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Montevideo, November 22nd 2017 - 11:03 UTC

Tag: Stabroek Block Guyana

  • Sunday, October 8th 2017 - 07:52 UTC

    Guyana en route to become a top oil producer in Latin America

    Turbot-1 was drilled to 5,622 m in 1,802 m of water on Sept. 29, 2017. It is located in the southeastern portion of the 26,800-sq km Stabroek block

    Exxon Mobil Corp. has discovered more oil on the Staborek block offshore Guyana, northeast South America, with the Turbot-1 well. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Turbot-1 well on Aug. 14, 2017, and encountered a reservoir of 23 m of high-quality, oil-bearing sandstone in the primary objective.

  • Friday, July 28th 2017 - 06:00 UTC

    Exxon puts Guyana on the world oil map with another major discovery

    The result increases the estimated recoverable resources in Guyana’s Stabroek Block formation to about 2.25 to 2.75 billion barrels

    Exxon Mobil said that it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total discovery to approximately 500 million barrels oil equivalent. The result increases the estimated recoverable resources in Guyana’s Stabroek Block formation to about 2.25 to 2.75 billion barrels. By way of comparison, the much-heralded Thunder Horse find in the Gulf of Mexico has reserves of about one billion barrels.

  • Thursday, April 6th 2017 - 12:35 UTC

    ExxonMobil strikes oil again offshore Guyana, the second this year

    Esso Exploration and Production Guyana Ltd. commenced drilling the Snoek well on Feb 22, and was safely drilled to 5,175 meters in 1,563 meters of water 18 March

    ExxonMobil’s oil finding streaking offshore Guyana is continuing, with the company reporting yesterday that it has struck oil again. It is Exxon’s third such find in the Stabroek Block and the second this year, coming on the heels of oil discoveries in Liza in 2015 and Payara in January.

  • Tuesday, August 4th 2015 - 05:49 UTC

    ExxonMobil rig concludes exploration offshore Guyana: resumes seismic studies

    Minister Trotman said the Deepwater Champion left the disputed area because its exploratory work was done, having found a major deposit of crude oil.

    An ExxonMobil rig that re-ignited a maritime boundary dispute between Guyana and Venezuela has now left the area, a Guyanese official said on Monday, but denying it was because of Venezuelan pressure.

  • Friday, July 24th 2015 - 09:38 UTC

    ExxonMobil find in Guyana's waters could be worth 12 times the country's GDP

    Liza-1 was drilled in the Stabroek Block and encountered more than 295 feet of “high-quality oil-bearing sandstone reservoirs.”

    The Exxon Mobil oil find in Guyana, which has triggered a strong reaction from neighboring Venezuela could be worth 12 times more than that nation’s GDP. In effect according to a Guyanese minister, the find at Liza-1well in offshore Guyana could be worth about $40 billion at current international crude prices.

  • Tuesday, July 7th 2015 - 07:40 UTC

    Maduro recalls ambassador in Guyana: “Venezuela in under new forms of assault and aggression”

    “Venezuela is coming under new forms of assault and aggression,” said Maduro. “This is a grave, dangerous situation that we must combat with national unity.”

    President Nicolas Maduro announced Monday that he was recalling Venezuela's ambassador in neighboring Guyana for consultation amid mounting tensions over their disputed border. During an address to parliament, Maduro said that he also is initiating a comprehensive review of relations with much smaller Guyana and reducing the size of Venezuela's embassy there.

  • Tuesday, June 30th 2015 - 05:42 UTC

    Commonwealth's 53-member states support Guyana's sovereignty and territorial integrity

    “Commonwealth stands as one and speaks with one voice in our commitment to Guyana’s sovereignty and territorial integrity” said Kamalesh Sharma

    The 53 member states of the Commonwealth have pledged to support Guyana in the ongoing maritime border dispute with Venezuela. Commonwealth Secretary General Kamalesh Sharma, sought to assure the government of the groupings commitment on his arrival to Jamaica.

  • Thursday, June 25th 2015 - 07:22 UTC

    Guyana gives assurances to Exxon to keep exploring for oil, despite Venezuela's threats

    Granger said Exxon has nothing to fear since it is operating in Guyana’s exclusive economic zone and it has the weight of international law behind it

    Venezuela’s recent claim on Guyana’s maritime territory is a “legal absurdity” and US oil firm ExxonMobil will continue to work as scheduled, President David Granger has said. Labeling Caracas’ claim as the worst intrusion the country has ever had on its sovereignty, the President said his government has made its position on the claim by Venezuela clear to the oil company.

  • Monday, June 15th 2015 - 04:53 UTC

    UK High Commissioner dismisses Venezuela's (oily) claim on Guyana's maritime front

     “UK is clear that the Venezuela-Guyana land border is, and should be, as agreed under the 1899 Arbitration Agreement”, said Commissioner Quinn

    British High Commissioner to Guyana, James Gregory Quinn has dismissed Venezuela’s most recent claim on Guyana’s oil rich Essequibo Coast, stating that it lacks solid grounds. Venezuela’s President Nicholas Maduro on May 27 signed a decree that now claims an entire portion of Guyana’s territory into the Atlantic Ocean and includes the Stabroek Block where a significant portion of oil was recently discovered by US oil giant, ExxonMobil.

  • Wednesday, June 10th 2015 - 21:16 UTC

    Mercosur and Unasur member Venezuela bullying neighboring Guyana

     Maduro issued a presidential decree claiming more than two-thirds of Guyana territory including the maritime area where ExxonMobil recently found oil

    Mercosur and Unasur member Venezuela is again bullying neighboring Guyana by issuing a presidential decree claiming more than two-thirds of the former British colony territory including the maritime area where ExxonMobil recently found a significant oil deposit.