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Exxon sparks IMF concern with weighty returns in tiny Guyana

OilNOW -
(Bloomberg) Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play that the tiny South American country should rewrite its tax laws, the International Monetary Fund said. While Guyana should honor the existing deal, future...
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ExxonMobil ‘passionate’ about gas to shore project but no final decision yet – Brasington

OilNOW -
The prospect of bringing natural gas to shore in Guyana for the primary purpose of fueling power plants to produce low-cost electricity remains a project ExxonMobil is passionate about but the company says no final decision has yet been...
News

Volume of gas, cost of bringing it to shore would determine economic feasibility

OilNOW -
Without a comprehensive study being conducted to determine what the cost would be to bring natural gas to shore and the associated land based infrastructure required to facilitate this, any talk about its economic feasibility hinges on speculation. A well-placed...
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‘19 commercial discoveries in 2017’ – CNOOC Limited

OilNOW -
CNOOC Limited, the owner of Nexen which is a 25% joint venture partner in the Stabroek Block offshore Guyana along with ExxonMobil and HESS, recently announced that for 2017 its reserves and profit improved significantly. In announcing its performance for...
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Saipem contracts Guyanese company for shorebase services

OilNOW -
Saipem America Incorporated has indicated that it will be contracting a Guyanese company to provide shore-base services for its operations in the Liza Field in the Stabroek Block. The company - a tier one contractor of ExxonMobil Guyana – has been...
News

No guarantee unprecedented rate of oil discoveries will continue – ExxonMobil Country Manager

OilNOW -
Despite the discovery of more than 3.2 billion barrels of oil off the Guyana coast, the South American country’s offshore basin still remains risky with no guarantee that the unprecedented rate of discoveries – seven to date – will...
News

Guyana basin still risky for oil companies – Source

OilNOW -
The notion that the Guyana basin has been completely de-risked because of the multiple oil discoveries made by US oil major, ExxonMobil, is misleading says a source. Speaking to OilNOW on condition of anonymity, the source said discoveries by a...
News

ExxonMobil to begin new hunt for oil at Sorubim-1 well in Guyana

OilNOW -
On March 30, 2018, ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) and its joint venture partners Hess and CNOOC Nexen will commence drilling operations at the Sorubim-1 well within the Stabroek Block of the Guyana Maritime Zone. The...
News

Fr. Commonwealth SG leads Guyana defense in ICJ border case   

OilNOW -
Former Commonwealth Secretary-General, Sir Shridath Ramphal, will again lead the Guyanese legal team of defense lawyers in a border controversy case, this time against Venezuela - to be called shortly by the International Court of Justice (ICJ). The confirmation was...
News

We need oil partners with clout and bravery in face of territorial aggression – Trotman

OilNOW -
Guyana must consider a number of factors when granting international oil companies access to explore in its waters, which, according to Minister of Natural Resources, Raphael Trotman, include the recognition that those with the resolve to forge ahead in...
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TotalEnergies identifies additional wells to sustain GranMorgu plateau production

PARAMARIBO, SURINAME – TotalEnergies has identified additional wells that will be drilled to sustain plateau production at its landmark...

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