"Guyana" News

Year in review: 2017's Top 10 discoveries

Dec 19, 2017

Audrey Leon looks at some of 2017's 10 largest offshore discoveries. First published in the December 2017 OE. While exploration hasn’t been as hot as it used to be, the finds this year have been big and plentiful. Wood Mackenzie has provided the year’s 10 biggest finds by volume…

Finding costs fall to $0.50/bbl, lowest since 2011

Dec 18, 2017

Global high-impact* exploration in 2017 is expected to match 2016 in both activity and success rates, and with a marked improvement in commercial oil volumes discovered and lower finding costs. High impact drilling commercial success…

Hess completes Equatorial Guinea sale to Kosmos

Nov 29, 2017

Hess Corp. has completed the sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for US$650 million. Hess’ exit from Equatorial Guinea comes after nearly two decades of operations at the Ceiba field and Okume complex…

Liza tanker arrives in Singapore

Nov 15, 2017

The tanker destined for ExxonMobil's Liza Phase 1 project, offshore Guyana, has arrived at Keppel's shipyard in Singapore, SBM Offshore announced today (14 November). SBM has said that the tanker's arrival marks the start of the FPSO conversion phase…

Africa Oil to invest in, jointly explore with Eco

Nov 13, 2017

Africa Oil Corp. (AOC) and Eco (Atlantic) Oil and Gas are forming a strategic partnership for exploration in West Africa and Guyana. Under the terms of an investment agreement, AOC has agreed to acquire a 19.77% shareholding in Eco through the purchase…

2017 turnaround for FPS segment

Nov 10, 2017

The floating production systems (FPS) has seen a return to activity in 2017, says analysts Westwood Global Energy Group.  The firm says that in 2016 no FPS units were ordered. With two months of the year remaining, 11 units have been ordered this year…

Suriname duster for Tullow Oil

Oct 27, 2017

Tullow Oil's latest 'ambitious wildcat' well offshore Suriname, south America, has failed to make a commercial discovery.  The Araku-1 exploration was drilled to a total depth of 2685m and penetrated the objectives of the Araku prospect…

Hess inks $2 billion Norway sale

Oct 24, 2017

Aker BP has agreed to buy Hess Norge, which includes major stakes in the Valhall and Hod fields, from Hess for US$2 billion as the US oil firm continues an offshore asset sale. Yesterday, Kosmos Energy said it had agreed to acquire Hess' 85% stake in two long-producing oil fields…

Kosmos takes Hess assets off Equatorial Guinea

Oct 23, 2017

Kosmos Energy entered Equatorial Guinea with a splash by acquiring Hess' 85% stake in two long-producting oil fields for US$650 million, as well as signing production sharing contracts (PSCs) for three other blocks in the Rio Muni basin…

ExxonMobil makes fifth Guyana discovery

Oct 05, 2017

ExxonMobil has further confirmed the potential of the Stabroek block offshore Guyana with a fifth oil discovery in the Turbot-1 well. Stena Carron drillship. Image from Stena Drilling. ExxonMobil…

Keppel lands ExxonMobil Liza FPSO conversion

Oct 05, 2017

Keppel Shipyard has won a floating production storage and offloading (FPSO) vessel conversion contract from SBM Offshore for ExxonMoibil's Liza development offshore Guyana. The contract is for the conversion of a very large crude carrier (VLCC) into an FPSO…

Exxon exec: 'A healthy geophysics industry is needed'

Sep 27, 2017

A healthy geophysical industry will be needed to enable exploration and production (E&P) companies to find not only unconventional hydrocarbons, but deepwater and conventional oil and gas as well, said Stephen Greenlee, president of ExxonMobil Exploration Co…

Brazil sees success in 14th round

Sep 27, 2017

Brazil experienced a “historic day in the oil and gas sector” with its 14th Round, as the joint venture of Petrobras and ExxonMobil signed the largest bonus of US$701 million (R$2.24 billion) for a block in the Campos basin. Oddone…

Total lines up stake offshore Guyana

Sep 26, 2017

Total has agreed an option agreement with Eco (Atlantic) Oil & Gas to acquire a 25% stake in the Orinduik Block, offshore Guyana, South America. Eco subsidiary Eco Guyana currently holds a 40% working interest in Orinduik, with Tullow Oil…

OE17: A subsea recovery?

Sep 06, 2017

In a sustained low oil price environment, operators are facing increased pressure to reduce costs and minimise risk when making a final investment decision (FID) on a project, resulting in many capital intensive offshore developments being shelved…

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