SPRING, TEXAS (ExxonMobil, 12.Apr.2024) — ExxonMobil has made a final investment decision for the Whiptail development offshore Guyana, after receiving the required government and regulatory approvals. Whiptail, the sixth project on the Stabroek block, is expected to add 250,000 barrels of daily capacity by the end of 2027. “Our sixth […]
Tag: CNOOC Nexen Petroleum Guyana Limited
FPSO Prosperity Producing and On Hire
(SBM Offshore, 14.Nov.2023) — SBM Offshore announce that FPSO Prosperity has produced first oil as of 14 Nov. 2023 and is formally on hire. The FPSO Prosperity utilizes a design that largely replicates the design of the FPSO Liza Unity. As such, the design is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the […]
ExxonMobil Starts Third Offshore Guyana Project Payara
(Exxon Mobil, 14.Nov.2023) — ExxonMobil started production today at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day. Highlights: Company’s third FPSO, Prosperity, starts up ahead of schedule and will add 220,000 barrels of oil per day […]
EAI’s NRGBriefs: Sep. 2023
(Energy Analytics Institute, 30.Sep.2023) — Energy briefs as well as others related to finance and projects during Sep. 2023 including Petrobras saying that in regards the process of divestment of the LUBNOR refinery that it continues to strictly comply w/ the purchase and sale agreement; SilverCrest Metals Inc. filing an […]
Exxon, Hess Exit Kaieteur Offshore Oil Exploration Block in Guyana
(Reuters, 28.Sep.2023) — U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil […]
Guyana Postpones Offshore Auction to mid-August
(Reuters, 16.Jun.2023) — Guyana will postpone by about one month its first offshore oil blocks auction as the country finalizes new terms of the country’s oil and gas regulatory framework, Vice President Bharrat Jagdeo told Reuters on Friday. The South American nation has three times before delayed the offer of 14 offshore […]
MODEC’s Uaru FPSO Proceeds to EPCI Phase
(MODEC, 8.May.2023) — MODEC, Inc. will proceed with engineering, procurement, and construction on the Uaru Floating Production, Storage, and Offloading (FPSO) vessel following a final investment decision on the Uaru project by ExxonMobil Guyana and its co-venturers on 27 April 2023. Uaru is a significant addition to MODEC’s portfolio and it covers […]
SBM Offshore Inks Deal for its Guyana FPSO Fleet
(SBM, 2.May.2023) — SBM Offshore has signed a 10-year Operations and Maintenance Enabling Agreement with Esso Exploration & Production Guyana Ltd (aka “ExxonMobil Guyana”) for the Operations and Maintenance of FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA. This framework agreement establishes the new terms related to the operations of the Guyana FPSO fleet […]
ExxonMobil Advances Fifth Offshore Guyana Development
(ExxonMobil, 27.Apr.2023) — ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 barrels of daily capacity after a targeted startup in 2026. Highlights: Uaru […]
![Guyana Budget 2023 [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2023/01/guyana-budget-speech-2023.png)
Guyana Budget 2023 [PDF Download]
(Guyana Ministry of Finance, 16.Jan.2023) — The Budget 2023 is the fourth budget of this People’s Progressive Party/Civic (PPP/C) government formed in August 2020. ____________________
![Hess’ Guyana Developments and Low Breakeven Prices [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2023/01/guyana-4-developments-source-hess.png)
Hess’ Guyana Developments and Low Breakeven Prices [PDF Download]
(Energy Analytics Institute, 5.Jan.2023) — Hess Corporation’s activities offshore Guyana in the Stabroek Block over the company exceptional reservoir quality and low development costs. The company’s first four developments offshore offer Brent breakeven prices less than $40/bbl. Highlights – ~$35/bbl Brent breakeven for Liza Phase 1 – ~$25/bbl Brent breakeven […]
MODEC Awarded FEED Contract for ExxonMobil’s “Uaru” Project in Guyana
(MODEC, 1.Nov.2022) — MODEC, Inc. signed a contract to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the “Uaru” development project. The FEED contract award relates to the initial funding by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to […]
ExxonMobil Reveals Two New Guyana Finds
(ExxonMobil, 26.Oct.2022) — ExxonMobil announced two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, adding to its extensive portfolio of development opportunities. ExxonMobil has made more than 30 discoveries on the block since 2015, and it has ramped up offshore development and production at a […]
Hess Announces Two More Discoveries Offshore Guyana
(Hess, 26.Oct.2022) — Hess Corporation (NYSE: HES) today announced two new discoveries at the Yarrow-1 and Sailfin-1 wells on the Stabroek Block offshore Guyana. The discoveries, which are the eighth and ninth this year, will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 11 billion barrels of […]
Exxon Boosts Guyana Oil Output, Undecided on Future Auction Bid
(Reuters, 20.Sep.2022) — Exxon Mobil Corp. is uncertain whether it will bid for new offshore areas Guyana wants to explore, a person close to the matter said, as the oil major ramps up production faster than expected and the South American country wrestles with fixing terms of new oil leases. An Exxon-led consortium discovered oil in the deep waters off Guyana’s coast, launched […]
NRGBriefs: Petrobras on CVM; Morgan Stanley on Ecopetrol; GtE Guyana
HOUSTON, TEXAS (By Energy Analytics Institute, 4.Aug.2022, Words: 346) — Energy briefs including Petrobras receiving an official letter from the Securities and Exchange Commission of Brazil (CVM) answering questions sent by the company’s management concerning the nomination of candidates by the controlling shareholder to the board; and “Ecopetrol shares enjoyed […]
ExxonMobil Makes Two More Discoveries Offshore Guyana
(ExxonMobil, 26.Jul.2022) — ExxonMobil has made two new discoveries offshore Guyana to the southeast of the Liza and Payara developments in the Stabroek block. The discoveries at Seabob and Kiru-Kiru are the sixth and seventh in Guyana this year, with the total number of discoveries in Guyana at more than […]
Unlikely Exxon Guyana to Sustain Production Target for 2027
(Energy Analytics Institute, Special Contributor Millan Arcia Einstein, 5.May.2022) — New hydrocarbon discoveries offshore Guyana, were announced last week totaling 31 so far. Exxon-Guyana claims resources around 11,000 million barrels (MMbbls), although as previously said, net crude oil recoverable reserves will ultimately be not far from the 4,400 to 3,100 […]
CNOOC Reveals 1Q:22 Results after A Share Listing, Declares Special Dividend
(CNOOC, 28.Apr.2022) — CNOOC Limited (SEHK: 00883, SSE: 600938) announced its results for the first quarter of 2022. For the first quarter of 2022, the company seized the opportunity of oil price recovery to continue to increase its reserves and production, and actively promoted the green energy transition. Measures to reduce costs […]
![Hess Corp. Reports Estimated 1Q:22 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2021/10/Hess-.png)
Hess Corp. Reports Estimated 1Q:22 Results [PDF Downloads]
(Hess, 27.Apr.2022) — Hess Corporation (NYSE: HES) reported net income of $417mn, or $1.34 per share, in the first quarter of 2022, compared with net income of $252mn, or $0.82 per share, in the first quarter of 2021. On an adjusted basis, the corporation reported net income of $404mn, or […]
Guyanese Crude Cargo Bought by Exxon Sets Sail for Europe -Data
(Reuters, 26.Apr.2022) — A tanker carrying Guyana’s first share of oil from a recently inaugurated floating production facility has set sail for Rotterdam, tanker monitoring data showed on Tuesday. South America’s newest crude producer, which has secured billions of dollars in investment from an Exxon Mobil, Hess Corp and China […]
NRGBriefs: Exxon Announces Three New Finds Offshore Guyana
(Energy Analytics Institute, 26.Apr.2022) — Energy briefs including Exxon announcing three new discoveries offshore Guyana, adding to two discoveries earlier in 2022; details regarding resolutions adopted by the shareholders at the annual general ordinary and extraordinary shareholders’ meeting of Vista Oil & Gas, S.A.B. de C.V. in Mexico; and Transportadora […]
Hess’ Exploration Focus: A World Class Petroleum Province Offshore Guyana
(Hess, 26.Apr.2022) — The Stabroek Block, located approximately 120 miles offshore Guyana, is 6.6 million acres. The block is equivalent in size to 1,150 Gulf of Mexico blocks and contains multiple prospects and play types representing additional multibillion barrel unrisked exploration potential. Hess has a 30 percent interest; ExxonMobil is […]
ExxonMobil increases Stabroek resource estimate to nearly 11 billion barrels
(Exxon, 26.Apr.2022) — ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in […]
Hess Reveals Three New Finds Offshore Guyana, Boosts Resource Estimate
(Hess, 26.Apr.2022) — Hess Corporation (NYSE: HES) announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 11 billion barrels of oil equivalent, up from the previous estimate of more than 10 billion barrels of oil equivalent. The updated resource estimate includes three new discoveries […]
SBM Offshore Awarded Contracts for ExxonMobil FPSO ONE GUYANA
(SBM, 5.Apr.2022) — SBM Offshore announced that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the Yellowtail development project located in the Stabroek Block in Guyana. Under these contracts, SBM Offshore will construct, install and then lease and […]
NRGBriefs: Exxon, Hess, and CNOOC FID Yellowtail development
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 4.Apr.2022) — Energy briefs including ExxonMobil, Hess and CNOOC taking a final investment decision (FID) for their fourth development offshore Guyana called Yellowtail, cos.’ biggest yet w/ gross production capacity of 250,000 b/d starting in 2025; and the King Abdullah Petroleum Studies and […]
Hess sanctions Yellowtail development offshore Guyana
HOUSTON, TEXAS (Hess, 4.Apr.2022) — Hess Corporation has made a final investment decision to proceed with development of Yellowtail offshore Guyana after receiving government and regulatory approvals. Yellowtail, the fourth oil development and the largest on the Stabroek Block, is expected to produce approximately 250,000 gross barrels of oil per […]
ExxonMobil Makes FID on Fourth Guyana Offshore Project Yellowtail
(ExxonMobil, 4.Apr.2022) — ExxonMobil has made a final investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals. The company’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 barrels of oil per day starting in 2025. “Yellowtail’s development further demonstrates […]
Exxon Mobil gets Guyana’s Approval for Fourth Offshore Oil Project
(Reuters, 1.Apr.2022) — Exxon Mobil Corp (XOM.N) on Friday received approval to begin work on its fourth offshore oil project in Guyana from the South American country’s Environmental Protection Agency. The permit will allow Exxon to begin construction and operation of its Yellowtail project, the latest of up to 10 expected to […]
Exxon Raises Guyana’s Long Term Oil Production Outlook
(Reuters, 2.Mar.2022) — Exxon Mobil Corp (XOM.N) on Wednesday said it plans to have capacity to produce with partners 1.2 million barrels per day of oil and gas (boed) offshore of Guyana by 2027. That adds 200,000 boed of production capacity compared to a previous estimate by the consortia led by Exxon. […]
Guyana Talking to Middle East Firms about Offshore Oil Auction -VP
(Reuters, 17.Feb.2022) — Guyana is in talks with state-run oil firms from the Middle East to discover new offshore fields, Vice President Bharrat Jagdeo told Reuters, hoping to recruit a new and substantial explorer to its nascent energy industry. Results of the talks with Middle East firms could lead Guyana to bar a consortium […]
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 […]
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 […]
![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 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 […]
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 […]
NRGBriefs: Liza Unity FPSO Reaches Guyana
(Energy Analytics Institute, 27.Oct.2021) — Energy briefs including the Liza Unity FPSO reaching Guyana’s prolific Stabroek Block; liquefied petroleum gas (LPG) reaching approximately 12mn users across Colombia; and more. LATIN AMERICA AND THE CARIBBEAN Brazil –Brazil’s ANP published the complete version of the Brazilian Statistical Yearbook of Petroleum, Natural Gas […]
Guyana – One Of The World’s Last Oil And Gas Frontiers
(The Geological Society of Trinidad, 21.Oct.2021) — ExxonMobil recently announced that their recoverable oil and gas resources in Guyana had reached an unbelievable ten billion barrels of oil equivalent. The first discovery was in 2015 and six years later Exxon and Guyana have achieved the unimaginable. Guyana accounts for 20 […]
ExxonMobil Boosts Stabroek Resource Estimate
(ExxonMobil, 7.Oct.2021) — ExxonMobil increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels. The updated resource estimate includes a new discovery at the Cataback-1 well, which brings the total significant discoveries to more than 20 within the Stabroek Block. […]
Hess Boosts Resource Estimate for Stabroek Block
(Hess, 7.Oct.2021) — Hess Corporation (NYSE: HES) announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 10 billion barrels of oil equivalent, up from the previous estimate of more than 9 billion barrels of oil equivalent. The updated resource estimate includes another […]
ExxonMobil Reports Discovery At Pinktail
(ExxonMobil, 9.Sep.2021) — ExxonMobil made a discovery at Pinktail in the Stabroek Block offshore Guyana. The Pinktail well encountered 220 feet (67 meters) of net pay in high quality hydrocarbon bearing sandstone reservoirs. In addition to successful appraisal of the Turbot discovery, the Turbot-2 well encountered 43 feet (13 meters) […]
Hess Reveals Oil Find At Pinktail, Offshore Guyana
(Hess, 9.Sep.2021) — Hess Corporation (NYSE: HES) announced another oil discovery on the Stabroek Block offshore Guyana at Pinktail. The Pinktail well encountered 220 feet (67 meters) of net pay in high quality oil bearing sandstone reservoir. Pinktail is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase […]
Guyana Creating New Authority For Oil Sector
(Argus, 12.Aug.2021) — Guyana plans to create a new authority by the end of 2021 to regulate its growing hydrocarbon revenues and allow orderly and transparent management and development of the sector, President Irfaan Ali said. The petroleum commission will also insulate the sector “from undue political interference” and remove […]
ExxonMobil Reveals Oil Find at Whiptail
(ExxonMobil, 28.Jul.2021) — ExxonMobil said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) […]
Hess Reveals Oil Find At Whiptail-1
(Hess, 28.Jul.2021) — Hess Corporation (NYSE: HES) announced a significant oil discovery on the Stabroek Block offshore Guyana at Whiptail. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which is located 3 […]
ExxonMobil Reports Another Discovery At Longtail-3 Offshore Guyana
(Exxon, 9.Jun.2021) — ExxonMobil made a discovery at Longtail-3 in the Stabroek Block offshore Guyana. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately two miles (3.5 kilometers) south […]
Guyanese Citizens Challenge ExxonMobil Offshore Drilling On Climate Grounds
(The Guardian, 31.May.2021) — Guyana’s government is being taken to court by two citizens seeking an end to offshore drilling by ExxonMobil and other large oil firms that will exacerbate the climate crisis. The case has been filed by Quadad de Freitas, a 21-year old Indigenous tourist guide from the […]
Hess eyes higher, new nameplate capacity at Liza Destiny FPSO
(Aaron Simonsky, Energy Analytics Institute, 26.May.2021, Words: 411) — The Liza Destiny floating production storage and offloading (FPSO) unit offshore Guyana in the Stabroek Block is expected to shutdown briefly in Nov. 2021 to install a new design flash gas compressor. Plans are to debottleneck or optimize the unit so […]