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U.S. oil major ExxonMobil is set to drill another well in the Canje Block, offshore Guyana, after it was last week announced that the first well drilled -the Bulletwood-1 - failed to strike commercial oil volumes. ExxonMobil has now moved Stena Drilling's Stena Carron drillship to the Jabillo-1 well location in the same block and... Continue Reading →
CGX Energy, a Canadian-based oil and gas firm focused on Guyana, expects to spud an exploration well in its Corentyne block in the second half of 2021. In a recent update, CGX Energy said the Kawa-1 exploration is expected to be drilled to a depth of approximately 6,500 meters (“m”) in a water depth of... Continue Reading →
The COVID-19 pandemic, 2020 crude oil price crash and ongoing global petroleum supply glut have done little to slow the growth of South America’s massive offshore oil boom. The colossal oil boom underway in the tiny South American nation of Guyana is gaining momentum, while Suriname is on the cusp of experiencing its own and... Continue Reading →
ExxonMobil has failed to find commercial quantities of oil at the Bulletwood-1 offshore well in the Canje Block, offshore Guyana. The well, spudded on December 30, 2020, was drilled using the Stena Carron drillship and was the first well drilled in the Canje Block off Guyana. The 4,800 sq km Canje Block lies 180km offshore... Continue Reading →
The Stena Carron drillship most recently used by ExxonMobil to drill the Bulletwood-1 well in the Canje Block offshore Guyana has moved to a new drilling location. This is according to Westmount Energy which owns an indirect interest in the Canje Block, through its 7.2% stake in JHI Associates, which is a partner in the... Continue Reading →
Oil major ExxonMobil has experienced technical issues with a gas compressor on the SBM Offshore-owned FPSO Liza Destiny, working for ExxonMobil offshore Guyana. Experts are now working to define the scope of repairs and fix the issue. ExxonMobil said at the end of January 2021 that there was a technical issue regarding a seal on... Continue Reading →
Results from an independent prospective resource study confirm the views of Frontera and CGX Energy JV about the high prospectivity of the Corentyne North Area, Corentyne Main Area, and Demerara block, located offshore Guyana. The JV is now preparing for an exploration well in Corentyne Block slated for 2H 2021. Frontera Energy and CGX Energy,... Continue Reading →
COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account for more than 60% of the FPSO contracts awarded between 2021 and 2025. These are the... Continue Reading →
Subsea boosting could make an immediate increase in production profitably on more than 200 oil projects globally, according to Rystad Energy’s newly launched Subsea Processing Screening Tool. The increase in recoverable reserves for the top 100 projects, out of more than 200 projects identified where subsea boosting would be profitable, averaged 61 million barrels of... Continue Reading →
(Reuters) - U.S. oil producer Hess Corp has been selected to market two Guyana crude oil shipments as the emerging oil power seeks a permanent partner to handle its share of a major offshore oil find, the country’s vice president said on Tuesday. The South American country has became an oil hotspot after a consortium... Continue Reading →
Brazil Energy Insight 