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Oct 17 (Reuters) - Venezuela expects nearly $76 billion in oil investment over the next five years under recently signed agreements, acting President Delcy Rodriguez said on Saturday, adding that a bilateral accord with the US includes plans to drill 250 rigs. Since the January ouster of President Nicolas Maduro, the country has been reopening... Continue Reading →
Oct. 19 (oilnow.gy) ExxonMobil is evaluating wells near its Ranger discovery offshore Guyana for possible tiebacks to a future development, with Rockhead among the wells drilled this year. John Ardill, ExxonMobil’s vice president, outlined the work in a LinkedIn post. The exploration and appraisal program is gathering subsurface data to assess a commercial development in... Continue Reading →
Oct. 17 - bp has identified signs of hydrocarbons in well 1-BP-14-SPS, the first exploratory well drilled in the Tupinambá block, located in the pre-salt layer of the Santos Basin. Drilling took place in September using Transocean’s Deepwater Mykonos drillship. The company acquired a 100% stake in the block during the second cycle of the... Continue Reading →
Oct. 17 (oilnow.gy) Guyana’s Uaru Gold crude is expected to enter the market in December with a quality profile closely resembling the country’s first-produced Liza grade, according to preliminary assay data reviewed by Platts, part of S&P Global Energy, on October 14. The new grade is expected to have an American Petroleum Institute (API) gravity... Continue Reading →
Oct. 17 (oilnow.gy) Guyana’s first competitive oil auction offered more shallow water blocks than deep water acreage. Eleven of the 14 blocks were in shallow water, and six were selected for negotiations in October 2023. The round, launched in December 2022 and closed in September 2023, formed part of efforts to attract additional operators to... Continue Reading →
Oct. 15 (TN) Equinor is celebrating the first year of production at the Bacalhau field, reaching the milestone of 25 offloading operations and 25 million barrels of oil produced. This achievement coincides with the company’s 25th anniversary in Brazil and underscores the field’s strategic importance to Equinor’s long-term growth in the country. Operated by Equinor—in... Continue Reading →
Oct 15 (Reuters) - ExxonMobil has told Guyana it will need more offshore gas to maximize oil production than the government had expected, potentially leaving less for liquefied natural gas production and exports, two people close to the talks said. Guyanese officials are now weighing whether to shrink a planned LNG project or skip exports... Continue Reading →
Oct. 15 (OE) TGS and SLB have announced the second phase of their Pelotas Sul multi-client 3D seismic survey offshore southern Brazil, covering approximately 11,200 square kilometers in the Pelotas Basin. A Ramform Titan-class vessel is scheduled to begin data acquisition in October 2026, with the survey expected to be completed in the second or... Continue Reading →
Oct 15 (Reuters) - South Africa's environment minister has dismissed a challenge lodged by conservationists against an environmental authorisation to allow exploration in TotalEnergies-operated Block 3B/4B off the country's West Coast. The decision by Environmental Affairs Minister David Maynier, dated October 13 and seen by Reuters, is the latest in a series of appeals and... Continue Reading →
Oct 15 (Reuters) - Angola intends to implement faster exploration concessions from next year as part of a new long-term hydrocarbon strategy that aims to attract investment and stimulate oil and gas production, a senior government official said on the sidelines of an energy conference in Cape Town. Here are some details: The 25-year plan... Continue Reading →
