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(ON) As commercial discoveries continue to increase offshore Guyana, more projects will come online, generating an unprecedented inflow of revenue to the new oil producing South American country, which Norway-based Rystad Energy said could top US$130 billion. “If all discoveries were to be developed, you`re looking at, in the next 20 years, over $130 billion... Continue Reading →
Highlights Year-to-date Directional1 revenue of US$970 million, in line with expectationFull year 2022 Revenue and EBITDA guidance maintainedCash dividend of US$1 per ordinary share paid, 13% year-on-year increase and representing c. 7% yield2FPSO Liza Unity delivered on time and on budgetFPSO ONE GUYANA award confirmed, to be added to the backlog Financial Overview YTD Directional in... Continue Reading →
(Reuters) - A joint venture formed by Canada-based firms CGX Energy (OYL.V) and Frontera Energy (FEC.TO) on Monday said results from a well drilled in Guyana's offshore Corentyne block showed the presence of light oil and gas condensate. "The joint venture encountered hydrocarbons in multiple zones," the companies said in a press release, following completion of drilling activities at... Continue Reading →
(Reuters) - Guyana is in "no rush" to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output. The government of South America's newest crude oil producer said in 2021 it was planning a new agreement to... Continue Reading →
Singapore's Keppel Offshore & Marine has, via its subsidiary Keppel Shipyard, secured contracts worth around S$250 million (~USD180,4 million) for the integration of two Floating Production Storage and Offloading vessels (FPSO). Keppel Offshore & Marine, which is set to merge with Semcorp Marine, said Friday that the FPSO integration contracts were awarded by repeat customers, BW Offshore,... Continue Reading →
(Reuters) - Guyana has started discussions with Exxon Mobil Corp (XOM.N) to build a more than 120-mile (190-km) natural gas offshore pipeline, Natural Resources Minister Vickram Bharrat said on Tuesday at the Offshore Technology Conference in Houston. Guyana, a tiny South American country, is trying to build infrastructure including a gas-fueled power plant to develop its economy... Continue Reading →
Oilfield services giant TechnipFMC has secured an additional contract and received notice to proceed from ExxonMobil for its Yellowtail development in the Stabroek Block offshore Guyana. The newly announced, "significant" flexibles contract covers six risers that are qualified for high pressure and high temperature. For TechnipFMC, a “significant” contract is between $75 million and $250... Continue Reading →
Exxon Mobil Corp doubled its first-quarter per-share profit, it said on Friday, but the results fell short of Wall Street estimates, even excluding a $3.4 billion writedown from its withdrawal from Russia. The top U.S. oil producer tripled its buyback program, saying it will repurchase upto $30 billion in shares by the end of next... Continue Reading →
(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. “We must have a major deepwater port to handle a Panamax” ship, President Irfaan Ali said today during an investment seminar... Continue Reading →
(Reuters) Exxon Mobil Corp on Tuesday said it found oil in three new wells drilled off the coast of Guyana, raising recoverable oil and gas potential from its discoveries to nearly 11 billion barrels. The discoveries continue a run of exploration successes that date to 2015, and lifts potential oil and gas volumes by nearly... Continue Reading →
