Offshore seismic data specialist CGG, in a consortium with TGS and BGP, on Tuesday announced the completion of Phase IV of the deepwater 3D seismic survey offshore Suriname. Covering 1,800 sq km, Phase IV completes the programmed 14,500 sq km survey of newly acquired 3D data in deep and shallow water in the promising Guyana-Suriname... Continue Reading →
Exxon-led Consortium Ready to Relinquish 20% of Guyana Offshore Oil Block, Hess CEO Says
(Reuters) Hess Corp indicated the consortium that controls Guyana's oil production, of which it is a member, is prepared to relinquish 20% of the Stabroek oil block, but not any areas where it now produces or intends to produce oil in the future. An Exxon Mobil-led consortium controls the 6.6 million acres (26,800 sq km)... Continue Reading →
Guyana Planning Second Oil Auction in 2024 to Bolster Expansion
(Bloomberg) Guyana is planning another auction of prospective oil-field leases next year as the world’s fastest-growing economy seeks to maintain the pace of development, Vice President Bharrat Jagdeo said. The country’s first auction is expected to take place by the end of May after being delayed by a few weeks as the government finalizes contract terms and legislation... Continue Reading →
Shell, Chevron, and Petrobras Eye Guyana Offshore Oil Auction Bids
(Reuters) Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras, and Chevron, to consider the decade's hottest oil region, people close to the matter said. The South American country is offering 14 offshore blocks, a move to speed economic development and reduce an Exxon Mobil-led consortium's dominance... Continue Reading →
Colombia’s Ecopetrol reports record net profit of $6.9 bln for 2022
(Reuters) - Colombia's majority state-owned oil company Ecopetrol (ECO.CN) on Tuesday reported record net profit of 33.4 trillion pesos ($6.9 billion) for 2022, double the previous year, boosted by higher oil prices and greater-than-expected production. Ecopetrol also reported a fourth-quarter net profit of 6.85 trillion pesos, up 13% from a year earlier. Reuters Graphics "During 2022 Ecopetrol... Continue Reading →
U.S. Gulf of Mexico Oil and Gas Lease Sale Set for March
The U.S. Bureau of Ocean Energy Management (BOEM) said Friday that it would hold an oil and gas lease sale in the Gulf of Mexico in March 2023. The Gulf of Mexico Oil and Gas Lease Sale 259 will offer approximately 13,600 blocks on 73.3 million acres in the Western, Central, and Eastern Planning Areas on... Continue Reading →
Report: Offshore wind energy plans in the Gulf likely delayed until summer
(OM) President Joe Biden’s administration is tapping the brakes on offshore wind energy development in the Gulf of Mexico to make way for a new fast-tracked effort to open more federal waters to oil and gas drilling. The move, as reported by New Orleans-based NOLA.com, will delay the first-ever auction of wind energy lease areas in the Gulf by at... Continue Reading →
Challenger targets 3D survey on offshore Uruguay block
(OM) Challenger Energy Group (CEG) expects to fulfil its work commitment for the first four-year exploration period on the AREA OFF-1 Block offshore Uruguay during second-quarter 2023. This includes 2D seismic reprocessing and various technical studies. In parallel, the company is seeking a farm-out to bring in a partner to fund an accelerated 3D seismic acquisition program.... Continue Reading →
Oil Stampede Is On in One of the Emptiest Places in the Americas
(Bloomberg) -- Annand Jagesar, the managing director of the state-owned oil company of Suriname, is a man in a hurry. He’s racing against time, nature and Guyana, the neighboring country that enviably discovered a massive offshore oil field in 2015. Jagesar believes Suriname, the former Dutch colony on South America’s northeastern coast (population about 620,000),... Continue Reading →
Oil companies return pre-salt blocks to ANP
(epbr) The oil companies returned to the Union three more exploratory blocks, acquired in the cycle of the major post-2017 oil and gas auctions, according to preliminary data from the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Highlight for Saturno, in the Santos Basin, purchased in 2018, in the 5th sharing round, by... Continue Reading →