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.
On this week’s episode, in association with Fasken, the team looks at the return of RockRose Energy founder Andrew Austin to the North Sea fold, after he sold up his former firm for nearly £250m earlier 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 chief executive Paul McDade and exploration director Angus McCoss have resigned with immediate effect as production expectations for 2020 and beyond have been slashed.
Uganda and Tanzania are pushing ahead with their plans for the East African Crude Oil Pipeline (EACOP) despite Total’s decision to put work on hold, following the breakdown of talks on the sale of Tullow Oil’s Ugandan stakes.
A $900 million (£740m) deal, under which Tullow Oil was to sell a major stake in its Ugandan projects to Total and CNOOC, has been scrapped as a result of wranglings with the government.
A trio of oil executives who hit the jackpot with a gas find off Mozambique have long believed they can repeat that success not far from their original discovery. Now financial backing from seasoned Africa explorer Tullow Oil Plc has given them the firepower to take another shot.