Tullow Oil cut its outlook for production and cash flow because of persistent problems in Ghana, while revealing that the quality of oil recently discovered in Guyana was heavy in nature, sending its shares down more than 20%.Commenting for…
The U.S. Gulf of Mexico is positioned for another year of record oil production in 2020, despite massive cuts in investment.According to Rystad Energy, most of this growth coming from deep water projects.“2020 is expected to be another record year with average production above 1…
NOIA President Erik Milito weighs in after Congressional Democrats introduced the Stop Giving Big Oil Free Money Act, which the lawmakers say will repeal 'a loophole' in the Deepwater Royalty Relief Act of 1995 (DWRRA) that allowed oil and gas…
ExxonMobil has made an oil discovery in the the closely watched Stabroek block offshore Guyana, the supermajor announced on Monday.The discovery in the Tripletail-1 well in the Turbot area adds to the previously announced estimated recoverable…
Tullow Oil plans to drill three or more oil exploration wells in Guyana next year, Chief Executive Officer Paul McDade said on Monday after the firm's second oil discovery in the country.Following the Jethro-1 discovery last month, London-listed…
American petroleum company Hess Corporation said that the Liza Destiny floating, production, storage and offloading (FPSO) vessel has arrived at the closely watched Stabroek Block offshore Guyana after a 42-day journey from Singapore.Liza Destiny…
On 28 October 2019 oil giant BP announced a major gas discovery, Orca-1, exploration well in the BirAllah area off the coast of Mauritania.“The deepest and largest discovery so far this year, Rystad Energy estimates Orca-1 holds around 1.3 billion…
GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019.South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter…
Veolia Water Technologies said its VWS Westgarth subsidiary has been awarded a multimillion dollar contract by SBM Offshore for the supply of a seawater treatment package for the Liza Unity floating production, storage and offloading unit (FPSO)…
Energy services company Wood said Stephanie Cox will take over as CEO of its Americas business, succeeding Andrew Stewart who has been appointed executive president of strategy and development for the global business.Responsible for the firm’s…
SBM Offshore completed the $1.14 billion project financing of Liza Unity floating production, storage and offloading unit (FPSO), the Netherlands-based company announced on Wednesday.The project financing was secured by a consortium of nine international banks…
Springfield Exploration and Production Limited (SEP), a subsidiary of Springfield Group, has spudded the first of its new deepwater wells off the coast of Ghana.After targeting Afina-1x, the Stena Forth drillship will move to drill Oak-1x. The…
Operator Tullow started drilling a fresh exploration well in Guyana's offshore Orinduik block, partner Eco Atlantic announced on Tuesday.Joe-1 was spud August 25 using the Stena Forth drillship, which previously drilled the recently announced Jethro discovery…
Bourbon confirmed on Wednesday that the body of a fourth crew member has been recovered following the sinking of its vessel Bourbon Rhode last week. Only three of the 14 Bourbon Rhode crew members have been rescued as the search continues for seven mariners still missing…
Oslo-headquartered TMC Compressors of the Seas said on Monday it has been awarded a contract from Chinese shipyard Shanghai Waigaoqiao Shipbuilding to supply the marine compressed air system to the Liza Unity floating production, storage and offloading unit (FPSO)…
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