U.S. oil major ExxonMobil has reportedly started drilling at the Bulletwood-1 well site on the Canje Block, offshore Guyana. The news was shared Tuesday by Westmount Energy, an indirect partner in the Canje Block. Westmount owns an indirect interest in the Canje Block as a result of its circa 7.2% interest in the issued share... Continue Reading →
ExxonMobil Reaches Liza-1 Well Production Goal in Guyana
Exxon Mobil Corporation XOM recently reached a milestone, as the Liza-1 well in Stabroek block offshore Guyana met the original target of 120,000 barrels of oil per day (bpd) production at the site. A glitch in the re-injection process and equipment delays deferred the achievement of the milestone. Moreover, the coronavirus pandemic delayed the commissioning of... Continue Reading →
SBM Offshore, Shell Extend Brazil FPSO Term. SBM in Talks with Exxon Over Guyana Extensions
Oil giant Shell has extended the contract for the lease of SBM Offshore's Espirito Santo FPSO in Brazil. SBM Offshore is also in talks with ExxonMobil to extend the FPSO terms in Guyana. The Dutch FPSO operator said Wednesday that the lease and operation contracts with Shell of the FPSO Espirito Santo would be extended... Continue Reading →
Offshore Oil’s Dramatic Comeback
Smack dab in the middle of an oil price crisis caused by an unprecedented demand loss, Exxon announced the latest in a string of discoveries off the eastern South American shore, this time in Suriname. It must have felt like adding insult to injury for OPEC producers and reckless behavior for investors, but offshore oil... Continue Reading →
Hess encouraged by Suriname oil strikes, says offshore potential significant
Hess Corporation said it is encouraged by the exploration success of Apache and Total in Suriname’s Block 58 where three discoveries have so far been made and the search for more hydrocarbon continues. John Hess, CEO of Hess Corporation said Suriname is in the early stages of its offshore development, like where Guyana was in... Continue Reading →
Brazil’s Petrobras could expand into Guyana, CEO says
(Reuters) - Brazil’s Petrobras could expand its operations into neighboring Guyana, if the regulatory environment does not improve in Brazil, CEO Roberto Castello Branco said on Thursday, the first official admission of interest in the hot frontier oil play. Petroleo Brasileiro SA, as the company is formally known, has exploration interests off Brazil’s northern coast.... Continue Reading →
Frontera, CGX pushes back Guyana drilling by one year
Joint venture partners in the Corentyne block offshore Guyana – Frontera Energy and CGX Energy – have concluded collaborative discussions with the Government of Guyana concerning the rescheduling of the work commitments on the block. Frontera said on Friday that the joint venture was committed to completing its exploratory commitments in full, despite operational activities... Continue Reading →
ExxonMobil Makes Non-Commercial Discovery at Guyana’s Deepest Offshore Well
U.S. oil major ExxonMobil has made another oil discovery off Guyana, at the Tanager-1 well, however, the discovery is reported as non-commercial. Unlike Exxon's previous Guyana wells which were drilled in the Stabroek offshore block, and which unearthed more than 8 billion barrels of oil, the Tanager-1 well was drilled in the nearby Kaieteur Block. Westmount Energy, which... Continue Reading →
Topside Integration Works Kick Off on Liza Unity FPSO in Singapore
SBM Offshore, a Dutch FPSO specialist, has informed that the topside integration phase has kicked off in Singapore on the Liza Unity FPSO. Once completed the FPSO will be deployed at ExxonMobil's Stabroek offshore block in Guyana, and will be Guyana's second FPSO in production. "Progress [with the Liza Unity FPSO] picked up pace when... Continue Reading →
Rystad: Oil and Gas Exploration Activity in 2020 ‘Resilient’ Despite Covid-19
Norwegian energy intelligence group Rystad Energy has said that oil and gas exploration activity in 2020 has been resilient, despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades. "Found resources already exceed 8 billion barrels of oil equivalent (boe) and are projected to settle at around 10 billion boe... Continue Reading →
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