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Stabroek Block profitable even if oil prices dropped by half 

OilNOW -
Guyana has become the bedrock of ExxonMobil’s post-COVID corporate revival, an Aug 1 piece by Bloomberg’s Kevin Crowley outlined.  The Texas oil giant is the operator with a 45% stake in the Stabroek Block, a vast oil field spanning 6.6...
News

Exxon looking to acquire seafloor seismic services for Stabroek Block

OilNOW -
ExxonMobil is looking to secure seafloor seismic services to enhance its activities at the Stabroek Block offshore Guyana where it has found more than 11 billion barrels of oil equivalent resources since 2015.  The company in a public request...
News

Stabroek Block operator ExxonMobil tops June 2024 charts for global market cap.

OilNOW -
Texas-based oil major ExxonMobil, operator of Guyana’s Stabroek Block ranks number one on global charts for June 2024, based on market capitalization among the top oil companies in the United States. Market capitalization, sometimes referred to as market cap,...
News

Caribbean Court third in a row to quash activist lawsuit against Stabroek Block permit 

OilNOW -
The Caribbean Court of Justice (CCJ) dismissed an appeal filed by Guyanese citizen Ramon Gaskin challenging a local judgment that determined the Stabroek Block partners did not require separate licenses to operate offshore.  Gaskin’s initial application sought to quash the...
News

Jaguar FPSO launched, on track for delivery to Stabroek Block 

OilNOW -
Chinese shipyard Shanghai Waigaoqiao Shipbuilding (SWS) has launched the Jaguar Floating Production Storage and Offloading vessel (FPSO) being constructed for ExxonMobil’s Whiptail development.  SWS announced on Friday that the vessel, a Multipurpose Floater 5 (MPF5), was launched and is on track...
News

Hammerhead tapped as Exxon’s seventh Stabroek Block development 

Shikema Dey -
ExxonMobil has selected Hammerhead as its seventh development in Guyana’s Stabroek Block.  The company filed for environmental authorization on June 25. The development is expected to target between 120,000 and 180,000 barrels per day (b/d).  Unlike the previous developments, Hammerhead is expected...
News

Stabroek Block cost recovery to exceed US$30 billion in 2024

Kemol King -
Cost recovery for investments into the Stabroek Block petroleum operations are set to accumulate to approximately US$31 billion by the end of 2024.  The Stabroek Block Production Sharing Agreement, inked by the Guyana government, ExxonMobil, Hess and CNOOC, allows the...
News

Appraisal kicks off at one of Exxon’s biggest Stabroek Block finds: Lau-Lau 

OilNOW -
ExxonMobil has begun appraising the Lau-Lau find, according to a recent notice published by Guyana’s Maritime Administration Department (MARAD)  Activities are being undertaken by the MODU Sam Croft rig and are expected to end around July 30.  MARAD said the Lau-Lau-2...
News

Stabroek Block partners see results in funded hinterland poultry project

OilNOW -
A hinterland poultry project called ‘Egg Sandwich’ is returning tangible results, according to an update from the Greater Guyana Initiative (GGI), its funder.  GGI, launched by the Stabroek Block partners, said Egg Sandwich “is transforming hinterland poultry production, providing both...
News

Exxon insures eight-well Stabroek Block drill campaign

OilNOW -
ExxonMobil has insured its eight-well Stabroek Block exploration campaign for the period February 2024 to February 2025, in conjunction with its Stabroek Block partners, Hess and CNOOC. The contract of insurance, published in Guyana’s Official Gazette, sets a limit of...
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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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