(Energy Analytics Institute, 16.Feb.2022) — Energy briefs including the International Energy Conference and Expo Guyana saying it will allow the first 80 University of Guyana students to enter its conference for free on 16 Feb. 2022; Guyana’s Vice President Bharrat Jagdeo talking about the potential launch of the country’s national […]
Category: Guyana
Guyana energy
NRGBriefs: Frontera Sets Guyana Exploration CAPEX at $110-$130mn
(Energy Analytics Institute, 16.Feb.2022) — Energy briefs including Frontera Energy anticipating Guyana exploration CAPEX of $110-$130mn in 2022 and CGX Energy anticipating further investments of $5-$10mn for the Berbice Deepwater Port Project; Kootenay Silver saying JV operator Aztec Minerals Corp. reported a broad, high grade, gold intercept in the first RC drill hole […]
Frontera Announces CAPEX and Production Guidance for 2022
(Frontera, 16.Feb.2022) — Frontera Energy Corporation (TSX: FEC) announced its full year 2022 capital and production guidance, provided an update on its normal course issuer bid (“NCIB”) and provided notice of its year end 2021 financial results and conference call. All values in this news release and the Company’s financial […]
ExxonMobil CEO: Continued Progress Means Achieving Local Content Goals
(Guyana’s DPI, 15.Feb.2022) — Achieving the goals of local content will see continued progress for Guyanese and local companies, Chief Executive Officer (CEO) of oil giant ExxonMobil, Darren Woods has stated. He said Esso Exploration and Production Guyana Limited-the local ExxonMobil affiliate, has made progress in advancing local opportunities for […]
President Ali Tells Investors: Guyana Welcomes Investors but Guyanese Must Benefit
(Guyana’s DPI, 15.Feb.2022) — An olive branch has been extended to companies looking to invest in the oil and gas producing nation of Guyana. However, while they are welcomed to invest, companies are being reminded that Guyanese must be able to benefit from those investments. President Dr. Mohamed Irfaan Ali […]
GX Energy and Frontera JV to Focus on Corentyne Block in 2022
(CGX Energy, 14.Feb.2022) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX and joint venture partner of CGX, announced that, as a result of the initial positive results at the Kawa-1 exploration well, the joint venture will focus on the significant exploration […]
FPSO Liza Unity Producing and on Hire
(SBM Offshore, 14.Feb.2022) — SBM Offshore announced that FPSO Liza Unity has produced first oil as of February 11, 2022 and is formally on hire. The FPSO Liza Unity is the first unit with a design based on SBM Offshore’s industry leading Fast4Ward® program which incorporates the company’s new build, multi-purpose floater hull combined with […]
Baker Hughes Expands Presence in Guyana with Opening of Major Facility
(Baker Hughes, 14.Feb.2022) — Baker Hughes has expanded its presence in Guyana through the opening of a new local supercenter facility for oilfield services and equipment. The supercenter, which spans more than 8 acres, will support regional customers and bolster Baker Hughes’ localization efforts within South America. Baker Hughes has […]
ExxonMobil’s Second Development Starts Operations Offshore Guyana
(ExxonMobil, 11.Feb.2022) — ExxonMobil started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2, bringing total production capacity to more than 340,000 barrels per day in only seven years since the country’s first discovery. Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel […]
NRGBriefs: Trinidad Energy Minister Meets with Executives about Project Lara
(Energy Analytics Institute, 11.Feb.2022) — Energy briefs including Stuart Young, Trinidad and Tobago’s head at the Ministry of Energy and Energy Industries meeting with corporate executives at BP, Shell and Lightsource BP about the Project Lara; and Texas-based Exxon’s commenting on carbon capture and storage (CCS); and more. LATIN AMERICA […]
Hess Starts Production from Liza Phase 2 Development, Offshore Guyana
(Hess, 11.Feb.2022) — Hess Corporation (NYSE: HES) announced startup of production from the Liza Phase 2 development on the Stabroek Block offshore Guyana, utilizing the Liza Unity floating production, storage and offloading (FPSO) vessel. The Liza Unity is expected to reach its production capacity of 220,000 gross barrels of oil per day […]
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SBM Offshore Provides Project Update [PDF Download]
(SBM Offshore, 10.Feb.2022) — SBM Offshore provided a status update on individual projects from Guyana to Brazil. Guyana FPSO Liza Destiny The third stage flash gas compressor on the unit remains stable and continues to operate. Additional engineering activities are ongoing to finalize a redesigned flash gas compressor with an […]
Brazil Imports First Cargo of Guyanese Crude -Source
(Reuters, 3.Feb.2022) — An independent refiner has imported the first cargo of Guyanese crude oil into Brazil, according to tanker tracking data and a person familiar with the deal. Since oil exports began about two years ago, the tiny South American nation of fewer than 800,000 residents is becoming an […]
Guyana Produced 42.7 MMbbls in 2021 – Minister Singh
(DPI, 1.Feb.2022) — For the year 2021, Guyana produced 42.7 million barrels of light, sweet crude from the Liza One development in the prolific Stabroek Block. This was announced by Senior Minister in the Office of the President with responsibility for finance, Dr. Ashni Singh when he presented Budget 2022 […]
NRGBriefs: BCV Reports Income from FX Sales from PDVSA
(Energy Analytics Institute, 1.Feb.2022) — Energy briefs including Venezuela’s income from foreign currency sales to the Central Bank of Venezuela (BCV) obtained from PDVSA reaching $3.292bn in 2021; and ExxonMobil continuing to progress its low cost of supply deepwater developments in Guyana. LATIN AMERICA AND THE CARIBBEAN Guyana — ExxonMobil […]
Frontera and CGX Find Oil at Kawa-1 Well Offshore Guyana
(Frontera, 31.Jan.2022) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of CGX and joint venture partner of CGX in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announced that the Joint Venture has made a discovery at the Kawa-1 well, in the Corentyne Block. Gabriel de Alba, Chairman of Frontera’s Board of Directors and Co-Chairman […]
NRGBriefs: De Novo Prepares Zandolie’s Subsea Structure
(Energy Analytics Institute, 31.Jan.2022) — Energy briefs including EP PetroEcuador and Abastecedora Ecuatoriana de Combustibles S.A. (ABASTIBLES S.A.) signing a petroleum products contract; shares of Frontera Energy and CGX Energy halting on rumors of a find offshore Guyana at the Kawa well; and DeNovo’s Zandolie subsea structure being readied for […]
![Guyana Budget 2022 Speech Highlights [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/01/GUY_budget-2022-speech-header.jpg)
Guyana Budget 2022 Speech Highlights [PDF Download]
(Energy Analytics Institute, 26.Jan.2022) — Highlights from the budget speech by Guyana’s Honourable Dr. Ashni K. Singh, M.P. Senior Minister in the Office of the President with Responsibility for Finance on 26 January 2022 follow. Select highlights: — A total of 42.7 MMbbls were produced in 2021 compared with 27.2 […]
![Hess Reports 4Q:21 Results, Updates on Guyana [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/01/hess-hq-1-houston-energy-analytics-institute-scaled.jpeg)
Hess Reports 4Q:21 Results, Updates on Guyana [PDF Download]
(Hess, 26.Jan.2022) — Hess Corporation (NYSE: HES) reported net income of $265mn, or $0.85 per share, in the fourth quarter of 2021, compared with a net loss of $97mn, or $0.32 per share, in the fourth quarter of 2020. On an adjusted basis, the corporation reported a net loss in […]
Hess Announces 2022 E&P Capital and Exploratory Budget
(Hess, 25.Jan.2022) — Hess Corporation (NYSE: HES) announced a 2022 Exploration & Production capital and exploratory budget of $2.6bn, of which approximately 80% will be allocated to Guyana and the Bakken. Net production is forecast to average between 330,000 and 340,000 barrels of oil equivalent per day in 2022, excluding Libya. Bakken net production is […]
Caribbean Sustainable Energy Conference: Day 1 Highlights
(Energy Analytics Institute, 24.Jan.2022) — Selected highlights from the virtual Caribbean Sustainable Energy Conference hosted by the Energy Chamber of Trinidad and Tobago from 24-26 January 2022 including presentations from Trinidad’s Energy and Energy Industries Minister Stuart Young, The National Gas Company of Trinidad and Tobago Limited President Mark Loquan, […]
Net-Zero Emissions by 2050 a Priority for the Region, Guyana’s President Says
(DPI, 24.Jan.2022) — His Excellency Dr Irfaan Ali today said that reaching Net-Zero emissions by 2050 is essential for the development of the region, but it would only be possible if the global system rectifies its inherent disparities and unevenness. In his keynote address to over 300 participants at the […]
Gold Port Says Drill Rig Fabrication Completed
(Gold Port Corp., 20.Jan.2022) — Gold Port Corporation, (CSE: GPO) (OTCQB: GPOTF) announced that fabrication of a Discovery I Core Rig, by Multi-Power Products Ltd of Kelowna, B.C., has now been completed. The state-of-the-art track mounted rig system along with support equipment and supplies is now being scheduled for delivery to Port […]
NRGBriefs: PDVSA Debt Stood at $35bn at YE:21
(Energy Analytics Institute, 19.Jan.2022) — Energy briefs including Brazil’s President Jair Bolsonaro visiting w/ his counterparts in Suriname and Guyana to discuss oil and gas matters; and Venezuela’s state oil giant PDVSA revealing its total debt stood at $34.894bn at YE:21. LATIN AMERICA AND THE CARIBBEAN Brazil — Brazil’s President […]
Eco Atlantic Boosts Stake in Exxon Partner Offshore Guyana
(Proactive Investors, 19.Jan.2022) — Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) increased its interest in JHI Associates Inc, a junior explorer offshore Guyana, which is partnered with Exxon in the Canje Block. AIM-quoted Eco bought 800,000 shares, worth around £312,000, in JHI by exchanging 1.2mln new Eco shares. It takes Eco’s […]
Bolsonaro to Visit Suriname and Guyana for Talks on Oil Cooperation
(Reuters, 17.Jan.2022) — Brazilian President Jair Bolsonaro will visit Suriname and Guyana on Thursday and Friday for talks on economic cooperation following recent discoveries of oil and gas by Brazil’s two neighbors, the foreign ministry said on Monday. Bolsonaro and the presidents of Suriname, Chandrikapersad Santokhi, and Guyana, Irfaan Ali, […]
Maersk Awarded One-well Extension in Suriname for Maersk Valiant
(Maersk, 14.Jan.2022) — TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension has an estimated duration of 100 days, with work expected to commence in […]
CARICOM Secretariat Takes Over Georgetown Solar Plant
(Energy Analytics Institute, 11.Jan.2022) — The CARICOM Secretariat located in Georgetown, Guyana signed a handover agreement to take charge of a solar photovoltaic power generation plant. The secretariat is set to obtain energy from the 400kw project, built with 1,500 solar panels and servers and batteries, the secretariat said 11 […]
Saipem Inks Two New Offshore Deals in Australia and Guyana
(Saipem 11.Jan.2022) — Saipem has been awarded two new offshore contracts in Australia and Guyana, for a total amount of 1.1 billion USD. Francesco Caio, CEO and General Manager of Saipem, commented: “The award of these contracts represents a significant confirmation of the trust of our clients in Saipem’s ability to […]
Saipem wins $1.1bn contracts in Australia and Guyana
(Reuters, 11.Jan.2022) — Italian energy services group Saipem said on Tuesday it had won two offshore contracts in Australia and Guyana for a total amount of $1.1 billion. One of the contracts relates to the Scarborough gas field in the Carnarvon Basin, offshore Western Australia, for the export trunkline coating […]
World Bank: Global Growth to Slow Through 2023
(World Bank, 11.Jan.2022) — Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic […]
NRGBriefs: Chile Eyes Reducing CO2 Emissions by 35% by 2030
(Energy Analytics Institute, 10.Jan.2022) — Energy briefs including Chile enacting the country’s first Energy Efficiency Law in its history; bp naming Andrés Guevara De la Vega as its new president over bp in Spain; and more. EUROPE Spain — Andrés Guevara De la Vega has been name as the new […]
Guyana Gov’t Searches for Firm to Review Fourth Oil Development
(DPI, 7.Jan.2022) — The Government of Guyana (GoG), through the Ministry of Natural Resources (MNR) is requesting proposals from consultants and firms to review and evaluate the Field Development Plan (FDP) of Yellowtail – Guyana’s fourth oil development. In the Requests for Proposals (RFP) issued on Thursday, the Natural Resources […]
ExxonMobil SVP Cousins Comments on Recent Finds Offshore Guyana
(Energy Analytics Institute, 6.Jan.2022) — ExxonMobil Senior Vice President Michael G. Cousins commented on the company’s two most successful wells offshore Guyana in the Stabroek Block. “With the latest discovery news out of Guyana, ExxonMobil has announced that two recently drilled wells in the Stabroek Block hit pay zones bearing a […]
Hess Reports Two Finds Offshore Guyana
(Hess, 5.Jan.2022) — Hess Corporation (NYSE: HES) announced two significant discoveries at the Fangtooth-1 and Lau Lau-1 wells on the Stabroek Block offshore Guyana. These discoveries will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 10 billion barrels of oil equivalent. The Fangtooth-1 well encountered approximately 164 feet […]
ExxonMobil Finds More Oil at Two Wells in Guyana’s Stabroek Block
(Exxon, 5.Jan.2022) — ExxonMobil made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles […]
Game Changing Local Content Bill Passed in Guyana
(DPI, 30.Dec.2021) — “We want to ensure that with this Bill, Guyanese reap the benefits from the oil and gas sector. This bill will help us to truly assess our capacity, as well as what is needed to build capacity in Guyana. As a government, we are committed to working […]
ExxonMobil Reports ‘Safe’ Year for Guyana Operations
(CMC, 29.Dec.2022) — ExxonMobil Guyana says 2021 has been a safe year for the oil company, noting that there had been many days across offshore operations without major incident. “The crew on board the Liza Destiny FPSO, for instance, has reached more than 800 days without a recordable incident,” said […]
Guyana Gov’t Working on Ensuring Prosperity
(DPI, 23.Dec.2021) — December 20, 2019, marked a new, historic era for Guyana and its people. It was the day when ExxonMobil began producing light sweet crude offshore Guyana in the world-renowned Stabroek Block. Since then, not only has Guyana benefitted from billions of dollars in revenue and investment from […]
Guyana Proposes Establishment of Local Content Register in Historic Bill
(DPI, 18.Dec.2021) — As part of the Local Content Bill, the government is proposing the establishment of a Local Content Register said to be developed and maintained by the Local Content Secretariat. The Bill which was tabled in the National Assembly on Thursday by Minister of Natural Resources, Vickram Bharrat, […]
Guyana Shies Away from Overly Rigid Local Content Terms in Oil Bill
(Reuters, 16.Dec.2021) — Guyana’s government on Thursday delivered to the National Assembly the draft of a local content bill that will regulate its nascent oil industry, proposing requirements beginning at 5% by the end of 2022 for activities to be carried out by contractors and licensees. The proposed policy, seen […]
LatAm Oil Auctions Kick Off After Two-year Lull
(Reuters, 16.Dec.2021) – Latin America’s oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday […]
CGX And Frontera Update On Kawa-1 Exploration Well
(CGX, 16.Dec.2021) — CGX Energy Inc. (TSXV: OYL) and Frontera Energy Corporation (TSX: FEC), the majority shareholder of and joint venture partner of CGX in the Petroleum Prospecting Licenses for the Corentyne and Demerara blocks offshore Guyana, today provide an operational update on the Kawa-1 exploration well in the Corentyne […]
NRGBriefs: Venezuela’s Oil Minister El Aissami Says He’s Fine
(Energy Analytics Institute, 14.Dec.2021) — Energy briefs including EP PetroEcuador announcing it has sufficient fuel supplies at all its terminals despite transport issues impacting Ecuador’s two oil pipelines and one derivatives pipeline; ExxonMobil reiterating the Liza Unity FPSO will commence ops by 2022 offshore Guyana; Venezuela’s oil minister Tareck El […]
NRGBriefs: Ecuador Declares Force Majeure On Oil Exports
(Energy Analytics Institute, 13.Dec.2021) — Energy briefs including Ecuador’s gov’t declaring force majeure on 12 Dec. 2021 on oil exports due to erosion issues around the Piedra Fina River and other tributaries of the Quijos River; Argentina celebrating Petroleum Day; TechnipFMC being awarded three frame agreements by Petrobras; and more. […]
NRGBriefs: Orea Prepping for Maripa Gold Project
(Energy Analytics Institute, 8.Dec.2021) — Energy briefs including Fitch Ratings affirming Frontera‘s IDR at ‘B’; Orea Mining Corp. commencing preparation for a diamond drilling program at the Maripa Gold Project, located in eastern French Guiana; — Frontera spud the Jandaya-1 exploration well on the Perico block in Ecuador; and more. LATIN […]
ExxonMobil Reveals Plans To 2027
(Exxon, 1.Dec.2021) — ExxonMobil has finalized corporate plans, which increase spending to $15bn on greenhouse gas emission-reduction projects over the next six years while maintaining disciplined capital investments in its industry-leading portfolio. The plans support the corporate strategy of continued structural cost savings, investment in low-cost-of-supply and lower-emission products, and […]
Guyana’s VP Jagdeo Says Oil Audits Will Be Completed
(DPI, 17.Nov.2021) — Vice President, Dr. Bharrat Jagdeo said the government will complete the audits of costs claimed by ExxonMobil for its operations, and assured that Guyana’s interests will be protected. His comment was made in response to concerns that the accounting provisions in ExxonMobil’s Stabroek block contract stipulate a […]
SBM Awarded Contracts For 4th FPSO In Guyana
(SBM, 17.Nov.2021) — SBM Offshore has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited […]
TechnipFMC Inks Subsea Deal For Yellowtail Project
(TechnipFMC, 15.Nov.2021) — TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a large(1) contract by Exxon Mobil Corporation (NYSE: XOM) affiliate, Esso Exploration and Production Guyana Limited, to supply the subsea production system for the Yellowtail development. Subject to government approvals and final project sanction, TechnipFMC will provide project management, […]