(Argus, 3.Jun.2020) — Suriname is edging closer to a change of government that could pave the way for expanded offshore oil exploration. The South American country is hoping to emulate neighboring Guyana, where ExxonMobil started oil production from the deepwater Stabroek block in December 2019. Suriname’s current production is limited […]
Tag: Tullow
Total Buys Tullow Interests In Uganda Project
(Total, 23.Apr.2020) — Total and Tullow have entered into an Agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline. The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at […]
Suriname’s 14 Active PSCs With IOCs And NOCs
(Energy Analytics Institute, 3.Oct.2019) — Suriname has 14 active production-sharing contracts (PSCs) with companies from Apache and Total to Petronas and ExxonMobil. The PSCs grant contractors the authority to operate in the respective block on behalf of Suriname’s state oil and gas company Staatsolie. An overview of the active PSCs, […]
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 […]
Tullow Eyes Two Guyana Exploration Wells In 2H:19
(Tullow, 26.Jun.2019) — In Guyana, Tullow plans to drill two consecutive exploration wells in the second half of 2019 on the Orinduik licence with the Stena Forth drillship which is currently in transit from Ghana. The first well will target the Lower Tertiary Jethro prospect and drilling is expected to […]
Argentina Awards 18 Exploration Areas Offshore For $724 Million
(Energy Analytics Institute, Aaron Simonsky, 17.May.2019) — Argentina’s Energy Secretariat awarded 18 areas corresponding to the first International Offshore Public Competition, the country’s Finance Ministry announced May 17 in an official statement. The crude oil and natural gas exploration areas offered cover three basins of the Argentine continental shelf. Companies […]
Peru President Cancels Tullow’s Offshore Oil Contracts
(Reuters, Marco Aquino & Mitra Taj, 23.May.2018) — The government of Peruvian President Martin Vizcarra canceled his predecessor’s decision to award five offshore oil contracts to London-based Tullow Oil PLC shortly before resigning, citing insufficient consultations with coastal residents. The reversal, which was published in the official gazette on Wednesday, […]
Vizcarra Says Peru to Review Contracts, Including Tullow’s
(Energy Analytics Institute, Jared Yamin, 4.May.2018) – Peru’s President Martin Vizcarra announced his government plans to review all petroleum exploration contracts awarded in the country. His comments come as artisan fishermen in northern Peru continue to protest decrees that authorized Perupetro to award five petroleum lots, also known as ‘lotes’ […]
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 […]