Deepwater and tight oil are two of the upstream sector’s great growth themes, but are often considered to be at opposite ends of the development spectrum.
Guyana is due to hold a general election later this year that could have a significant bearing on the country’s emergence as a new oil frontier.
Guyana’s anti-corruption agency is investigating how exploration rights were awarded in the world’s biggest new deepwater oil region, including those now controlled by Exxon Mobil Corp. and Tullow Oil Plc.
Exploration costs, lower oil and gas prices and heavy maintenance dented ExxonMobil’s earnings for the start of the year.
ExxonMobil said Thursday it made its 13th oil discovery offshore of Guyana, increasing its rapidly rising tally of finds near the tiny South American nation.
Aberdeen's Lord Provost, Barney Crockett, flew out of Guyana on Friday after a fruitful trip to this soon-to-be oil rich South American nation.
It is in South America yet they speak English. Culturally and in cricket terms they are West Indian. Guyana was the setting for Sir Walter Raleigh's mystical city of gold: El Dorado.
Two nations that were once intertwined were joined together in Georgetown today.
Aberdeen-headquartered Stena Drilling has been booked for an exploration well on the Orinduik block offshore Guyana.
Aberdeen will be officially twinned next month with a country that has one of world's fastest-growing oil and gas industries.
Guyana, a country that currently produces no crude, could pump more than OPEC member Venezuela in five years.
The socialist government of Venezuela and its political opponents at home who have been starkly divided over the past two decades on the best path forward for the country, have suddenly united around a common theme: the century-old dispute with Guyana.
Exxon Mobil and Hess Corp. said Monday they've increased their reserve estimates offshore of Guyana by 25 percent after making a 10th discovery in the region.
Dozens of industry representatives gathered in Aberdeen yesterday to help the North Sea partner with the new “El Dorado” of oil and gas.
Diplomats yesterday praised the “long-lasting relationship” being forged between Aberdeen and the South American nation of Guyana, while on a trade mission to the city.
A trade mission from Guyana will visit Aberdeen later this month to foster business links with north-east oil and gas companies.
Oil field services giant TechnipFMC has been awarded a contract by ExxonMobil for the engineering of the subsea system for the proposed Liza Phase 2 project off Guyana.
Aberdeen-headquartered Stena Drilling expects to have a presence in Guyana “at least through 2019” thanks to a successful campaign for ExxonMobil.
Aberdeen-headquartered Stena Drilling has struck oil for ExxonMobil and its partners at its Hammerhead-1 well off the coast of Guyana.
ExxonMobil increased its estimate for a giant offshore oil discovery in Guyana by 25 percent yesterday, but it may just be the beginning.
US oil major ExxonMobil has lifted its estimate for the Stabroek Block offshore Guyana to more than 4 billion barrels of oil equivalent (boe).
ExxonMobil has awarded SBM Offshore contracts to carry out front end engineering work on a second floating production vessel for the Liza development off Guyana.
ExxonMobil said today that development drilling had kicked off on the Liza Phase 1 development offshore Guyana.
Guyana's story shares many similarities with the story of the ugly duckling. One of the poorest countries in South America, it has historically been entirely dependent on oil imports. In the past three years though, Guyana has sprung up as one of the hottest oil spots in the region, with ExxonMobil alone accounting for seven hydrocarbon discoveries in one single exploration block, Stabroek. However, the pace of discoveries will only highlight the deficiencies of the Guyana's political system, and there remains a serious risk that these world-class finds might be jeopardized by politics, either by means of renegotiating commercial terms or by bringing legislative powers to a painful impasse. By anybody's yardstick, the achievements of ExxonMobil and its partners (Hess, CNOOC) in the Guyanese offshore block of Stabroek (6.6 million acres or 27 000km2) have surpassed expectations. Almost every exploration well adds new barrels to the already hefty 4 billion barrels of recoverable reserves found in the area, a trend that is bound to continue over the next months. So far only one exploratory well turned out to be dry (Skipjack-1), whilst the following discoveries were made:
Eco Atlantic Oil & Gas said today that the Orinduik block offshore Guyana could contain more than 1billion barrels of oil.