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Stabroek Block co-venturers initiate purchase of Liza Unity FPSO

OilNOW -
Hess Corporation on October 25 indicated, in a Q3 earnings report, that the purchase process for the Liza Unity floating production, storage and offloading (FPSO) unit has begun.  The FPSO is currently producing approximately 250,000 barrels of oil per day...
News

Chevron’s deep pockets could see more “adventurous drilling” in Stabroek Block – Deakin

Shikema Dey -
The move by Chevron to buy out Hess was not so much a surprise to Americas Market Intelligence (AMI) Director of Energy, Arthur Deakin. Why? Because of the current market trend of majors with deep pockets taking over smaller...
News

Recovered Stabroek Block expenses exceed US$14 billion at H1, 2023

Kemol King -
ExxonMobil, Hess and CNOOC, have reached a significant cost recovery milestone as they develop the immensely lucrative Stabroek Block. As of the first half of 2023, the Stabroek Block partners have successfully recovered over US$14 billion in investments. This...
News

Exxon has “healthy inventory of drilling prospects” planned for Stabroek Block – Hess CEO

OilNOW -
Hess Corporation’s Chief Executive Officer (CEO), John Hess has lauded the Guyana government’s decision to approve a request for a one-year extension to explore the Stabroek Block, thereby providing enough room to execute a healthy inventory of drilling prospects.  Hess...
News

Routledge talks gas extraction techniques for Stabroek Block gas reserves

OilNOW -
ExxonMobil is exploring different facility options for the exportation of gas from Guyana. Alistair Routledge, ExxonMobil Guyana President, discussed Guyana's potential as a deepwater oil producer during an August interview with S&P Global in London. Guyana has been in the...
News

Oceaneering gets contract for jumper, subsea field development installation in Stabroek Block

OilNOW -
Oceaneering International, Inc. has announced the successful acquisition of two international contracts through its Offshore Projects Group (OPG) segment, boasting a total combined value exceeding US$100 million. Oceaneering has been awarded a project in the Stabroek block, offshore Guyana. The...
News

Stabroek Block supplied 12 million crude barrels to market in July

Kemol King -
In July 2023, the Liza projects at Guyana's Stabroek Block continued to demonstrate reliable production. An analysis of data supplied by the Ministry of Natural Resources shows that the projects collectively averaged 387,620 barrels per day (bpd) in July,...
News

ExxonMobil, partners have not recovered their Stabroek Block investments as yet

OilNOW -
Oil revenues generated by ExxonMobil and partners from the Stabroek Block have not yet matched the major investments they have made into exploring for crude and developing those fields. The companies have sanctioned more than US$40 billion in projects...
News

Sixth Stabroek Block project Whiptail to cost US$12.9 billion – EIA

OilNOW -
ExxonMobil Guyana’s next targeted development - Whiptail - is expected to cost US$12.933 billion (GY$2.690 trillion) according to the project's Environmental Impact Assessment (EIA). Exxon said it has not yet made a final investment decision (FID) on Whiptail and...
News

Basher-1, Lancetfish-2 new targets in Stabroek Block drill campaign – Hess President

OilNOW -
The search for more oil in Guyana’s Stabroek Block remains at a steady pace with the partners announcing more prospects to be tapped.  Chief Operations Officer and President of Hess Corporation, Greg Hill shared that the partners plan to drill...
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Guyana nominates candidates for sole expert to resolve US$214 million audit dispute with Exxon-led group

Guyana has nominated multiple candidates for the role of sole expert to resolve a dispute with ExxonMobil and its...

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