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(Offshore Energy) CGX Energy and Frontera Energy have made a discovery at the Kawa-1 well located on the Corentyne block offshore Guyana, reinforcing the belief in the potentially transformational opportunity for the JV in the country. The two have now also committed to drill the second well on the block in the second half of... Continue Reading →
U.S. oil and gas company Hess Corporation has revealed that its Exploration & Production capital and exploratory budget for 2022 will amount to $2.6 billion, of which approximately 80 per cent will be allocated to Guyana and the Bakken. The situation was similar last year when Hess allocated more than 80 per cent of its 2021 Exploration... Continue Reading →
There are no official comments from the Suriname authorities regarding Bolsonaro's comments. Brazil's President Jair Bolsonaro said on Thursday that Suriname will give Brazilian state-controlled oil company Petrobras priority in the exploration of oil and gas reserves recently discovered off-shore. Bolsonaro spoke by webcast to supporters in Brazil from Paramaribo, where he met on Thursday... Continue Reading →
(Reuters) - The heads of state of Brazil, Guyana and Suriname this week will take the first steps toward forging an infrastructure that would better share the neighboring South American countries' energy and natural resources. Brazil's President Jair Bolsonaro is expected to arrive in Suriname on Thursday, and will travel on Friday with the head... Continue Reading →
(Reuters) - Brazilian President Jair Bolsonaro will visit Suriname and Guayana on Thursday and Friday for talks on economic cooperation following recent discoveries of oil and gas by Brazil's two neighbors, the foreign ministry said on Monday. Bolsonaro and the presidents of Suriname, Chandrikapersad Santokhi, and Guayana, Irfaan Ali, will hold a working lunch in... Continue Reading →
TotalEnergies E&P Suriname, a subsidiary of the French energy major TotalEnergies, has decided to exercise its option for one additional well to be drilled by the Maersk Drilling-owned Maersk Valiant rig. Maersk Drilling reported on Friday that TotalEnergies’ Suriname branch has exercised an option to add the drilling of one additional well in Block 58... Continue Reading →
Oil majors Chevron and Shell have worked out a farm-out agreement for Block 5, located offshore Suriname. Suriname’s national oil company Staatsolie revealed on Friday that Chevron Exploration Suriname Limited (CESL), a subsidiary of Chevron, transferred to Shell one-third (20 per cent) of its 60 per cent equity interest in the block for which it has... Continue Reading →
(Reuters) - A unit of U.S. oil producer Chevron Corp (CVX.N) on Friday transferred one-third of its 60%-equity interest in an offshore Suriname block for which it has a production sharing agreement to a unit of Royal Dutch Shell (RDSa.L), Suriname's state oil company said. Paradise Oil Company, a subsidiary of Suriname's state-run Staatsolie, retains its 40% stake... Continue Reading →
(Reuters) Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana, and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising... Continue Reading →
(Offshore) Wood Mackenzie’s Global Upstream Outlook 2022 predicts a 9% increase in investments next year to more than $400 billion. The consultants expect more than 40 projects with resources of more than 50 MMboe to be sanctioned, with low-breakeven, low-carbon deepwater projects dominating greenfield final investment decisions. Fraser McKay, vice president upstream research, said: “Companies will allocate... Continue Reading →
Brazil Energy Insight 