Brought to you by Quest Offshore & Southern Cone Consultants
Oceaneering International announced that its Remotely Operated Survey group has successfully completed an integrated rig services campaign for a major operator offshore South America, recording a milestone 150,000 hours of ROS operations and no client operations or vessel downtime. Oceaneering was contracted by Apache Corp. in June 2019 to provide Integrated Rig Services on the... Continue Reading →
Guyana has no plans to cut crude output despite a plunge in oil prices, the government's top energy official said on Monday, adding that shutting down production could prove costly and harm future output. Mark Bynoe, the director of the Department of Energy, said the country's crude production averages between 75,000-80,000 barrels per day (bpd)... Continue Reading →
Chinese oil and gas company CNOOC saw an increase in its quarterly output driven by new project startups in China and the contribution from new international projects. However, CNOOC’s quarterly revenues decreased due to lower oil and gas prices. According to its report on Wednesday, CNOOC achieved a total net production of 131.5 million barrels... Continue Reading →
Oil shipments from nascent crude producer Guyana's prolific Liza field could be affected by a growing storage glut that has contributed to plunging global crude prices, the country's director of energy said. A consortium led by Exxon Mobil began producing crude from the offshore field in December after discovering more than 8 billion barrels of... Continue Reading →
More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest for a contract to market the Guyanese government's share of the country's crude, the government said on Tuesday. The National Procurement and Tender Board administration unveiled... Continue Reading →
Exploration plans are being redrawn and the well count is expected to drop by as much as 35 per cent on 2019 levels due to the “double whammy” of the oil price collapse and COVID-19 pandemic, according to market research provider Westwood Global Energy Group. At the start of the year, the number of high-impact... Continue Reading →
Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government's share of the country's crude, despite a plunge in global prices, four people familiar with the matter said. Oil major Royal Dutch Shell and commodities traders Gunvor and Mercuria were among the companies that... Continue Reading →
Offshore drilling contractor Noble Corporation has backtracked on its 2020 guidance announced in February, citing the recent sharp decline of oil price due to the oil oversupply and drop in demand caused by COVID-19, as the reason. Noble Corp, a provider of drilling services to oil and gas companies, said Thursday that it expected the... Continue Reading →
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war, a Rystad Energy impact analysis shows. These wells, located in Norway, Brazil, the Bahamas, Guyana, the... Continue Reading →
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash. Payara's startup had been slated for "as early as 2023" and was expected to eventually produce... Continue Reading →
