(Hart Energy) Although unfavorable market conditions with lower but slowly improving oil prices left E&P companies’ exploration budgets battered in 2017, the year still managed to bring a few notable gems that put exploration into the positive spotlight.
ExxonMobil Corp....
The US$18M signing bonus that ExxonMobil paid the Government of Guyana upon the signing of an updated Production Sharing Agreement (PSA) in 2016 will not be cost recoverable by the US oil major.
This means that in computing costs when...
The Production Sharing Agreement (PSA) between the Government of Guyana and ExxonMobil affiliate Esso Exploration and Production Guyana Limited was released today at a special meeting held at the Ministry of the Presidency in Georgetown, Guyana. The agreement has...
British High Commissioner to Guyana, Greg Quinn, says the Guyana government and oil companies will ultimately have to decide what aspects of their agreements would be disclosed but this should apply to all companies equally.
Multiple calls have been made...
Hess Corporation on December 22, 2017 announced that it had completed the previously announced sale of its subsidiary Hess Norge, which owns interests in the Valhall and Hod fields in Norway, to Aker BP ASA for total proceeds of...
(Offshore Engineer) While exploration hasn’t been as hot as it used to be, the finds this year have been big and plentiful. Wood Mackenzie has provided the year’s 10 biggest finds by volume.
#1 – Yakaar, Senegal
In May this year,...
TechnipFMC has landed an Engineering, Procurement & Construction (EPC) contract with Statoil for its Snorre Expansion Project.
It comes as the Norwegian operator confirmed an additional 25-year investment. The Snorre Expansion contract covers the delivery of subsea production systems and...
SBM Offshore said on Wednesday that on December 19, 2017 it completed the project financing of FPSO Liza Destiny for a total of US$720M.
The project financing was secured by a consortium of twelve international banks. The Company expects to draw the...
The Guyana Government in its push to prepare for an Oil and Gas sector has, as part of its incentive regime for the private sector, waived all Customs duties for machinery and equipment imported to set up refilling stations...
Fresh off its Turbot-1 well discovery in the South American nation of Guyana, ExxonMobil has made a discovery at the Avestruz-1 well drilled offshore Equatorial Guinea, though the commerciality of the find is still to be determined.
The well was...
