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Guyana's economy is expected to expand by 500% by 2030 as companies continue to plumb its offshore oil and gas reserves, a government official said on Wednesday. The small South American country has become one of the world's oil exploration hotspots after a group led by Exxon Mobil Corp discovered more than 9 billion barrels... Continue Reading →
(Reuters) - Guyana and Suriname expect continued exploratory drilling over the next two years by oil majors in their joint offshore basin after a string of recent discoveries, government officials and corporate executives said at a conference on Wednesday. The neighboring South American countries, along with Brazil, attracted the most attendees to sessions at the... Continue Reading →
Guyana aims to increase its oil royalties and revamp other contract terms as part of a new profit-sharing agreement (PSA) for future crude and gas projects now in its draft stage, the South American nation's vice president said on Tuesday. The tiny country has become one of the most desired oil exploration hot spots after... Continue Reading →
(OE) The hull of the FPSO Prosperity, which will be Guyana's third offshore oil production unit once delivered, has arrived at the Keppel yard in Singapore, where it will be fitted with topside modules. SBM Offshore, which will deliver the FPSO to end client ExxonMobil, said that despite the various challenges posed by the ongoing global pandemic,... Continue Reading →
ExxonMobil has hired offshore services firm Oceaneering for the provision of two surveys offshore Guyana, where Exxon has over the past few years discovered around nine billion barrels of oil. Oceaneering will carry out a towed and autonomous underwater vehicle (AUV) geophysical survey and a shallow geotechnical survey off the coast of Guyana. Oceaneering will... Continue Reading →
(Reuters) Guyana's Natural Resources Ministry said on Monday the country earned nearly $80 million from a July crude cargo sold to an Indian refiner, the highest figure since exports began in early 2020, though an official ruled out a long-term supply deal. Guyana sold the cargo of 1,047,820 barrels of light, sweet Liza crude at... Continue Reading →
(Reuters) Guyana received bids from 15 different companies aiming to market the government's share of the crude produced off the South American country's coast, according to Guyana's National Procurement and Tender Board Administration website on Wednesday. The government re-launched the search last month after a previous tender was discarded. Bids were due on Aug. 3,... Continue Reading →
(PetroNoticias) The exploratory success in neighboring Suriname and Guyana, nations that entered the world oil and gas map after relevant discoveries on their coast, is a strong indication that the Brazilian portion of the Equatorial Margin also has great potential to become a new oil and gas production hub in the country. The topic was... Continue Reading →
(Oilprice) The global push to substantially reduce carbon and other fossil fuel emissions is expected to sharply impact demand for fossil fuels. It will eventually trigger a phenomenon known as peak oil demand, where crude oil consumption will cease growing, flat line, and then progressively contract causing prices to fall. A raft of analytical agencies and... Continue Reading →
According to Jim McCaul, Managing Director at IMA/World Energy Reports, Guyana has a huge appetite for FPSOs. Here's a brief 'by the numbers' look: The Stabroek Block covers 26,800 sq km containing multiple prospects and playsThere are 20+ discoveries to date with 9 billion boe estimated recoverable resourcesUp to 10 VLCC-size FPSOs are expected to... Continue Reading →
Brazil Energy Insight 