(OP) In Guyana’s territorial waters, after Exxon’s swathe of world-class petroleum discoveries, gigantic ships called floating production storage and offloading (FPSO) vessels are sucking crude oil from reservoirs up to four miles below the Earth’s surface. Since then, it has been estimated the former British colony of just over 800,000 possesses at least 11 billion barrels of recoverable... Continue Reading →
(Reuters) - Colombia's state-run oil company Ecopetrol (ECO.CN) will invest between $5.7 billion and $6.7 billion and produce up to 730,000 barrels per day equivalent (boepd) in 2024, it said in a statement. A majority of that spending, about $4.8 billion, will go toward keeping production between 725,000 and 730,000 boepd, the company's refineries at between 420,000... Continue Reading →
(OE) Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% ownership in oil and gas lease OML 128, including the unitised 20.21% stake in the Agbami oil field, operated by Chevron. Equinor has been present in Nigeria since 1992 and has played a significant role in... Continue Reading →
Portuguese oil and gas company Galp has kicked off drilling operations at a well in license PEL 83 offshore Namibia, located close to Shell’s Graff and TotalEnergies’ Venus discoveries. On the other hand, the U.S. oil major Chevron is looking to drill up to ten new wells in PEL 90. These licenses are located in... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors approved, at a meeting held today, the Strategic Plan for the five-year period 2024-2028 (SP 2024-28+), planning to invest US$ 102 billion over the next five years. The first plan of this administration, the SP 2024-28+ aims to prepare Petrobras for the future and... Continue Reading →
Wilson Sons, a leader in port and maritime logistics in Brazil, signed a contract with Beyond Petroleum (BP) to provide logistical support for drilling activities in the Pau Brasil block, through one of its Rio Offshore Supply Base, in Guanabara Bay. The contract with BP, a world leader in oil and natural gas exploration, development... Continue Reading →
(Reuters) - Venezuela is close to approving a license for Shell (SHEL.L) and the National Gas Company of Trinidad and Tobago to develop a promising offshore natural gas field and export its production to the Caribbean country, two people close to the matter said. The license could set in motion a long-running effort by Trinidad to boost... Continue Reading →
(OET) AIM-listed and Canada-headquartered oil and gas company Eco (Atlantic) Oil & Gas is embarking on a search for new partners, after expanding its interest in a block offshore Guyana, thanks to the green light for the acquisition of Tullow Oil’s entire interest in Tullow Guyana (TGBV), which includes the Orinduik license and operatorship of... Continue Reading →
Two oil and gas players – Canada’s CGX Energy and Frontera Energy – have revealed the well results for a discovery in the Corentyne block offshore Guyana, which serve to further highlight the potential for a standalone shallow oil resource development across the block. According to CGX and Frontera, a total of 114 feet (35 meters)... Continue Reading →
(Reuters) - Malaysia's state-owned oil firm Petronas has discovered several oil-bearing layers in an exploration well off the coast of Suriname, state oil firm Staatsolie said in a statement on Thursday. Suriname's offshore exploration areas are adjacent to Guyana, home to the largest oil finds in more than decade. The Roystonea-1 well is part of... Continue Reading →
