Fugro has clinched a contract with Malaysian oil firm Petronas for positioning services for an exploration programme in the Guyana-Suriname Basin.
Guyana is the world’s most exciting frontier oil and gas exploration area. There’s a lot of oil, it’s good quality and it’s relatively cheap to produce. It has attracted a host of major players, including Hess, CNOOC, Total, Repsol, Qatar Petroleum, Tullow and, above all, ExxonMobil.
Petronas has made a first discovery offshore Suriname, in Block 52, at the Sloanea-1 exploration well.
Oil companies are on track to discover 10 billion barrels this year, despite the coronavirus pandemic temporarily halting exploration activity this spring, according to Rystad Energy.
The Tanager 1 well is a non-commercial discovery, on a standalone basis.
Dutch shipbuilder SBM Offshore has seen underlying revenues increase by 16% thanks to major orders for FPSO vessels in Guyana.
TechnipFMC enjoyed its strongest quarter of the year for new orders in the three months ended September 30, booking in $2.2 billion of new deals.
US oil major ExxonMobil has made a final investment decision to develop the $9 billion, 600 million barrel Payara field off Guyana.
Few companies are paying down debt while staying bullish on exploration plans, but Africa Oil is an exception.
ExxonMobil has announced another oil discovery off the coast of drilling hotspot Guyana, at its Redtail well.
Aberdeen & Grampian Chamber of Commerce to shine light on business opportunities between Scotland and Guyana
North-east business leaders will explore the "wealth of new business opportunities" available in Guyana during an industry event next month.
Aberdeen reaffirms links with Guyana as country prepares to make ‘great strides’ in oil and gas post-election
Scores of oil and gas representatives met virtually yesterday to discuss the opportunities available to supply chain companies in post-election Guyana.
Plans are gathering pace for a digital business event which will highlight opportunities to link businesses in the North East of Scotland with a newcomer on the list of oil producing countries.
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.