(Reuters, 23.Jan.2020) — Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview. The government is entitled to a portion of […]
Category: Guyana
Guyana energy
Oil Tanker Arrives To Export Guyana’s First Oil Lift
(Jamaica Observer, 19.Jan.2020) — The Marshall Islands registered crude oil tanker, Yannis P , has arrived here as the country will soon lift the first one million barrels of crude from the Stabroek Block offshore Guyana. Production in Guyana commenced on December 20, last year, less than five years after […]
How Important Is The Suriname Oil Discovery?
(Oilprice.com, 18.Jan.2020) — The discovery of the Maka field in offshore Suriname will become one of the main upstream stories of 2020, bringing Suriname onto the international oil map, potentially spawning a new race for the Dutch-speaking country’s still unallotted license blocks and concurrently boosting the investment potential of Guyana […]
Soesdyke Youth First To Test Guyana’s Oil
(Stabroek News, 16.Jan.2020) — A Guyanese offshore laboratory technician will go down in history as the person to test the first sample of Guyanese crude oil as it came through the Liza Destiny Floating, Production, Storage and Offload-ing (FPSO) vessel. According to an ExxonMobil release yesterday, Shivnarine Outar, a laboratory […]
Tullow Announces Update And Guidance
(Tullow, 15.Jan.2020) — Tullow Oil plc issued this update and guidance in advance of the Group’s 2019 Full Year Results. “Tullow has ended 2019 with average production of 86,700 bopd and free cash flow generation of c.$350 million. Since our December announcement, Tullow’s senior team has been working hard on […]
CNOOC Reveals 2020 Business Strategy, Plan
(CNOOC, 13.Jan.2020) — CNOOC Limited announced its business strategy and development plan for the year 2020. The company’s targeted net production for 2020 is 520 million to 530 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 64% and 36%, respectively. The company’s […]
Guyanese Diasporans Invited To Fill Industry Jobs
(Caribbean Life News, 7.Jan.2020) — Guyana is on the cusp of great wealth development, celebrating its historic oil discovery of approximately half a billion barrels, but as this new industry takes shape, Minister of Finance, Winston Jordan, expressed interest in seeing diaspora oil and gas professionals return home to fill […]
Will The West Lose Guyana To The Chinese?
(Fair Observer, 6.Jan.2020) — Guyana, home to just 750,000 people, is about to leap from one of the poorest to one of the richest countries in the world. The financial predators are circling, led by the Chinese. Guyana’s inexperience, incompetence and lack of Western interest will hand the Chinese a […]
Exxon’s Guyana Oil recovery Ramps Up Rating
(Stabroek News, 3.Jan.2020) — The commencement by ExxonMobil less than a fortnight ago of oil recovery from what is now firmly categorized as a “world class” oil find inside its Stabroek Block, while promising to yield lucrative medium to long term returns, it set to bring even quicker returns to […]
Eco Updates On Carapa-1 Well Offshore Guyana
(Eco, 3.Jan.2020) — Eco (Atlantic) Oil & Gas Ltd. notes the recent announcement by Tullow Oil (37.5%), in partnership with Repsol (Operator, 37.5%) and Total (25%), regarding the cretaceous age light oil discovery made at the Carapa-1 well on the Kanuku block, directly in board of the Orinduik Block offshore […]
Tullow Shares Drop On Carapa Well Doubts
(Reuters, 2.Jan.2020) — Shares of Tullow Oil dropped by nearly a fifth on Thursday as the Africa-focused oil producer’s update on the commercial viability of its new well offshore Guyana disappointed investors. Tullow said the Carapa well in the Kanuku offshore block contains oil with less than 1% sulphur content […]
Tullow Slumps On Guyana Oil Find News
(Bloomberg, 2.Jan.2020) — Tullow Oil Plc discovered light oil at its Carapa-1 well in Guyana, but the reservoir was smaller than the troubled company had expected prior to drilling. Shares fell as much as 20%. The independent oil producer’s first discovery of the new year comes after a calamitous 2019 […]
Tullow Announces Carapa-1 Well Result
(Tullow, 2.Jan.2020) — Tullow Oil plc announces that the Carapa-1 exploration well, drilled on the Kanuku licence offshore Guyana, has encountered approximately four metres of net oil pay based on preliminary interpretation, and has extended the prolific Cretaceous oil play into the Group’s Guyana acreage. Related Story: Tullow Oil plc […]
Bayphase Ltd. To Evaluate Payara Oil Field Plans
(Stabroek News, 1.Jan.2020 — The Department of Energy (DE) has awarded a consultancy to Bayphase Ltd for the evaluation of plans for the development of ExxonMobil’s Payara oil field. Payara would be the third of ExxonMobil’s developments in the Stabroek Block. The Liza-1 and Liza-2 have already been approved. In […]
Guyana Preps For March 2020 Elections
(Energy Analytics Institute, Ian Silverman, 1.Jan.2020) — South America’s Guyana, in preparation for elections to be held by the end of the first quarter of 2020, has opened calls for local and domestic observer groups. The initiative is “in order to enhance transparency, credibility and impartiality of General and Regional […]
ExxonMobil Reports 15th Guyana Find At Mako-1 Well
(Exxon, 23.Dec.2019) — ExxonMobil said today it made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek […]
Production Begins In Guyana
(Exxon, 23.Dec.2019) — Today marks the start of a powerful new chapter in Guyana. On December 20, 2019, the floating production, storage and offloading (FPSO) vessel Liza Destiny began producing oil from offshore Guyana. This milestone comes less than five years after the initial discovery of the Liza field, and […]
Oil Boom Begins In Guyana
(Bloomberg, 23.Dec.2019) — Exxon Mobil Corp. and its partners produced the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues. Output from the first phase of the offshore Liza field is expected to reach full capacity of 120,000 […]
Guyana’s National Petroleum Day
(Guyana Govt, 21.Dec.2019) — Under the honest leadership of President David Granger, Guyana is finally moving in the right direction. President Granger is transforming Guyana’s economy, improving the living standards fof all Guyanese and working to unify our country. Last evening, President Granger announced that Guyana has began petroleum production, […]
CNOOC Says Liza Field Offshore Starts Production
(CNOOC, 20.Dec.2019) — CNOOC Limited announced 20 Dec. that Liza field offshore Guyana has safely commenced production ahead of schedule. Liza Phase 1 development project is located in the Stabroek block offshore Guyana and has one FPSO and 17 subsea wells. It is expected to reach its peak production of […]
ExxonMobil Starts Oil Production In Guyana
(Exxon, 20.Dec.2019) — ExxonMobil announced that oil production has started from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments. Highlights: — Production for Liza Phase 1 to reach […]
Quality Testing Guyana’s First 3 MMbbls
(Demerara Waves, Denis Chabrol, 16.Dec.2019) — The Ministry of the Presidency’s Department of Energy denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed at what officials say is the removal of impurities and setting of standard for Guyana to get the best price […]
Guyana Seeks Buyers For Govt’s Oil Output Share
(Reuters, 15.Dec.2019) — Guyana has invited companies interested in purchasing the first three deliveries of the government’s share of the country’s looming oil production to present bids this week, the government said in a statement on Sunday. The government will later seek proposals from companies interested in a longer-term contract […]
Traders Flock To Burgeoning Petrostate Guyana
(Bloomberg, Lucia Kassai, 13.Dec.2019) — Oil traders are packing their bags for a trip to the world’s newest petrostate — a place they know remarkably little about. At least half a dozen traders from Houston, Geneva and London are set to alight in tropical Guyana this weekend to bid on […]
NY Reserve Bank To Hold Guyana Oil Revenues
(Stabroek News, 7.Dec.2019) — Guyana’s Natural Resource Fund (NRF), which will hold oil revenues, is to be located in the Federal Reserve Bank of New York rather than the Central Bank of Guyana, Minister of Finance Winston Jordan has revealed. “We are in the process of getting the requirement to […]
ExxonMobil Plans 31-Well Program In Guyana
(Zacks Equity Research, 6.Dec.2019) — Exxon Mobil Corporation is planning to commence a 31-well exploration campaign offshore Guyana, per Argus. The company has submitted requests to the Environmental Protection Agency of Guyana for this drilling program, which will be executed in the Stabroek, Kaieteur and Canje blocks. Drilling from these […]
Frontera Announces 2020 Capital Plan
(Frontera, 5.Dec.2019) — Frontera Energy Corporation announced full year 2020 capital plan and guidance information. All values in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Gabriel de Alba, Chairman of the Board of Directors, said: “Frontera’s 2020 plan demonstrates the Company’s […]
Guyana On Brink Of Unimaginable Oil Wealth
(IB Times, Palash Ghosh, 4.Dec.2019) — Ahead of this week’s meeting of the Organization of the Petroleum Exporting Countries in Vienna, the tiny South American nation of Guyana will likely not be on the agenda. However, within a decade this country of just 778,000 people may be as wealthy as […]
Profile: Tullow In Guyana
(Tullow, 29.Nov.2019) — Guyana has become an industry hotspot following giant oil discoveries in the Starbroek block. Tullow has interests in two neighbouring licences offshore Guyana with a 60% operated interest in the Orinduik block and a 37.5% non-operated interest in the Kanuku block. Tullow’s position in Guyana dates back […]
Oil Brightens Guyana’s Prospects
(CaribNews, Mellany P., 28.Nov.2019) — President David Granger said Wednesday that the emerging petroleum industry provides an “exciting economic and enterprising development” for Guyana and will enhance economic growth by increasing investment, including upstream investment. Addressing the Guyana International Petroleum Exhibition (GIPEX) 2019, Granger insisted that the Caribbean Community (CARICOM) […]
Why ExxonMobil’s Guyana Success May Have Hurt Petrobras
(The Motley Fool, John Bromels, 20.Nov.2019) — Oil is a big business with even bigger money attached. That’s why governments that control oil assets are eager to auction them off to the highest bidder in the hopes of getting a major payout. But Brazil’s recent oil block auction didn’t go […]
Saipem Inks Subsea Contract In Guyana
(Saipem, 14.Nov.2019) — Milan-based Saipem has been awarded a subsea contract by ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) for the proposed Payara development project located in the Stabroek block offshore Guyana at a water depth of around 2000 metres. The contract scope includes Subsea Structures, Risers and […]
ExxonMobil To Take 1st MMbbls Of Oil
(Guyana Times, 7.Nov.2019) — With oil production expected to begin later this month, ExxonMobil will be getting the first shipment of oil, while Guyana will have to wait until sometime next year. This announcement was made by the Department of Energy. Making these announcements was Department of Energy Director, Dr […]
Frontera Announces Quarterly Dividend
(Frontera, 7.Nov.2019) — Frontera Energy Corporation announces that its Board of Directors has declared a dividend of C$0.205 per common share, which will be paid on or about January 17, 2020 to shareholders of record at the close of business on January 3, 2020. The company’s Board of Directors dividend […]
Can Guyana Survive Striking It Rich?
(Bloomberg, Mac Margolis, 5.Nov.2019) — Early last month, Guyanese President David Granger was knees-down in a community garden brandishing a spade. Granger was there to plant a tree — it was National Tree Day — but also an idea. “Don’t let us get drunk. Let us remain sober,” he told the […]
Exxon, Hess Move Up Guyana First Oil Date
(Chron.com, Jordan Blum, 30.Oct.2019) — Exxon Mobil and Hess Corp. said they are moving up the start date for first oil production in Guyana to December instead of the previous timeline slated for early 2020. The Liza Phase 1 project is just the beginning of the concerted, Exxon Mobil-led effort […]
Frontera’s 3Q:19 Results Date
(Frontera, 20.Oct.2019) — Frontera Energy Corporation will release its third quarter 2019 results after market on Thursday, November 7, 2019 followed by a conference call for investors and analysts on Friday, November 8, 2019 at 8:00 a.m. (MDT), 10:00 a.m. (EST/GMT-5). Participants will include Gabriel de Alba, Chairman of the […]
Frontera’s 3Q:19 Update
(Frontera, 10.Oct.2019) — Frontera Energy Corporation announces a third quarter 2019 operational update and notice of financial results and conference call. All values in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Third Quarter Production and Average Oil Prices Frontera delivered estimated […]
Guyana Elections And First Oil
(Argus, 26.Sep.2019) — Guyana will hold parliamentary elections on 2 March 2020, around the time that ExxonMobil plans to launch offshore oil production that promises to transform the economy of the tiny South American country. The ruling People’s National Congress (PNC) party that has overseen the advent of oil development […]
Guyana Must Learn To Use Its Riches
(Upstream, Gareth Chetwynd, 26.Sep.2019) — As development on Guyana’s Stabroek block continues apace, it is worth considering that the Liza development took form in an era when low oil prices demanded that offshore projects attain new levels of efficiency. ExxonMobil adopted a strategy of achieving the most aggressive ramp-up ever […]
Guyana Key Elections To Come Ahead Of First Oil
(Argus, 26.Sep.2019) ) — Guyana will hold parliamentary elections on 2 March 2020, around the time that ExxonMobil plans to launch offshore oil production that promises to transform the economy of the tiny South American country. The ruling People’s National Congress (PNC) party that has overseen the advent of oil […]
Diplomats Say Guyana Gov’t In Breach Of Constitution
(Reuters, 19.Sep.2019) — U.S. and European diplomats on Thursday declared Guyana’s government in breach of the country’s constitution until new elections are held and called on Guyanese President David Granger to “set an elections date immediately” or possibly face a cutoff of development funding. Guyana’s independent electoral body on Thursday […]
Eco Atlantic Reports 2nd Oil Discovery Offshore Guyana
(Eco, 16.Sep.2019) — Eco (Atlantic) Oil & Gas Ltd. announces a second oil discovery on the Orinduik Block, offshore Guyana. The Joe-1 exploration well was drilled by the Stena Forth drillship to a final depth of 7,176 feet (2,175 meters) in approximately 2,546 feet (780 meters) of water. Evaluation of […]
ExxonMobil Reports Tripeltail Find Offshore Guyana
(Exxon, 16.Sep.2019) — ExxonMobil made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. The discovery adds to the previously announced estimated recoverable resource of more than 6 billion oil-equivalent barrels on the Stabroek Block. Tripletail-1 encountered approximately 108 feet (33 meters) […]
Tullow Announces Joe-1 Oil Find Offshore Guyana
(Tullow, 16.Sep.2019) — Tullow Oil plc announces the Joe-1 exploration well has successfully opened a new Upper Tertiary oil play in the Guyana basin. The Joe-1 exploration well was drilled by the Stena Forth drillship to a Total Depth of 2,175 metres in water depth of 780 metres. Evaluation of […]
Building Guyana’s Destiny
(Exxon, 9.Sep.2019) — Finding the next big discovery is only a small part of the story when it comes to energy. Delivering that new energy source to those who need it around the world takes the same amount of engineering innovation as discovering it in the first place. That is […]
Liza Destiny Arrives In Guyana
(Argus, 2.Sep.2019) — Guyana received its first floating, production, storage and offloading unit (FPSO) Liza Destiny in anticipation of ExxonMobil’s production launch in March 2020. The vessel is stationed at the deepwater Stabroek block where the US major will start the first phase of development from its Liza field at […]
Liza Destiny FPSO Moves To Offshore Guyana
(Zacks, 30.Aug.2019 ) — Hess Corporation recently announced the arrival of Liza Destiny — an oil production vessel — at the Stabroek Block, offshore Guyana. Notably, this is Guyana’s first floating, production, storage and offloading vessel. The 1,115-foot vessel arrived at the site after a 42-day journey from Singapore. Starting […]
LatAmNRG briefs: Liza Destiny, Dos Bocas, PDVSA
HOUSTON, TEXAS (By Energy Analytics Institute, Aaron Simonsky, 29.Aug.2019, Words: 327) — LatAmNRG briefs related to the Liza Destiny FPSO reaching Guyana, PDVSA investigating recent LPG plant explosion in Los Valles del Tuy, Dos Bocas Refinery conditioning work advancing in Mexico, and Ball Corporation signs a deal to divest its […]
Hess Says Liza Destiny FPSO Arrives Offshore Guyana
(Hess, 29.Aug.2019) — Hess Corporation announced that the Liza Destiny, Guyana’s first oil production vessel, has arrived at the Stabroek Block. The Floating, Production, Storage and Offloading (FPSO) vessel arrived following a 42 day journey from Singapore. This FPSO is a significant component of the Liza Phase 1 development, which […]