Stabroek News

 

Exxon-led Consortium Ready to Relinquish 20% of Guyana Offshore Oil Block, Hess CEO Says

Mar 09, 2023

Hess Corp indicated the consortium that controls Guyana's oil production, of which it is a member, is prepared to relinquish 20% of the Stabroek oil block, but not any areas where it now produces or intends to produce oil in the future. An Exxon Mobil-led consortium controls the 6…

Oil-rich Guyana Looks to Develop Untapped Natural Gas Reserves

Mar 06, 2023

Guyana, the South American country that is home to the world's largest oil discoveries in a decade, next wants to develop its mostly untapped natural gas reserves, Vice President Bharrat Jagdeo said on Sunday.The nation aimed to diversify its…

Shell, Chevron, and Petrobras Eye Guyana Offshore Oil Auction Bids -Sources

Mar 06, 2023

Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras, and Chevron, to consider the decade's hottest oil region, people close to the matter said.The South American country is offering 14 offshore blocks…

Guyana's Offshore Oil Potential Draws Attention from Indian Firms

Feb 22, 2023

Guyana is working with the Indian government on awarding oil and gas exploration blocks to Indian companies, Vice President Bharrat Jagdeo said on Wednesday.The South American nation, home to one of the largest oil discoveries of the last decade…

Guyana to Monitor Offshore Drilling Rigs, Potential Oil Spills from Space

Feb 21, 2023

Maxar Technologies, a provider of space solutions and geospatial intelligence, has secured a three-year contract with the government of Guyana, for the provision of environmental monitoring services for both offshore and terrestrial applications…

Guyana Aims to Reclaim 20% of Stabroek Block from ExxonMobil

Feb 17, 2023

Guyana Vice President Bharrat Jagdeo told Reuters the country plans to take back 20% of the giant Stabroek oil block that has been responsible for a series of massive discoveries from a consortium led by Exxon Mobil Corp., and remarket it by next year…

Guyana's Oil Conference Starts as Exxon Mulls Adding More Offshore Blocks

Feb 14, 2023

As oil industry officials from around the world descend on Guyana for a conference to showcase its potential as an oil power, the biggest player in its oil boom still has decisions to make on its future in the South American country.Liam Mallon…

Keppel to Deliver Guyana-bound 'Mega' FPSO to SBM Offshore in 1Q

Feb 01, 2023

Singapore's Keppel Offshore & Marine said Wednesday it was on track to deliver a 'mega' floating production, storage, and offloading vessel (FPSO) to SBM Offshore in the first quarter of 2023. This is the third FPSO that Keppel Shipyard is delivering…

Hess Tops Wall St Profit Forecasts, Discovers More Oil Offshore Guyana

Jan 25, 2023

Energy producer Hess Corp. on Wednesday beat Wall Street estimates for fourth-quarter profit on higher crude prices, and said it had found more oil offshore Guyana.Western sanctions against major energy producer Russia and the decision of producer…

Hess Expects Higher 2023 Spending with Focus on Guyana, Bakken

Jan 24, 2023

U.S. oil and gas producer Hess Corp on Tuesday forecast higher Exploration & Production (E&P) capital and exploratory budget of $3.7 billion for 2023, of which more than 80% would be allocated to Guyana and North Dakota's Bakken shale field…

High Impact Drilling Held Steady in 2022, Discoveries Up to 9.2 Billion Barrels

Jan 13, 2023

In a tumultuous year of change in the world, high impact drilling in 2022 remained at a similar level to 2021, with 81 high impact wells completing (Figure 1). Performance improved with discovered resource increasing from 7.4bnboe in 2021 to a preliminary estimate of 9…

Saipem Bags $1.2B Worth Offshore Oil Field Contracts in Guyana and Egypt

Dec 15, 2022

Italian energy industry services company Saipem has secured offshore oil and gas field construction contracts in Guyana and Egypt worth about $1.2 billion in total.In Guyana, the U.S. oil major ExxonMobil has hired Saipem to support its Uaru offshore oil field development project…

SBM Offshore, ExxonMobil Pen MoU for Another Guyana FPSO

Nov 11, 2022

Dutch FPSO systems provider SBM Offshore said Thursday it had signed a memorandum of understanding with ExxonMobil for the supply of another FPSO in Guyana.'The company recently placed an order for a seventh Fast4Ward MPF hull. The construction…

ExxonMobil Books Maersk Nomad SSV for Operations in Guyana

Nov 03, 2022

U.S. oil major ExxonMobil has chartered the Subsea Support Vessel (SSV) Maersk Nomad for a minimum one-year contract, supporting its field development activities offshore Guyana.Maersk Nomad will be operating with two ROVs onboard, providing…

MODEC Confirms FPSO FEED for Exxon's Uaru Oil Field Offshore Guyana

Nov 01, 2022

Japanese floating oil and gas production systems provider MODEC has signed a contract to perform Front End Engineering and Design (FEED) for an FPSO vessel for ExxonMobil's “Uaru” oil field development project offshore Guyana.The FEED contract…

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