ExxonMobil Corporation is reportedly planning to wind down oil production in Equatorial Guinea and close shop after its licence expires in 2026. According to a Reuters report, Exxon has cut production in Equatorial Guinea to less than 15,000 barrels...
Since 2019, UK energy investment firm, Westmount Energy Limited has participated indirectly via its investee companies in the drilling of exploration wells on the Kaieteur, Canje, and Orinduik Blocks. While those efforts have not produced a commercial, standalone discovery,...
Guyana, the fastest growing economy in the world, is currently experiencing unprecedented growth and interest from investors across the world as a result of an oil boom that is giving it a competitive edge over many of its neighbours.
Government’s...
Guyana isn’t the only country where ExxonMobil is accumulating discoveries. The company has made its 18th discovery of oil in Angola Block 15, and its first in 20 years, with the recent announcement of an oil find at the...
Guyana’s Vice President, Dr. Bharrat Jagdeo, announced Thursday that the government settled the main fiscal terms for the new model production sharing agreement, including 10% royalty and a 65% cost recovery cap.
These terms, he explained, will apply for blocks awarded at...
TotalEnergies – operator of Suriname’s offshore Block 58 held its Q3 Earnings Conference last Thursday to appraise shareholders of its massive US$6.6 billion haul for the quarter.
But its Chief Financial Officer (CFO), Jean-Pierre Sbraire, made no mention of any intended final...
Offshore supply ship HOS Brass Ring is one of several vessels supporting an Environmental Baseline and Geotechnical Survey operation at the ExxonMobil-operated Stabroek Block offshore Guyana. The vessel departed from Carenage, Trinidad and Tobago, last Wednesday and arrived in...
With two new discoveries announced on Wednesday, 2022 is being referred to as the best exploration year in Guyana for the ExxonMobil-led co-venturers. Exxon has a 45% stake in the 6.6 million acres Stabroek Block, with Hess Corporation holding 30% and...
Data from the Guyana government and the Stabroek Block co-venturers (COVs) indicates that costs recovered from oil production have already exceeded the development cost for the Liza Phase 1 project.
Following the world-class Liza discovery in 2015, the partners made...
Considering their efforts at marrying environmental protection with accelerated production, ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), along with its partners, have clearly satisfied the government’s request for stellar operational performance in the Stabroek Block.
This much was...
