SBM Offshore signed a 10-year Operations and Maintenance Enabling Agreement for its Guyana FPSO fleet with ExxonMobil Guyana

SBM Offshore is pleased to announce it has signed a 10-year Operations and Maintenance Enabling Agreement with Esso Exploration & Production Guyana Ltd (aka “ExxonMobil Guyana”) for the Operations and Maintenance of FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA. This framework agreement establishes the new terms related to the operations of the Guyana... Continue Reading →

May 2, 2023 0

Brazil agency recommends barring Petrobras from drilling in Amazon’s mouth

Reuters) - Brazilian environmental agency Ibama has recommended the rejection of state-run oil firm Petrobras' (PETR4.SA) request to drill a well in the mouth of the Amazon River Basin, documents seen by Reuters showed on Friday. Signed last week by several environmental analysts from Ibama, the report also recommended the agency stop processing environmental licenses for the... Continue Reading →

May 1, 2023 0

Exxon Mobil Approves $12.7B Uaru Offshore Oil Project in Guyana

(Reuters) Exxon Mobil Corp and its partners have approved a $12.7 billion investment for their fifth and most expensive offshore oil project in Guyana, the U.S. firm said in a statement. The project called Uaru will produce up to 250,000 barrels of oil and gas per day and cost 27% more than the prior of equivalent size,... Continue Reading →

April 28, 2023 0

Exxon delivers record first-quarter profit on higher output

(Reuters) - Exxon Mobil Corp (XOM.N) on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding a wave of strong demand and cost-cutting tied to efforts to counter... Continue Reading →

April 28, 2023 0

ExxonMobil Strikes Oil Again in Guyana’s Stabroek Block

ExxonMobil has made yet another oil discovery in Guyana's prolific Stabroek offshore block. The news of the new offshore oil discovery in Guyana was shared by Hess Corp., ExxonMobil's partner in the block, where around 11 billion barrels of oil have been discovered in recent years. According to Hess, a partner alongside China's CNOOC in... Continue Reading →

April 26, 2023 0

Tethys Marine & Logistics Becomes 51% Shareholder of OSV Firm Bourbon Guyana

Bourbon Marine & Logistics has partnered with the Guyanese company Tethys Marine & Logistics, which becomes a 51% shareholder of the Bourbon Guyana Joint Venture. "With 75% Guyanese Directors, Bourbon Guyana thus becomes the first indigenous Offshore Support Vessels operator, fully compliant with the most recent local content regulations," Bourbon Marine & Logistics said. "With a... Continue Reading →

April 17, 2023 0

Guyana Delays Closely-watched Oil Blocks Auction to July

(Reuters) Guyana's closely watched auction of 14 offshore oil blocks faces a delay with the South American country pushing back the deadline for oil explorers to submit bids to mid-July. The three-month delay is in response to industry feedback and the need for modernizing the country's oil and gas regulatory framework, which is expected to... Continue Reading →

April 13, 2023 0

Third FPSO Arrives in Guyana’s Stabroek Block

(OE) Dutch FPSO specialist SBM Offshore on Tuesday announced the arrival of the FPSO Prosperity at the Stabroek Block offshore Guyana. The FPSO traveled just over 11,000 nautical miles – or just over 20,000 kilometers - from Singapore to Guyana in just under 50 days. On track for first oil later this year, Prosperity becomes... Continue Reading →

April 11, 2023 0

World Court says it can rule on Guyana-Venezuela border dispute

(Reuters) - Judges at the International Court of Justice (ICJ) on Thursday ruled they had jurisdiction over a long-running border dispute between Guyana and Venezuela, which could determine which country has rights to territory rich in oil and gas. Guyana in 2018 asked the ICJ, also known as the World Court, to confirm that the... Continue Reading →

April 6, 2023 0

Turning Brazil into world’s fourth largest oil producer with new hydrocarbon exploration program

Brazilian Ministry of Mines and Energy (MME) is setting the wheels into motion to launch a program, which would step up investments in oil and natural gas exploration to promote regional development and foster national production while making Brazil the fourth largest oil producer in the world. To this end, Brazil’s Minister of Mines and... Continue Reading →

March 27, 2023 0

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