Tag: Stabroek Block Guyana

• Tuesday, April 23rd 2024 - 06:32 UTC

  Namibia en route to becoming another Guyana oil discovery success story

  

  Portugal's oil company Galp Energia shares skyrocketed on Monday after the company announced that the first phase of its exploration in the Mopane field in offshore Namibia could contain some 10 billion barrels of oil.

• Friday, December 16th 2022 - 12:51 UTC

  Italian contractor to build oil offshore structure, 2,000 meters deep in Guyana's profitable Stabroek block

  

  Saipem, the Italian energy industry services company, has secured offshore oil and gas field construction contracts in Guyana and Egypt worth some US$ 1.2 billion in total

• Friday, April 26th 2019 - 05:59 UTC

  Guyana oil jackpot: ExxonMobil has made its 13th discovery offshore

  

  The find was made at the Yellowtail-1 Well and represents the third discovery for this year and the fifth in the Turbot area, where ExxonMobil is evaluating its potential as an additional development hub.

• Tuesday, July 31st 2018 - 08:36 UTC

  Guyana top country in discovered oil resources during 2018

  

  Discovered resources globally of conventional oil and natural gas surpassed 4.5 billion barrels of oil equivalent in the first half of 2018, making for an exciting recovery with Guyana leading the way, according to analysis by Rystad Energy. Average monthly discovered volumes are 826 million barrels of oil equivalent. This is a 30% increase from 2017.

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

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

  

  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

  

  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

  

  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

  

  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

  

  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”

  

  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.