrat 

OilNOW -
High hopes exist in Guyana for oil production outside of the Stabroek Block.  This is evidenced by recent statements from the Minister of Natural Resources, Vickram Bharrat who said that the Corentyne Block could move to production in the next...
News

Shadow oil minister says selective application of new contract terms blocking oil development

Kemol King -
Guyana’s shadow oil minister, David Patterson, has complained that the application of Guyana’s new fiscal terms to offshore contracts, among other things, has created an uneven playing field. This issue, Patterson pointed out during an October 6 press conference,...
News

TotalEnergies sells 40% stake in Angola’s Block 20 to Petronas

OilNOW -
TotalEnergies EP Angola Block 20 has finalised the sale of a stake in a valuable Angola block to PETRONAS ANGOLA E&P LTD (PAEPL), a company belonging to the PETRONAS group of companies.  Petronas has paid US$400 million for a 40%...
News

Exxon, Hess withdraw from Kaieteur Block offshore Guyana

OilNOW -
ExxonMobil Guyana has indicated that it is withdrawing from the Kaieteur Block. Additionally, Ratio Petroleum Energy Limited has informed the market that Hess is also withdrawing from the block. “ExxonMobil Guyana has exited the Kaieteur block offshore Guyana, with participating...
News

Exxon submits Cumulative Impact Assessment for 12-well drill campaign in Guyana’s Canje Block

OilNOW -
ExxonMobil Guyana has submitted to the Environmental Protection Agency (EPA), the Cumulative Impact Assessment (CIA) and Environmental Impact Statement (EIS) for its 12-well exploration and appraisal drilling campaign in the Canje Block.  A public notice outlined that “In accordance with...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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