ExxonMobil expects Brazil and Guyana will be key drivers for the company’s growth ambitions in the future, as the US super-major looks to concentrate the bulk of exploration and production development activities in the two South American nations, apparently leaving aside the shale deposits in Argentina.
Noble Corporation plc's ultra-deepwater drillship Noble Tom Madden has received about 6.5 years of additional contract term under the commercial enabling agreement (CEA) with ExxonMobil for work offshore Guyana.
By Amy Myers Jaffe (*) – This year was supposed to bring great things for Guyana. ExxonMobil discovered massive oil deposits off the South American country’s Caribbean coast in 2015, and Guyana sold its first cargo of crude oil this February. As production ramps up, its first stage offshore wells were projected to produce 750,000 barrels a day by 2025, tripling the size of Guyana's economy, from US$ 3,4 billion to US$ 13 Billion.
Mike Pompeo on Thursday became the first US secretary of state to visit Guyana and Suriname as the discovery of oil fuels a sudden new interest in the small South American nations.
Guyana’s crude production has reached 100,000 b/d, 25% up on June, energy department director Mark Bynoe revealed even as the country continues to see an announcement on the 2 March, 2020 election results pushed further and further into the year.
ExxonMobil today announced its 16 discovery in the Stabroek Block, located off the Guyanese coastline. The Texas-based company announced that it encountered 29 meters of high-quality oil-bearing sandstone at the Uaru well.
Brazil's auction of drilling rights to four deep-sea oil fields raised a disappointing US$17 billion on Wednesday, officials said, well short of expectations for the highly-anticipated mega sale.
Hess Corp's first oil in Guyana, where it is a partner in the crude-rich ExxonMobil-led Stabroek offshore block, will be in December, ahead of the previously stated Q1 2020 date, a top company executive said on Friday.
Brazil’s newest oil auction is attracting some of the world’s biggest oil majors such as BP, Chevron, CNOOC, ExxonMobil, and Shell, the Brazilian government said on Monday, according to Bloomberg.
Major oil companies have approved US$50 billion of projects since last year that will not be economically viable if governments implement the Paris Agreement on climate change, think-tank Carbon Tracker said in a report published on Friday.