"Guyana" News

ExxonMobil Finds Oil at Pinktail Well, Offshore Guyana

Sep 09, 2021

U.S. oil firm ExxonMobil has made another oil discovery offshore Guyana, this time at Pinktail prospect in the prolific Stabroek Block.The Pinktail well, ExxonMobil said, encountered 220 feet (67 meters) of net pay in high-quality hydrocarbon…

Saudi Aramco Unit Wins Guyana Oil Tender

Sep 08, 2021

Guyana awarded a unit of Saudi Aramco a tender to purchase a portion of the country's oil production, and the two parties will likely enter into a one-year marketing deal, an official said on Tuesday.The South American country last month received…

Third Time's a Charm? ExxonMobil Spuds Sapote-1 Well in Canje Block, Offshore Guyana

Aug 30, 2021

U.S. oil major ExxonMobil has spudded the Sapote-1 well on the Canje Block, offshore Guyana. This is the company's third well in the block drilled this year. The first two wells, Bulletwood-1 and Jabillo-1, failed to find evidence of commercial hydrocarbons…

INEOS Buys Hess' Denmark Assets for $150M

Aug 30, 2021

INEOS E&P has completed the acquisition of Hess' subsidiary Hess Denmark for $150 million. Hess will use the proceeds to fund its projects in Guyana.With the acquisition, first announced in March, INEOS has become the owner of 61.5% of the Hess-operated Syd Arne oil field…

CGX to Drill Another Well in Guyana Using Maersk Discoverer Rig

Aug 30, 2021

CGX Resources has exercised an option to drill one more exploration well offshore Guyana using Maersk Drilling's Maersk Discoverer drilling rig, the Danish drilling firm has confirmed.CGX, which started drilling a week ago at its first well…

CGX, Frontera Spud Kawa-1 Well Offshore Guyana

Aug 23, 2021

Canadian-based firm Frontera Energy and CGX Energy have started drilling at the Kawa-1 exploration well, offshore Guyana, using Maersk Drilling's Maersk Discoverer semi-submersible drilling rig. Also, the firms have exercised the option to drill a second well with the rig…

ExxonMobil Delays Drilling Decision for 2nd Kaieteur Block Well in Guyana

Aug 23, 2021

ExxonMobil is taking more time to nominate the prospect target for the second exploration well on the Kaieteur Block, offshore Guyana, its partners in the project said.Westmount Energy, an indirect partner in the block on Monday cited Ration Petroleum…

Emerging Oil Nations Reject Climate Curbs on Exploration, Eye Rapid Development

Aug 20, 2021

The world's newest oil-producing nations grabbed the spotlight at this week's Offshore Technology Conference with ambitious plans to tap oil and gas discoveries in a race against a global energy transition to lower-carbon fuels.At the conference…

Spurred by Offshore Oil Discoveries, Guyana's Economy to Grow 500% by 2030

Aug 19, 2021

Guyana's economy is expected to expand by 500% by 2030 as companies continue to plumb its offshore oil and gas reserves, a government official said on Wednesday.The small South American country has become one of the world's oil exploration hotspots…

Guyana, Suriname Eye Further Drilling from Oil Majors After Discoveries

Aug 18, 2021

Guyana and Suriname expect continued exploratory drilling over the next two years by oil majors in their joint offshore basin after a string of recent discoveries, government officials and corporate executives said at a conference on Wednesday…

Guyana to Increase Oil Royalties and Revamp Contract Terms for Future Oil Projects

Aug 18, 2021

Guyana aims to increase its oil royalties and revamp other contract terms as part of a new profit-sharing agreement (PSA) for future crude and gas projects now in its draft stage, the South American nation's vice president said on Tuesday.The…

Guyana Vows to Develop Its Oil in an Environmentally Safe Manner

Aug 17, 2021

Guyana will develop its massive oil and gas discoveries with full environmental protections, a top official told a U.S. energy conference on Tuesday, pushing back against calls for energy providers to halt new exploration.The tiny South American…

Report: Official Says Brazil's Lower-carbon Oil projects Can Attract Majors

Aug 17, 2021

Rising calls to cut carbon emissions and to reduce global warming could generate more offshore partnerships and increase the output of cleaner oil for Brazil, the production chief of state-controlled Petrobras said in an interview.Brazil oil…

UK-based Software Firm in Recruitment Drive after $5M Deals Secured in Oil & Gas Space

Aug 12, 2021

Aberdeen-based software firm ZynQ 360 is set to hire more people on the back of several contract awards in the oil and gas space totalling more than $5 million.ZynQ 360 said Thursday that the contracts would be delivered across the USA, UK, and Western Australia…

VIDEO: Prosperity FPSO Hull Arrives in Singapore

Aug 12, 2021

The hull of the FPSO Prosperity, which will be Guyana's third offshore oil production unit once delivered, has arrived at the Keppel yard in Singapore, where it will be fitted with topside modules.SBM Offshore, which will deliver the FPSO  to end client ExxonMobil…

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