Development cost for the 120,000 barrels per day Liza Phase 1 project offshore Guyana has been reduced by close to US$1 billion according to an official of Hess Corporation, a 30 percent co-venturer at the 6.6 million acres Stabroek...
Less than 5 years ago Guyana was listed as having no known oil resources. Now, with more than 8 billion oil-equivalent barrels estimated to be lying at the Stabroek Block, the country has surpassed Mexico, Norway and 77 other...
Hess Corporation on Tuesday announced a $3 billion Exploration and Production capital and exploratory budget, of which more than 80% will be allocated to high return investments including Guyana.
In a press release, Hess said that the $3 billion budget...
The new year began in Guyana with the first oil lift followed by ExxonMobil’s 16th discovery and the addition of more than 2 billion barrels of recoverable oil resource at the 6.6 million acres Stabroek Block.
All this good news come...
Director of Guyana’s Department of Energy, Dr. Mark Bynoe, today announced that ExxonMobil has made its 16th oil discovery offshore Guyana. The new discovery was made northeast of the producing Liza field at the Uaru well, on the Stabroek Block.
This new...
In an environment of oil supply glut, a new player entered the scene. Guyana, a nation bordering Venezuela and Brazil - two countries with large oil reserves - has established itself as an oil producer as of December 20...
The presence of giant oil and gas fields in South America, stretching all the way from the Santos basin in the south to the Guyana-Suriname basin to the north, have long been known, with estimates of tens of billions...
The global demand for oil is expected to remain over 100 million barrels per day according to Saudi Aramco CEO Amin Nasser, signaling good news for new producers such as Guyana.
“There is good penetration from renewables and electric cars...
With several billion barrels of oil equivalent already discovered and the potential for more being found remaining high, developing the resources at optimum pace will ensure highest returns for the South American country of Guyana and the Stabroek Block...
In just four years the deepwater off the coast of Guyana has seen a significant uptick in traffic with the ramp up of exploration in the prolific Stabroek Block and the preparation and start of the Liza Phase 1...
