Guyana News

Chevron's CEO Faces Challenges of a Lifetime with Hess Bid

Mar 08, 2024

Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals.On Wednesday…

Guyana to Disclose Winners of Offshore Auction by End of March

Feb 19, 2024

Guyana plans to disclose winners of the country's first competitive auction of offshore oil blocks by the end of March, an official with the country's Ministry of Natural Resources said on Monday.The government continues to review proposals…

Exxon Raises Guyana's Oil Production

Feb 06, 2024

A consortium led by Exxon Mobil Corp which controls all oil production in Guyana is pumping about 645,000 barrels per day (bpd) in the South American country, up from about 400,000 bpd in late 2023, the U.S. producer said at a press conference on Tuesday…

Hess Says Reviewing Timeline for Closing of Chevron Deal

Mar 07, 2024

U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess's Guyana assets.Exxon on Wednesday filed a contract arbitration…

Petrobras Exec Says Gas Export Possible from Colombia Project

Mar 20, 2024

A promising area off Colombia's coast where Brazil state-run Petrobras is drilling this year could justify a large project to supply natural gas to the Andean country and for exports, Petrobras' head of exploration and production said on Wednesday…

Esgian Week 11 Report: New Discoveries in UK and Namibia

Mar 17, 2024

Esgian reports that drilling contracts have been announced this week for operations in Brazil and the Philippines, and new discoveries have been confirmed in the UK and Namibia in its Week 11 Rig Analytics Market Roundup.ContractsCOSL Drilling…

Aize to Provide Digital Twins for Liza Unity and Liza Destiny FPSOs

Feb 08, 2024

Aker software company Aize has signed an agreement with ExxonMobil Guyana and SBM Offshore to deploy Aize digital twin software on the floating production storage and offloading (FPSO) units Liza Unity and Liza Destiny offshore Guyana.Aker-owned…

Hess Remains Fully Committed to Buyout Deal with Chevron

Feb 27, 2024

Hess said on Tuesday that a pre-emption provision does not apply to its proposed $53-billion buyout by Chevron and it remains 'fully committed' to the deal.On Monday, Exxon Mobil said it may pre-empt Chevron's acquisition of a 30% stake in a giant Guyana oil block…

Guyana Expects $2.4 Billion in Oil Revenue in 2024 as Output Rises

Jan 16, 2024

Guyana said it expects to receive some $2.1 billion from oil exports and $320 million from royalties this year as crude production continues to rise, an increase from the $1.62 billion received in 2023.The South American nation's gross domestic product is expected to increase by 34…

Oil Auction Winners in Guyana Requested More Info Before Contract Awards

Jan 11, 2024

The winners of an auction for oil exploration blocks off Guyana's coast were given until the end of the month to submit additional information requested by the government before awarding the contracts, the country's vice president said on Thursday…

ExxonMobil’s Prosperity FPSO Achieves Background Flare in 39 Days

Jan 12, 2024

ExxonMobil Guyana has unveiled that the Prosperity floating production storage and offloading (FPSO) unit, used in the Payara project, achieved background flare in 39 days, ahead of the 60-day target.Achieved ahead of schedule outlined in the project’s environmental permit…

ABB to Deliver Electrical System for ExxonMobil’s Errea Wittu FPSO

Jan 19, 2024

Singapore’s Offshore Frontier Solution – a joint venture between MODEC and Toyo Engineering Corporation – has awarded ABB a contract to deliver a complete electrical system and associated digital solutions for Errea Wittu floating production storage and offloading (FPSO) unit…

Esgian Week 8 Report: Industry Positive About Upcycle

Feb 24, 2024

This week, Esgian reports in its Week 8 Rig Analytics Market Roundup that offshore drilling contractors have expressed their confidence in the strength and longevity of the current upcycle.Report outline:ContractsValaris has confirmed that the contract for the 8…

Three Questions: Matt Tremblay, VP, Global Offshore Markets, ABS

Feb 23, 2024

The American Bureau of Shipping dominates the global market in the classification of Floating Production. Offshore Engineer recently sat with Matt Tremblay, ABS’ Vice President of Global Offshore Markets, at American Bureau of Shipping HQ in…

Exxon's $36 Billion Profit Beats Estimates

Feb 02, 2024

Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil…

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