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Exploration

Full gas potential of Stabroek Block will be tested over next four years

OilNOW -
ExxonMobil Guyana is expected to test the gas potential of the Stabroek Block with the aim of having such resources potentially underpin an independent project.  During a recent energy conference, Chief Executive Officer of Hess Corporation, John Hess said the...
News

Jagdeo confirms Exxon’s Stabroek Block exploration agreement extended by one year

OilNOW -
Guyana's Vice President, Dr. Bharrat Jagdeo has confirmed that the exploration agreement for the Stabroek Block, initially set to expire in 2026, has been extended by one year. Jagdeo confirmed that the extension aims to account for the challenges...
News

Saipem Guyana seeks local companies for ground transportation services as operations escalate in Stabroek Block

OilNOW -
Guyanese companies in strict compliance with the country’s local content law are invited to submit expressions of interest (EOIs) for ground transportation services for Saipem Guyana, one of ExxonMobil’s leading Stabroek Block contractors.  Saipem in a public EOI request stated...
News

Stabroek Block boosting Guyana’s capacity to borrow, repay loans

OilNOW -
While Guyanese authorities recently signed onto two hefty loan agreements with Qatar and Saudi Arabia totalling US$500 million, Vice President, Dr. Bharrat Jagdeo has assured that authorities still have a firm grip on its debt management reins. The official said...
News

ExxonMobil’s Tilapia-1 discovery emerges as Stabroek Block’s largest find

OilNOW -
Since 2015, ExxonMobil has made over 35 discoveries at the prolific Stabroek Block offshore Guyana with the Tilapia-1 find encountering the largest high-quality oil-bearing sandstone reservoir – bigger than the world-class Liza-1 - which put the South American country...
News

Three international insurance companies backing policy for Stabroek Block

OilNOW -
ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), has renewed its US$600 million per occurrence insurance policy for the Stabroek Block for the period 2023 - 2024. This was confirmed recently by Counsel for EEPGL, Edward Luckhoo SC. Luckhoo...
News

Stabroek Block singlehandedly propelling Guyana’s economy forward

Kemol King -
The growth of oil production offshore Guyana is singlehandledly propelling Guyana’s national economy forward. That much has been obvious for the past few years. An examination of the data shows just how striking this correlation is between the two.  In...
News

Exxon’s petroleum agreement for prolific Stabroek Block expires in October 2026 – Hess President

OilNOW -
Exxon's phenomenal success in the Stabroek Block can see the operator making a multi-billion-barrel addition to the already discovered 11 billion oil-equivalent barrels, once its exploration success keeps pace with what it has been, to date. Over the last...
Exploration

Exxon to conduct suite of studies to optimise Stabroek Block projects

OilNOW -
ExxonMobil Guyana has agreed to conduct a suite of studies to ensure the operational efficiencies and integrity of its Stabroek Block projects are preserved for decades to come.According to the Petroleum Production Licence for the Uaru Development Project, Exxon’s...
News

Five sanctioned Stabroek Block developments offer strong fiscal cushion for GtE Project

OilNOW -
Guyana’s Liza Destiny and Liza Unity floating production, storage and offloading (FPSO) vessels have allowed the country to earn a whopping US$2.2 billion in royalties and profit oil in a three-year period spanning from March 11, 2020 to March...
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Look beyond the barrels for the success of Guyana’s oil industry – Ali 

President Irfaan Ali has urged Guyanese to measure the success of the oil industry by more than just the...

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