Reuters) - Exxon Mobil Corp (XOM.N) on Friday received approval to begin work on its fourth offshore oil project in Guyana from the South American country's Environmental Protection Agency. The permit will allow Exxon to begin construction and operation of its Yellowtail project, the latest of up to 10 expected to be producing oil this decade. A... Continue Reading →
SBM Offshore’s Prosperity FPSO Leaves Dry Dock in Singapore
https://www.youtube.com/embed/FrGBl51bBj0 The hull of the FPSO Prosperity, which will be Guyana's third offshore production unit after the Liza Destiny and Liza Unity, has recently left the dry dock in Singapore, in preparation for topside installation works. The hull arrived in Singapore last year from China where it was built. In Singapore, Keppel will install the... Continue Reading →
Shell among companies chasing Ecuadorian oil after Russia sanctions
(Bloomberg) — U.S. refiners Valero Energy Corp and Marathon Petroleum Corp., along with Shell Plc’s trading unit Shell Western Supply and Trading, are rushing to secure Ecuadorian barrels after America banned imports of Russian crude. Ecuador’s state oil company EP Petroecuador held back-to-back meetings this week in Louisiana with several refiners and trading houses, according... Continue Reading →
Eco Atlantic Agrees to Buy Guyana-focused JHI
(OE) Oil and gas company Eco Atlantic has agreed to acquire 100% of Toronto-based JHI Associates Inc. ("JHI"), including JHI's 17.5% stake in the Canje Block offshore Guyana. The Canje Block, offshore Guyana, is directly adjacent to the prolific Stabroek Block where ExxonMobil has discovered more than 10 billion barrels of oil. ExxonMobil operates the Canje Block... Continue Reading →
Frontera to Lend $35M to CGX for Guyana Drilling
Guyana-focused oil companies Frontera Energy Corporation and CGX Energy, joint venture partners in the Corentyne block offshore Guyana, said Friday they'd entered into a $35 million loan deal that will enable CGX to continue to finance part of its share of costs related to the Corentyne Block, the Berbice Deepwater Port, and other budgeted costs... Continue Reading →
Exxon raises Guyana’s long term oil production outlook
(Reuters) - Exxon Mobil Corp (XOM.N) on Wednesday said it plans to have capacity to produce with partners 1.2 million barrels per day of oil and gas (boed) offshore of Guyana by 2027. That adds 200,000 boed of production capacity compared to a previous estimate by the consortia led by Exxon. The group produced 120,000 boed in... Continue Reading →
Rystad sees Guyana overtaking U.S. Gulf of Mexico production in ‘unbelievable’ ramp up
(ON) The extent of the development projects offshore Guyana within such a short space of time since the first oil discovery in 2015 is being viewed as ‘unbelievable’ by Norway-based energy research and business intelligence company, Rystad Energy. Now, the South American country, unknown on the oil map just seven years ago, is on track... Continue Reading →
Guyana, Suriname may be the most exciting exploration hot spot in history – Rystad Energy
(ON) The unprecedented oil and gas discoveries unfolding in the Guyana-Suriname basin are of historic proportions and make the region stand out as one of the most exciting hot spots the industry has seen in decades. “The Liza-1 well will be equated with the 1-RJS-628 well in terms of discovering a major petroleum province in... Continue Reading →
More Than 350 Subsea Trees to Be Ordered in 2022, Level Not Seen Since 2013, TechnipFMC Says
Oilfield services giant TechnipFMC expects more than 350 subsea tree orders to be made globally in 2022, a level which it says has not been seen in years. The oilfield equipment and services firm saw its full-year 2021 inbound orders in the subsea segment hit the $5 billion figure, a 24 percent increase compared to... Continue Reading →
Guyana Talking to Middle East Firms about Offshore Oil Auction
(OE) Guyana is in talks with state-run oil firms from the Middle East to discover new offshore fields, Vice President Bharrat Jagdeo told Reuters, hoping to recruit a new and substantial explorer to its nascent energy industry. Results of the talks with Middle East firms could lead Guyana to bar a consortium led by U.S.... Continue Reading →
