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Kosmos comes up dry again offshore Suriname

OilNOW -
Kosmos Energy said on Wednesday it was abandoning the Pontoenoe-1 well offshore Suriname after failing to find oil. This is the second dry well in a row drilled by the company in the Dutch-speaking South American country. The company came...
News

In South America ExxonMobil’s success makes Guyana-Suriname Basin second only to pre-salt Brazil – GlobalData

OilNOW -
Following the recent Hammerhead-1 discovery by ExxonMobil in the Stabroek block in Guyana, Adrian Lara, Senior Oil and Gas Analyst at GlobalData, a leading data and analytics company, offered his view on the impact this could have on the upstream...
News

Former SBM CEO, Executive sentenced to prison in bribery scheme

OilNOW -
A former CEO and former executive of an oil services company were sentenced to prison on Friday, September 28 for their involvement in an international bribery conspiracy, the US Department of Justice said in a press release. Assistant Attorney General...
News

CNOOC considering selling US oil assets as Guyana discoveries redefine company’s perspective

OilNOW -
China’s CNOOC which owns a 25 percent interest in the Stabroek Block offshore Guyana is considering selling parts of its U.S. oil assets in the Gulf of Mexico, Reuters reported a company spokesperson as saying on Thursday.  The spokesperson...
News

No guarantee other oil companies in the Guyana Basin will strike it big like Exxon – Wood Mack

OilNOW -
The Guyana-Suriname Basin is a vast expanse of deep to ultra-deep water with multiple play types where, despite ExxonMobil’s unprecedented success, exploration is still a high-risk venture. But Exxon’s 9 discoveries, which to date, amounts to more than 4...
News

CNOOC Limited expecting 58,700 bpd by 2020 from Penglai production

OilNOW -
CNOOC Limited one of the three partners in Guyana’s offshore Stabroek Block, announced on September 18, 2018 that the Penglai 19-3 oilfield project has commenced production. The project, known formally as the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project is...
News

Call for halt to oil production is ‘self-promoting stunt in pursuit of ulterior motive’ – former minister

OilNOW -
Debate on a myriad of issues continues in Guyana as the country gears up to become a major oil producer in the region. A former government official is describing as ‘disturbing’, a recent call for the Guyana government to...
News

Tullow Oil plans to drill first Guyana well in third quarter of 2019

OilNOW -
(Reuters) - Tullow Oil plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year in its Orinduik license bordering discoveries by Exxon, a spokesman said on Wednesday. Exxon and U.S. partner...
Exploration

Guyana’s oil fortune rapidly increasing

OilNOW -
‘Unprecedented’ is the one word that sums up the remarkable string of oil discoveries which US supermajor ExxonMobil has been making off the Guyana coast since 2015. The company’s success rate for finding crude in an area five and...
News

World-class Liza field accounts for 15% of all crude found globally since 2015

OilNOW -
UK-based industry analyst Wood Mackenzie says Guyana has been one of the most dominant players in the oil and gas industry since 2015 with a record number of discoveries being made, most notable of which are those in the...
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Afreximbank COO pitches partnership for Suriname’s SMEs

PARAMARIBO, SURINAME – The African Export-Import Bank (Afreximbank) wants to be a long-term financial partner for small and medium-sized...

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