Esso Exploration and Production Guyana Archives - Energy Analytics Institute (EAI)

ExxonMobil Guyana Takes $12.7bn FID with Sixth Project Whiptail

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 […]

DeepOcean Secures Major Contract with ExxonMobil Guyana

DeepOcean, 14.Feb.2024) — Ocean services provider DeepOcean has been awarded a contract by ExxonMobil Guyana for the provision of subsea construction and IMR (inspection, maintenance, and repair) services offshore Guyana, South America. “This is our first major contract with ExxonMobil in the Americas and our market entry into the exciting […]

ExxonMobil to explore in area disputed by Guyana and Venezuela

GEORGETOWN, GUYANA (AP, 7.Feb.2024, Words: 370) — ExxonMobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military had previously expelled two U.S. oil companies. The move could escalate tensions between Venezuela and neighboring Guyana, which awarded the exploration […]

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 […]

FPSO Liza Unity Purchase by ExxonMobil Completed

(SBM, 9.Nov.2023) — SBM Offshore and ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, have completed the transaction related to the purchase of FPSO Liza Unity, a few months ahead of the end of the maximum lease term, in Feb. 2024. The purchase allows ExxonMobil Guyana to assume ownership of the unit […]

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 […]

Exxon: Over $400mn Spent Locally in Guyana in 2022

(Exxon, 16.May.2023) — ExxonMobil Guyana and its reporting contractors have spent more than GUY$83bn (US$400mn) with more than 1,500 Guyanese businesses in 2022 alone. That is part of the more than GUY$180bn (US$900mn) spent with locals since the first discovery in 2015. By the end of 2022, the company and […]

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]

(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]

(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 […]

Saipem Awarded Deals for $1.2bn in Guyana, Egypt

(Saipem, 15.Dec.2022) — Saipem has been awarded new contracts in Guyana and Egypt for a total amount of approximately $1.2bn. In Latin America: Guyana The first contract has been awarded by ExxonMobil Guyana, subject to government approvals, for the UARU oil field development project, located in the Stabroek block offshore Guyana […]

ExxonMobil Guyana Renews Sponsorship in 2023 for the 2nd Edition of IECEG 2023

(IECEG, 18.Nov.2022) — The International Energy Conference and Expo Guyana 2023 (IECEG 2023) today announced ExxonMobil Guyana as the premier sponsor of the second edition of the Conference & Expo. Commenting on the sponsorship, President of ExxonMobil Guyana, Alistair Routledge said, “The event’s theme, ‘Harnessing Energy for Development’, aligns with our […]

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 […]

Guyana Oil Production Data Available to the Public

(Energy Analytics Institute, 22.Aug.2022) — Guyana’s Ministry of Natural Resources announced that the country’s oil production data is now available for public consumption. The data is available via the ministry’s Petroleum Management Programme website. The website was created in 2021 to provide information and updates relating to Guyana’s oil sector […]

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 […]

TechnipFMC awarded significant contract for gas-to-energy project in Guyana

HOUSTON, TEXAS (Editors at Energy Analytics Institute, 1.Aug.2022) — TechnipFMC has been awarded a significant contract by ExxonMobil affiliate, Esso Exploration and Production Guyana Limited, for the gas-to-energy project in Guyana. For TechnipFMC, a significant contract has a value between $75mn-$250mn. The the full contract award will not be included in inbound orders […]

Subsea 7 and Van Oord Consortium Inks Contract Offshore Guyana

(Subsea 7, 27.Jul.2022) — Subsea 7 and Van Oord announced the award of a substantial(1) contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) for the Gas to Energy project offshore Guyana, in water depths of up to 1,450 metres. The scope covers the project management, engineering, and installation […]

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 […]

Hess Announces Two More Discoveries Offshore Guyana

(Hess, 26.Jul.2022) — Hess Corporation (NYSE: HES) today announced two new discoveries at the Seabob-1 and Kiru-Kiru-1 wells on the Stabroek Block offshore Guyana. The discoveries, which are the sixth and seventh this year, will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 11 billion barrels of […]

NRGBriefs: GYSBI’s Guyana Contract with Exxon; Cubico Wind Deals in Uruguay

(Energy Analytics Institute, 20.Jul.2022) — Energy briefs including Cubico Sustainable Investments acquiring two operating wind projects in Uruguay from ACS; Sempra announced plans to report its 2Q:22 earnings and host a corresponding conference call on 4 Aug. 2022; and Guyana Shore Base Inc. (GYSBI) signing an 11-year extended contract with […]

Guyana Shore Base Inks 11-year Extension Contract with ExxonMobil Guyana

(GYSBI, 18.Jul.2022) — Guyana Shore Base Inc. (GYSBI), a pioneering Guyanese company in the local oil and gas sector has inked an 11-year extension contract with Esso Exploration and Production Guyana Limited (EEPGL), an ExxonMobil affiliate for the provision of shore base management and operations services. The contract will run […]

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 […]

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 […]

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 […]

Exxon Starts Construction of Guyana Campus

(Energy Analytics Institute, 13.Apr.2022) — ExxonMobil continues to work closely with its local partners in Guyana to develop its new office campus in the small South American country. The oil giant has commenced construction of the steel superstructure for the project, which is expected to span 120,000 square feet. The […]

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 […]

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 […]

Yellowtail Offshore Guyana Development Project Approved

(DPI, 1.Apr.2022) — The Government of Guyana and Esso Exploration and Production Guyana Limited (EEPGL) earlier today signed the Petroleum Production License (PPL) for the Yellowtail offshore development in the Stabroek Block Offshore Guyana. The Yellowtail project approval was a result of extensive reviews done by local and international experts. Prior to […]

Eco (Atlantic) Oil and Gas Ltd. Reveals Strategic Acquisition of JHI in Guyana

(Eco (Atlantic), 14.Mar.2022) — Eco (Atlantic) Oil & Gas Ltd. (AIM:ECO)(TSX‐V:EOG) signed a Commercially Binding Term Sheet to acquire 100% of JHI Associates Inc., including JHI’s 17.5% Working Interest (“WI”) in the Canje Block offshore Guyana (the “Acquisition”). Highlights · A proposed cashless acquisition, with a value of approximately $52mn […]

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. […]

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]

(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 […]

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 […]

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 […]

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 […]

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, […]