The projected revenues the South American country of Guyana is set to receive from oil production have been steadily growing since approval of the first offshore development at the giant Liza field.
The Liza Phase 1 Development, sanctioned in June...
Hess Corporation (NYSE:HES), a 30 percent co-venturer in Guyana’s Stabroek Block, on Tuesday announced an oil discovery at the Esox-1 exploration well located in Mississippi Canyon Block No. 726 in the deepwater Gulf of Mexico.
Esox-1 was drilled in 4,609 feet (1,405...
Brazil continues to drive global floating production storage and offloading vessels (FPSOs) deployment with 21 planned and announced FPSOs during the period 2019 to 2025, according to GlobalData.
Brazil is expected to deploy a total of 11 planned and ten...
CNOOC Ltd, the listed arm of China’s largest offshore oil and gas producer, on Thursday reported a 27.9% jump in capital spending in the third quarter amid Beijing’s push to boost oil and gas exploration and production.
Reuters reported that...
With oil production slated to begin within months, Guyana’s former Minister of Natural Resources and the Environment, Robert Persaud, says there is need for a ten-year cohesive, comprehensive plan to efficiently utilise the new-found wealth for the nation of...
SBM Offshore said on Wednesday it completed the project financing of the Liza Unity FPSOÂ for a total of US$1.14 billion. The project financing was secured by a consortium of nine international banks. The Company said it expects to draw...
Veolia Water Technologies said its VWS Westgarth subsidiary has been awarded a multimillion dollar contract by SBM Offshore for the supply of a seawater treatment package for the Liza Unity floating production, storage and offloading unit (FPSO), to be...
Since Guyana gained its independence in 1966, the country’s chief economic assets have been its natural resources, mainly its pristine rainforests, sugarcane plantations, rice fields, and bauxite and gold reserves.
But despite exploitation of these resources over the decades, the country has...
From the Dutch-speaking shores of Suriname to the island nations in the Caribbean Sea, mega oil discoveries in Guyana is fueling renewed hope for crude across the region.
Norway-based Rystad Energy says the industry has high hopes after the prolific...
The South American country of Guyana is one of several prospective locations French oil major Total is targeting for the addition of new reserves to its portfolio.
Industry analyst Wood Mackenzie says the company’s portfolio is diversified across different resource...
