SBM Offshore has completed the $1.5 billion project financing of the Jaguar floating production, storage, and offloading (FPSO) unit, which will be deployed at ExxonMobil's Whiptail project, located in the Stabroek Block, offshore Guyana.The project financing was fully secured by a consortium of 16 international financial institutions. The company expects to draw the loan phased over the construction period of the FPSO…
ExxonMobil has assumed ownership of the Prosperity floating, production, storage and offloading (FPSO) unit from SBM Offshore, operating at Payara, Guyana’s third offshore oil development on the Stabroek Block.ExxonMobil, through its affiliate ExxonMobil Guyana…
Guyana's lucrative agreement with an ExxonMobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp.The trio's combined net margin was 56%…
SBM Offshore has secured a contract from ExxonMobil to construct and install the Jaguar FPSO for the Whiptail development project located in the Stabroek Block in Guyana.The ownership of the Jaguar FPSO will be transferred to ExxonMobil Guyana…
Chinese offshore oil and gas major said it had filed an arbitration claim to establish a right over Hess' stake in the giant Guyana oilfield Stabroek in the event of the U.S. firm's sale to Chevron.CNOOC filed the arbitration application on March 15…
ExxonMobil has made an oil discovery at Bluefin in the Stabroek block offshore Guyana, marking its first discovery of 2024.The Bluefin well encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone and was drilled by the Stena Drilling's Stena Drillmax drillship in 4…
Exxon Mobil Corp on Wednesday said it filed a contract arbitration claim disputing Hess Corp's proposed sale of its Guyana oil properties, and suggested it may counter Chevron Corp's pending deal for the assets.The arbitration case seeks to…
Ocean services provider DeepOcean has been awarded a contract by ExxonMobil Guyana for the provision of subsea construction and inspection, maintenance, and repair (IMR) services offshore Guyana in South America.Under the contract, DeepOcean will plan and execute a wide range of subsea activities…
Japanese FPSO leasing firm MODEC said Thursday that the first steel-cutting ceremony for the Guyana-bound FPSO Errea Wittu had been held in China.MODEC secured its first order to supply an FPSO to Guyana in May 2023. The order came from an ExxonMobil…
KOTUG said Tuesday it had, via its Guyanese subsidiary KOTUG Guyana strengthened its position in Guyana with the arrival of three additional Offshore Terminal Tugs to support ExxonMobil Guyana’s offshore operations.With the arrival of KOTUG-owned ‘SD Grace’…
U.S. oil major ExxonMobil said Tuesday it had started production at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day. The company's third FPSO…
An appraisal well drilled by a consortium led by Exxon Mobil in Guyana has resulted in a 'significant discovery' of oil and gas, the South American country's energy ministry said on Thursday.The Lancetfish-2 well results mark the fourth offshore discovery in the country this year…
U.S. oil producers ExxonMobil and Hess Corp have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results.The exit comes as the producers focus on their larger and highly productive Stabroek block…
Guyana's environmental regulator on Wednesday granted an Exxon Mobil-led consortium approval to drill 35 new offshore exploration and appraisal wells as the group looks to expand its production successes in the South American country.The wells will be drilled within the group's 6…
Japan's MODEC said Monday it would proceed with engineering, procurement, and construction on the Uaru FPSO vessel following a final investment decision on the Uaru offshore oil project by ExxonMobil in Guyana last month.The Uaru FPSO is named ‘Errea Wittu’…
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