(CNOOC, 29.Apr.2020) — CNOOC Limited announced its key operational statistics for the first quarter of 2020. The Company achieved a total net production of 131.5 million barrels of oil equivalent (“BOE”) for the first quarter of 2020, representing an increase of 9.5% year-over-year (“YoY”). Production from China increased by 9.7% […]
Tag: Liza
Guyana – The World’s Newest Oil Producer
(IHSMarkit, 24.Jan2020) — In an environment of oil supply glut, a new player entered the scene. Guyana, a nation bordering Venezuela and Brazil – two countries with large oil reserves – has established itself as an oil producer as of 20 December with the first crude production from Liza (Phase […]
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 […]
JHI And Mid-Atlantic Verify Details Of Canje Block In Guyana
(JHI Associates, 1.Jun.2019) — JHI Associates, Inc. and Mid-Atlantic Oil & Gas, Inc. (MOGI) provided details concerning award of the Canje Block offshore Guyana in 2015. As a statement of record, the block was awarded on March 4, 2015, using the standard Guyana Model Production Agreement. The Liza-1 well on […]
SBM Offshore Awarded Contracts For ExxonMobil FPSO Liza Unity
(SBM, 10.May.2019) — 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 next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install and thereafter lease and operate for […]
Bynoe Says Guyana On Cusp Of Transformational Development
(Guyana Dept. Of Public Information, 3.Dec.2018) — Director, Department of Energy, Dr. Mark Bynoe this morning announced that United States oil giant ExxonMobil has made its 10th discovery offshore Guyana at the Pluma-1 well. This latest discovery has increased the estimated recoverable resource for the Stabroek Block to more than […]
ExxonMobil Makes 10th Guyana Find; Raises Stabroek Estimate To 5 Bln Bbls
(ExxonMobil, 3.Dec.2018) — ExxonMobil said today it made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels. The resource estimate, up from the previous estimate of more than 4 billion oil-equivalent barrels, is a […]
Guyana: The World’s Next Offshore Oil Hotspot
(Oilprice.com, Tsvetana Paraskova, 23.Oct.2018) — With population of fewer than 750,000 people, Guyana—a neighbor of Venezuela—has always depended on commodities. Sugar, gold, shrimp, timber, bauxite, and rice account for nearly 60 percent of this South American country’s gross domestic product (GDP). Now, Guyana is set to add another valuable commodity […]
Guyana May be the Next Big Beast in Global Oil
(The National, Robin Mills, 8.Oct.2018) — One of the few major new conventional oil provinces discovered this century could see the country emerge as the top per capita producer. Who will be the world’s largest oil producing country per person in the 2020s? Kuwait perhaps, with 3 million barrels per […]
Shawcor to Provide Pipe Coating Services for Guyana Deepwater Projects
(Shawcor Ltd. 4.Oct.2018) — Shawcor Ltd. (SCL) announced that its pipe coating division has been assigned work from Saipem valued at approximately C$110 million to provide thermal insulation and anticorrosion coating services for the Liza I and II deepwater development projects located offshore Guyana. Coating work under the Liza I […]
Let’s Use Guyana Oil Funds for Teachers
(Stabroek News, 6.Sep.2018) — Dear Editor: How could we have billions of barrels of oil in 2018 and not be able to pay our teachers a living wage? The value of having the requisite quality of well-paid and motivated teachers of the highest calibre will reverberate across this nation in […]
ExxonMobil Adds Ninth Discovery Offshore Guyana
(ExxonMobil, 30.Aug.2018) — Irving, Texas-based ExxonMobil has made its ninth discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery on the Stabroek Block in the past year and proving a new play concept for potential development. Hammerhead-1 encountered approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir. […]
Guyana’s ‘Astonishing’ Future
(Trinidad Express, David Renwick, 31.Jul.2018) – The US’s leading oil company, ExxonMobil, continues to make discovery after discovery in its Stabroek block offshore Guyana, the latest being Longtail 1 – its eighth so far. The company says this “creates the potential for additional resource development in the south east area […]
Guyana: Will its Oil Boom Benefit the People?
(Al Jazeera English, 30.Jul.2018) – Oil companies have identified massive offshore reserves in Guyana, one of South America’s poorest nations. New estimates last week report that more than 4 billion barrels of oil could be extracted from a region known as the Stabroek block, where ExxonMobil expects to start pumping […]
ExxonMobil Raises Stabroek Block to More Than 4 Bln Bbls
(ExxonMobil, 23.Jul.2018 ) – ExxonMobil has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development and consideration of two additional phases. The increase follows completion of […]
Offshore Guyana Oil and Gas Potential is “Massive”
(UPI, Daniel J. Graeber, 23.Jul.2018) – The size of a reservoir off the coast of Guyana is “massive,” the CEO of Hess Corp. said Monday after a multi-million barrel revision to reserve estimates. Hess and Exxon Mobil on Monday revised the estimate of recoverable reserves at the Stabroek block off […]
Could Guyana’s Oil Fortunes Curse Country?
(Energy Analytics Institute, Pietro D. Pitts, 8.Jul.2018) – Recent success in Guyana’s oil sector could be a wolf in sheep’s clothing. Guyana doesn’t yet produce oil but in coming years its oil output is expected to surpass that of Peru and Trinidad and Tobago and could approach that of Ecuador, […]
Trinidad, Guyana and Suriname: Challenges
(AIPN, 27.Jun.2018) – Petroleum consultants and other energy sector experts will discuss the challenges and opportunities in Trinidad & Tobago, Guyana and Suriname during a discussion in London. The select group will consist of Kevin Ramnarine, former Trinidad & Tobago Energy Minister (2014-15); Energy Strategic Advisor and Lecturer Carlos Bellorin, […]
ExxonMobil Announces 8th Find Offshore Guyana
(Energy Analytics Institute, Piero Stewart, 20.Jun.2018) – Irving, Texas-based Exxon Mobil Corporation’s good luck continues in Guyana. The oil giant announced it has made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block, Exxon […]
ExxonMobil Reconfirms March 2020 for First Guyana Oil
(Denis Chabrol, DemeraraWaves, 12.Jun.2018) – ExxonMobil on Tuesday reconfirmed that Guyana will pump up its first barrel of oil in March 2020, even as the Guyana government continued to fend off criticisms of the 2016 production sharing agreement. Vice President of ExxonMobil Development Company, Lisa Walters said work was well […]
Favorable Terms To Help Guyana Prove Potential
(Rystad, 19.Apr.2018) — Rystad Energy analysis shows that Guyana’s fiscal regime is favorable to oil companies when compared to mature oil and gas development countries but is in line when compared with other countries of equivalent maturity. The International Monetary Fund, quoted early last week by Reuters, argued that the […]
ExxonMobil Announces Sixth Oil Discovery Offshore Guyana
(Exxon Mobil, 5.Jan.2018) – Exxon Mobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion […]
The Caribbean Poised To Become Major Oil Region
(OilPrice.com, Haley Zaremba, 22.Aug.2017) – In the future, we may be hearing about the Caribbean a whole lot more when talking about oil and gas. Previously, the area was virtually off the map for the fossil fuels industry, despite its proximity to the vast oil reserves of Venezuela. Now, the […]
ExxonMobil Makes Final Decision Regarding Liza Development
(Exxon Mobil, 16.Jun.2017) – Exxon Mobil Corporation said it has made a final investment decision to proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. The company also announced positive results from the Liza-4 well, […]
ExxonMobil: About Guyana
(Exxon, 20.Feb.2017) — Located on the northern mainland of South America, Guyana is bordered by the Atlantic Ocean to the north, Brazil to the south, Suriname to the east and Venezuela to the west. With 215,000 square kilometres (83,000 square miles), Guyana is the fourth-smallest and only English-speaking country on mainland […]
ExxonMobil Success in Guyana Continues
(Energy Analytics Institute, Piero Stewart, 16.Jan.2017) – ExxonMobil’s successful drilling streak continues in Guyana as the Irving, Texas-based company announced positive results from its second offshore well Payara-1, also located on the Stabroek Block. The well, located just 16 kilometers from the earlier game-changing Liza discovery, encountered over 29 meters […]
ExxonMobil Announces New Oil Discoveries Offshore Guyana
(Exxon Mobil, 12.Jan.2017) – Exxon Mobil Corporation announced positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in a new reservoir. The Payara-1 well targeted similar aged reservoirs that were proven successful at the company’s Liza discovery. “This […]
ExxonMobil Awards Key Contracts for Liza in Guyana
(Exxon Mobil, 20.Dec.2016) – Exxon Mobil Corporation subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), announced that it has awarded contracts to SBM Offshore for a floating production, storage and offloading (FPSO) vessel, a key step in moving the Liza field toward first production. Under the contracts, SBM Offshore will […]
ExxonMobil’s 2nd Well Offshore Guyana Confirms Oil
(Exxon Mobil, 30.Jun.2016) – Exxon Mobil Corporation said that drilling results from the Liza-2 well, the second exploration well in the Stabroek block offshore Guyana, confirm a world-class discovery with a recoverable resource of between 800 million and 1.4 billion oil-equivalent barrels. “We are excited by the results of a […]
ExxonMobil Reports Significant Oil Discovery Offshore Guyana
(Exxon Mobil, 20.May.2016) – Exxon Mobil Corporation announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana. The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., and encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs. It was […]