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10-12 wells planned for Stabroek block next year to unlock more resource growth – Chevron CEO

OilNOW -
Chevron Corporation, now an indirect stakeholder at the Stabroek Block, recently informed the market that 10 to 12 wells are planned for this world-class concession next year. Given ExxonMobil’s past success with hitting back-to-back discoveries, Chevron’s Chief Executive Officer...
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MODEC starts construction of Errea Wittu FPSO for Exxon’s 5th Stabroek block development

OilNOW -
MODEC announced the inaugural steel-cutting ceremony for the Guyana-bound Errea Wittu floating production, storage and offloading vessel (FPSO) in China, on November 16. The firm secured its initial order to supply an FPSO to Guyana in May 2023, commissioned...
News

SBM Offshore proud of another start-up ahead of schedule at Exxon’s Stabroek Block

OilNOW -
SBM Offshore has once again delivered and put into operation another floating production storage and offloading (FPSO) vessel offshore Guyana ahead of funding schedule and at industry-leading pace. The Prosperity FPSO began oil production at the ExxonMobil-operated Stabroek Block...
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Stabroek block resource update to come “when we see significant change” – Exxon

OilNOW -
ExxonMobil has been racking up discoveries in Guyana’s Stabroek block after hitting the 11 billion-barrel of oil equivalent mark. But this has not yet resulted in an upward revision of the resource estimate.  “We continue to integrate those results - both...
News

Jagdeo confirms ‘Hess Guyana’ still retains Stabroek block interest despite Chevron buyout of parent company

OilNOW -
Vice President Dr. Bharrat Jagdeo clarified during a November 2 media conference that Hess Guyana Exploration Limited, a subsidiary of Hess International, still controls the 30% working interest in the Stabroek block, where 11 billion barrels of oil equivalent...
News

Exxon seeking oceanology, meteorology consulting services for Stabroek block operations

OilNOW -
ExxonMobil Guyana Limited (EMGL) is actively searching for meteorology and oceanography consulting services for its Stabroek Block operations in Guyana. Stabroek Block supplied 12 million crude barrels to market in July | OilNOW  In a public Request for Information (RFI),...
News

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...
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PPP/C outlines Energy Priorities: Gas-to-Energy, Local Content, post-oil planning

Maintaining Guyana’s “favorable” fiscal regime with no increase in royalties and bringing the Gas-to-Energy project online are among the...

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