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(OilNow) Luiz Hayum, a principal analyst with Wood Mackenzie’s Latin America upstream research team, sees Guyana’s oil bounty raking in huge sums for the ExxonMobil-led consortium and the government. “Our valuation for Stabroek’s ten-FPSO development is over US$150 billion at US$65/barrel Brent prices split between the government and the three block partners,” Hayum said in... Continue Reading →
(OilPrice.com) Guyana would welcome U.S. firm Chevron joining the major oil projects that its peer Exxon is currently developing offshore the South American country, Guyana’s President Irfaan Ali has told the Financial Times. Chevron has proposed a multi-billion all-stock transaction to buy U.S. firm Hess, which is a minority partner of Exxon in Guyana’s prolific Stabroek... Continue Reading →
(Reuters) - Portugal's new government is committed to developing offshore wind energy and also sees "repowering" onshore wind farms and promoting solar projects, including small-scale ones, as a priority, the environment minister said on Monday. Maria da Graca Carvalho said the government would announce some details of its offshore wind energy policy in July as... Continue Reading →
(Reuters) Oil major BP and U.S. shale producer EOG Resources are in discussions to jointly develop a natural gas field off the coast of Trinidad and Tobago, the British company said. The field holds just under 1 trillion cubic feet (tcf) of natural gas, but will eventually be tied back to another BP discovery, bringing... Continue Reading →
(OE) Petrobras, together with its partners, has made the final investment decision (FID) for the second development phase of Atapu and Sépia fields, located in the prolific pre-salt Santos Basin, offshore Brazil. The Atapu field has been producing since 2020 through the P-70 floating production storage and offloading (FPSO) unit, with a production capacity of... Continue Reading →
Petróleo Brasileiro S.A – Petrobras informs that, today, it signed contracts with Seatrium O&G Americas Limited to acquire the P-84 and P-85 vessel platforms. Both units will be self-owned and installed in the Atapu and Sépia fields, respectively, in ultra-deep waters of the pre-salt of the Santos Basin, with first oil date between 2029 and... Continue Reading →
(offshoreWind.biz) The California Independent System Operator (CAISO) has approved the 2023-2024 Transmission Plan that identifies and plans for key upgrades to California’s transmission system to deliver power from offshore wind turbines to the state’s homes and businesses. CAISO unveiled its draft 2023-2024 Transmission Plan last month which identifies a need to invest in 26 transmission... Continue Reading →
Petróleo Brasileiro S.A – Petrobras, following up on the release published on 05/22/2024, informs that its Board of Directors, at a meeting held today, appointed Magda Chambriard as a member of the Board of Directors and elected her as the company's new CEO. Magda Chambriard took office in both positions on this date and joined... Continue Reading →
(OffshoreEnergy.biz) Japanese FPSO operator MODEC has achieved a new milestone by completing the keel laying for the construction of a floating production, storage, and offloading (FPSO) hull, which is destined for ExxonMobil’s fifth oil development in the Stabroek block offshore Guyana. A ceremony to mark the beginning of construction for the FPSO Errea Wittu was held on February 2,... Continue Reading →
(Reuters) An Exxon Mobil-led oil consortium will need to decide by October whether it will go ahead and develop a large natural gas find off the coast of Guyana, the country's vice president said on Thursday. The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The... Continue Reading →
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