Eco Atlantic, an oil company with offshore oil and gas acreage in Guyana and Namibia, said Tuesday it had formed a new solar energy-focused company Eco Atlantic Renewables, citing, in part, a lack of oil and gas acquisition opportunities.Formed with Nepcoe Capital Partners Ltd. ('Nepcoe'), a renewable energy developer and investment company, the aim of Eco Atlantic Renewables is to source, acquire and develop an exclusive pipeline of potential high yield solar projects…
North Sea-focused oil company NEO Energy has struck a deal to buy ExxonMobil's UK North Sea assets, a month after it was announced the companies had started exclusive talks over a potential transaction.Backed by Norwegian private equity investor HitecVision…
COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account…
U.S. oil producer Hess Corp has been selected to market two Guyana crude oil shipments as the emerging oil power seeks a permanent partner to handle its share of a major offshore oil find, the country's vice president said on Tuesday.The South…
Guyana on Thursday abruptly terminated an agreement with Taiwan to open an office in the South American country, hours after China urged Georgetown to 'correct their mistake.'Taiwan's foreign ministry earlier on Thursday said it had signed an agreement with Guyana on Jan…
Oil and gas producer Hess Corp on Monday forecast a small drop in output and set a $1.9 billion budget for 2021, most of which will go to Guyana, touted as one of the most important new oil and gas discoveries in the last decade.The company has been relying on its investment in offshore Guyana…
Oil and gas company Tullow Oil is set to start drilling at its Goliathberg Voltzberg North-1 (GVN-1) exploration well, offshore Suriname, targeting 235 million barrels of oil. The news of the drilling operation startup was shared by Tullow's partner Ratio Petroleum…
Following a conditional letter of the award signed with the French oil giant Total last November for the supply of two offshore drilling rigs in Suriname, Danish offshore drilling firm Maersk Drilling said Monday Total has firmed up the contracts…
Exxon Mobil Corp said on Friday that its latest exploration well in the prolific Stabroek block off Guyana's coast did not find oil in its target area, the second setback to its drilling campaign in recent months.Exxon, which operates the Stabroek…
French oil giant Total and its partner Apache said Thursday they'd made a new significant oil and gas discovery at the Keskesi East-1 well, in Block 58 off the coast of Suriname. This follows previous offshore discoveries in the Block at Maka Central…
High impact exploration has weathered a perfect storm of a pandemic, an oil price crash, and an accelerating energy transition, and enters 2021 with a substantial drilling program that should at least match 2020.High-impact exploration started…
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…
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…
Malaysian oil and gas company Petronas has made its first offshore discovery offshore Suriname.The company, as the operator of Block 52, said Friday the hydrocarbon discovery had been made while drilling the Sloanea-1 exploration well in the offshore block…
Environmental activists are seeking to prevent Bahamas Petroleum Company from drilling its Perseverance #1 well offshore the Bahamas, just days ahead of the expected spud date.As previously reported, Bahamas Petroleum Company has hired Stena…
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