Aberdeen-headquartered Stena Drilling is expected to commence operations off the coast of Guyana “imminently” after its vessel arrived on location.
The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
Ocean Infinity, the world-leading marine robotics company, is pleased to announce it has successfully completed its recent project for ExxonMobil, within the Stabroek block offshore Guyana.
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
Exxon Mobil Corp. resumed drilling in Guyana last month, underscoring its dedication to the offshore hotspot despite the oil price crash and a messy turn in local politics.
Maersk Drillng has won a £16.6m ($20.4m) contract with Petronas off Suriname.
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
Africa Oil has received its first dividend from its recently acquired Nigerian assets and has directed the cash to pay down a loan.
ExxonMobil has increased its estimated recoverable resources in Guyana by two billion barrels after a hot streak of discoveries at the prolific Stabroek block.
The move from “Big Oil to Big Energy” is under way as the energy transition puts extra pressure on explorers, an analyst has said.
The world continues to need investment in the oil and gas sector, according to most forecasts, but this is an increasingly difficult pitch for investors given concerns over carbon emissions.
Tullow expects to report pre-tax impairments and exploration write-offs of around $1.5 billion for 2019, as a result of a lower oil price forecast and a reduction in 2P reserves at the TEN project, offshore Ghana.
Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many E&P boardrooms in 2019, but the impact on exploration drilling is not yet apparent.
Tullow Oil Plc discovered light oil at its Carapa-1 well in Guyana, but the reservoir was smaller than the troubled company had expected prior to drilling. Shares fell as much as 20%.
US energy giant ExxonMobil has released a video celebrating first oil from the Liza field off Guyana.
ExxonMobil has announced a new discovery off Guyana, adding to previous estimates of 6billion barrels of recoverable oil equivalent.
Exxon Mobil Corp. and its partners lifted the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues.
When analysing Guyana’s production sharing agreements (PSAs), it is important not to be misled by statements comparing Guyana’s 2% royalty with higher royalties in other countries (set on average at about 10%-15%).
Italian oilfield services firm Saipem has won a subsea contract in Guyana, as well as additional work in regions including the North Sea, worth £684.6million.
Exxon Mobil and Hess Corp. said they are moving up the start date for first oil production in Guyana to December instead of the previous timeline slated for early 2020.
SBM Offshore has completed financing of $1.14billion (£886m) to pay for the vessel which will serve ExxonMobil’s giant Liza field off Guyana.
Total’s investor presentation walked a fine line between commitments to new projects and steps to secure the confidence of investors.
Tullow Oil said today that its Joe-1 exploration well had opened a new "upper tertiary" oil play in the Guyana basin.
Guyana will make mistakes on the road to becoming an oil and gas producing nation – but none will be of the same magnitude as Brexit.