“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand.”
Vice president of exploration Mohd Redhani Abdul Rahman said the success would “drive further exploration for commercially viable hydrocarbon resources in the surrounding areas”.
Lancetfish-2 found around 20 metres of net oil pay in a new interval, the government said.
“As political and policy volatility becomes a feature of the operating landscape, even private companies with a high risk appetite could be facing binding constraints when seeking to invest in Vaca Muerta and offshore plays,” the analyst said.
Young said his country would work with Venezuela “to advance the development and production of Venezuelan natural gas for export and utilisation in Trinidad and Tobago. We have reached a significant agreement and milestone.”
The $9 billion project would aim to produce these fields, through subsea wells, to an FPSO. The facility would be around 150 km off the Suriname coast, with the reserves in water depths ranging from 100 to 1,000 metres.
The FPU would follow the same model as the Vito and Whale facilities, with Seatrium involved in both.
There were a number of near misses on Hebron in 2021. Incidents included injuries on the facility and a support vessel.
Drilling costs have been an issue at the Wei well. In June, CGX reported these had risen to $190-195mn. Before drilling, the companies had predicted $130-140mn.
Pemex CEO Octavio Romero Oropeza described it as a “very unfortunate accident”, pledging an investigation into the cause of the problem.
Pemex discovered Trion in 2012. The Mexican company brought BHP Billiton in to the plan in 2016 in order to help develop the field. Now, the companies have drilled six wells on the field. Woodside bought BHP in 2022.
“The successful commissioning of the Enping 15-1 oilfield CCS demonstration project will strongly support the company’s efforts in increasing reserves and production and pursuing green and low-carbon development,” said CEO Zhou Xinhuai.
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
SBM said it would operate the units via an Integrated Operation Model. This will involve seconding ExxonMobil Guyana employees to some onshore and offshore positions.
Six FPSOs could be producing on Stabroek by the end of 2027, with capacity of more than 1.2 million bpd. The number of FPSOs could rise to 10, aiming to produce the more than 11 billion barrels.
Speaking this morning at a media roundtable, Wintershall CEO Mario Mehren said the company was focused on two strategic priorities. “Diversification, through moderate growth for our E&P business. And decarbonisation, by building up our carbon management and hydrogen business.”
The service company noted the importance of tackling carbon emissions. It said it would help develop “one of the lowest carbon emitting” FPSOs in the world.
Shell (LON:SHEL) has announced it will move forward with Dover, a new subsea tieback to its Appomattox hub in the US Gulf of Mexico.
Where Vito has led, Shell’s Whale will follow. The company reached FID on Whale in 2021 and it is due to begin producing in 2024.
A new report from the US’ transport safety regulator sheds new light on the incident which killed three workers and a helicopter pilot in December.
BP (LON:BP) has confirmed a doubling of output at its flagship Thunder Horse platform in the US Gulf of Mexico, as it looks to ramp up production in the basin by mid-decade.
Explorers are “taking a measured view and holding budgets and activity steady whilst trying to improve overall exploration efficiency”, Westwood said.
The US Coast Guard suspended its search for four passengers on a downed helicopter on December 29.
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
ExxonMobil has scored another two finds offshore Guyana its incredibly prolific Stabroek block.