Global project sanctioning is set for a staggering decline this year of over 75% from 2019 levels, as the COVID-19 pandemic has caused E&P spending to drop much lower than what was expected at the beginning of the crisis....
An analyst at energy and commodities information company S&P Global Platts anticipates that ExxonMobil’s 3rd proposed development at the Stabroek Block offshore Guyana will be delayed by a year.
The Payara development, which is targeting 180,000 to 220,000 barrels of oil...
The drillship Noble Don Taylor will be moving from the Liza Field to the Redtail-1 well site within the prolific Stabroek Block as ExxonMobil continues its search for more oil offshore Guyana.
A notice to mariners published in the local...
Country could lose up to US$1.6 billion from delays in project approvals for Payara-Pacora development
Up to 75 million barrels of oil on the line
The prolonged delay in concluding the highly contested Guyana elections is becoming...
The largest component of forecast offshore Oil Field Equipment (OFE) expenditure will be fixed and floating production equipment, totalling $139 billion, bolstered by activity in Latin America, particularly Guyana, where regional expenditure on the floating platform sector is set...
The South American country of Guyana entered 2020 with great expectations for a bright future as oil production got underway last December and an upgrade in the offshore Stabroek Block resource estimate was announced in January along with the...
Nine bases throughout the Americas reached the critical milestone of a 1,000 days without a recordable incident on June 18, 2020: making them 1,000 days Target Zero for helicopter giant Bristow.
The company said the milestone was achieved by the...
With only 19 discoveries to date, geological experts at Wood Mackenzie posit that the Guyana basin stands as the most exciting exploration hotspot, with ExxonMobil leading the way in showcasing the basin’s outstanding prospectivity.
In one of its special reports...
Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely be limited to a single unit in 2020, Rystad Energy believes, as exploration and production firms slash budgets...
Investors like stability and predictability. Knowing what to expect in the future forms the basis for multimillion-dollar investments in the present, or alternatively, taking those resources to another more favourable destination.
In an article published in Forbes on July 2,...
