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(OE) Viridien, formerly CGG, has made a sale of its Marlin vessel monitoring and alert system to ExxonMobil Guyana to support its offshore operations in Guyana. The sale was made through Viridien’s Sensing and Monitoring business line, marketed under the Sercel brand. As part of the wider Sercel Marlin software suite for optimizing offshore operations,... Continue Reading →
(Reuters) - Chevron shareholders on Wednesday re-elected all its 12 board directors, in a sign of support for the oil major at a time when it is caught in the regulatory crosshairs over its $53 billion proposed buyout of oil producer Hess Corp. CEO Michael Wirth said the company was moving ahead on the U.S. Federal... Continue Reading →
(Reuters) - Hess shareholders on Tuesday approved the company's $53 billion merger with No. 2 U.S. oil company Chevron (CVX.N), according to preliminary results of the vote. The merger required a majority vote to approve the deal by a majority of Hess' 308 million shares outstanding to pass. The company did not immediately provide the vote tally.... Continue Reading →
(Reuters) Petrobras' new chief executive said a basin in Brazil's Equatorial Margin, an environmentally sensitive offshore prospect seen as the country's most promising frontier for oil exploration, was a matter of "national interest." Magda Chambriard, who took over as the state-controlled oil company's chief executive after President Luiz Inacio Lula da Silva fired its former... Continue Reading →
(OilNow) Luiz Hayum, a principal analyst with Wood Mackenzie’s Latin America upstream research team, sees Guyana’s oil bounty raking in huge sums for the ExxonMobil-led consortium and the government. “Our valuation for Stabroek’s ten-FPSO development is over US$150 billion at US$65/barrel Brent prices split between the government and the three block partners,” Hayum said in... Continue Reading →
(OilPrice.com) Guyana would welcome U.S. firm Chevron joining the major oil projects that its peer Exxon is currently developing offshore the South American country, Guyana’s President Irfaan Ali has told the Financial Times. Chevron has proposed a multi-billion all-stock transaction to buy U.S. firm Hess, which is a minority partner of Exxon in Guyana’s prolific Stabroek... Continue Reading →
(OffshoreEnergy.biz) Japanese FPSO operator MODEC has achieved a new milestone by completing the keel laying for the construction of a floating production, storage, and offloading (FPSO) hull, which is destined for ExxonMobil’s fifth oil development in the Stabroek block offshore Guyana. A ceremony to mark the beginning of construction for the FPSO Errea Wittu was held on February 2,... Continue Reading →
(Reuters) An Exxon Mobil-led oil consortium will need to decide by October whether it will go ahead and develop a large natural gas find off the coast of Guyana, the country's vice president said on Thursday. The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The... Continue Reading →
Guyana has turned into a significant contributor to global crude oil supply growth in just a few short years. This is according to data published by the U.S. Energy Information Administration this week that showed Guyana had the third-fastest production growth rate globally, after the United States and Brazil. Between 2019, when oil production began in the... Continue Reading →
(OILNOW) Upstream has reported that SBM Offshore could take the upper hand in competition with MODEC to build and deliver Suriname’s first floating production, storage and offloading (FPSO) vessel, as it was “pre-selected as the preferred bidder.” Fabio Palmigiani, the publication’s South America Correspondent, said the information came from two industry sources. He wrote that SBM Offshore... Continue Reading →
Brazil Energy Insight 