"Guyana" News

Exxon Banks Record $56B Profit in '22

Jan 31, 2023

Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are…

BP to Market Guyana's Share of Oil Output from Two FPSOs

Nov 28, 2022

BP will market Guyana's share of crude oil produced over the next year from two offshore production platforms, the South American country's Ministry of Natural Resources said. Guyana is home to one of the largest oil discoveries in the last decade…

Guyana Launches Bidding Round for 14 Offshore Oil Blocks

Dec 12, 2022

Guyana on Friday formally opened a highly anticipated bidding round for 14 oil and gas blocks in its oil-rich offshore, hoping to award exploration contracts by the end of May.The country is home to one of the largest oil discoveries in the last decade…

Trinidad Weighs Direct Negotiations to Allocate Oil, Gas Areas

Jan 24, 2023

Trinidad and Tobago will consider direct negotiations with energy companies for oil and gas exploration, possibly moving away from a competitive bidding round system, Prime Minister Keith Rowley said on Monday. The talks follow difficulties…

Global Offshore Drilling Outlook – New Play Exploration Appetite Steady But Strong

Jan 12, 2023

Welligence expects global offshore exploration drilling activity in 2023 to remain relatively steady year-on-year, with the majors driving much of the activity in their core regions. Two areas with big impact potential - the Atlantic Basin and…

2023 Forecast:: Led by Brazil, Offshore Oilfield Services Spending to Rise

Jan 05, 2023

Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1)…

China's CNOOC Eyes Record Oil, Gas Production for 2023

Jan 11, 2023

China's CNOOC Ltd has set its 2023 production target at a record 650 million to 660 million barrels of oil equivalent (boe), about 8% above last year's goal.  The state-controlled offshore oil and gas company produced about 620 million boe last year…

Venezuela Asks World Court to Throw Out Guyana border case

Nov 18, 2022

Venezuela told judges at the International Court of Justice (ICJ) on Thursday that they should throw out a case filed by Guyana in a long-running border dispute, which could determine which country has rights to offshore oil and gas fields. Guyana…

Guyana: Frontera, CGX to Spud Wei-1 Well 'No later than January 31, 2023"

Nov 28, 2022

Frontera Energy Corporation and CGX Energy Inc, partners in the Corentyne block offshore Guyana, have been given more time to drill the Wei-1 exploration well.Under the Corentyne block license terms, the joint venture was previously required to spud Wei-1…

Brazil: CGG Starts Foz do Amazonas 3D Seismic Reimaging Project

Jan 09, 2023

French offshore seismic data company CGG has announced the start of a new Foz do Amazonas 3D seismic reimaging project. This project is meant to support Brazil's Permanent Offer initiative in the Equatorial Margin. Supported by industry funding…

Brazil: TGS, CGG in Foz do Amazonas 3D Survey

Jan 04, 2023

Offshore seismic data companies TGS and CGG on Wednesday announced the second phase of the Foz do Amazonas 3D multi-client survey, located in the offshore Brazil equatorial margin. This survey, covering 11,425 square kilometers, will broaden…

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…

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…

Booming Guyana Sets Offshore Oil Auction Under Revamped Fiscal Terms

Nov 04, 2022

Guyana, one of the world's hottest oil drilling zones, will offer 14 offshore exploration blocks under terms that 'significantly' increase its share of oil revenue, the South American nation's vice president said on Thursday. Officials this…

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…

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