Guyana
News
April 03, 2024
The FPSO will have a topside designed to produce approximately 250,000 bpd and will have associated gas treatment capacity of 540 MMcfd, water injection capacity of 350,000 bpd and produced water capacity of 300,000 bpd.
News
March 29, 2024
The unified arbitration was approved after a March 26 application, according to a Hess letter to stockholders included in a Chevron regulatory filing on Thursday. Exxon and Beijing-based Cnooc, which own 45% and 25% of Stabroek, respectively, argue they have a right of first refusal over Hess’s stake in the block.
News
March 22, 2024
Exxon Mobil Corp. is convinced its interpretation of intent in a Guyanese oil contract signed a decade ago will prevail in a landmark arbitration case against Chevron Corp.
News
March 21, 2024
CNOOC will do whatever it takes to protect the interests of the firm and its shareholders by legal means, he said at a briefing in Hong Kong. Guyana’s Stabroek block is expected to yield as much as 1.2 MMbpd by 2027, Chief Financial Officer Wang Xin told the event.
News
March 19, 2024
Chevron held constructive talks with Exxon and Cnooc over the Stabroek block off Guyana several months ago as part its proposed $53 billion takeover of Hess, which owns 30% of the development, Wirth said at the CERAWeek by S&P Global conference in Houston Tuesday.
News
March 19, 2024
Exxon has accused Chevron of attempting to “circumvent” a contract that gives Woods’ company a right of first refusal over Hess’s 30% stake in Guyana’s Stabroek block. Chevron agreed to buy Hess for $53 billion last year, in large part to gain access to the Guyana project, operated and 45% owned by Exxon.
News
March 18, 2024
The Bluefin well encountered approximately 197 ft (60 m) of hydrocarbon-bearing sandstone and was drilled in 4,244 ft (1,294 m) of water, Exxon said in a statement. Bluefin joins the more than 30 oil discoveries in the Stabroek block since 2015, Exxon added.
News
March 07, 2024
The disclosure marks the first time either Hess or Chevron have said Exxon’s push to safeguard its preemption rights in Guyana could delay their merger, initially expected to close by the second half of this year.
News
March 06, 2024
Exxon filed for arbitration in the International Chamber of Commerce in Paris on Wednesday. Exxon, as 45% owner and operator of the Guyana project, believes it has a right of first refusal over any change of hands in Hess’ 30% stake and would consider matching Chevron’s valuation.
News
March 06, 2024
Hedge fund managers that wagered billions on Chevron Corp.’s October deal to buy Hess Corp. are sticking to their bets despite another roadblock that could potentially torpedo the acquisition.
News
March 05, 2024
PETRONAS will drill the Sloanea-2 appraisal well starting in April 2024. A production test will also be carried out. The drilling platform is now drilling the Fusaea-1 exploration well in Block 52 and already drilled the first part of the Sloanea-2 well in February.
News
March 04, 2024
Venezuela and Guyana have disputed the Essequibo region for nearly a century, but tensions escalated after the discovery of massive oil basins in recent years off Guyana’s coast. The country has seen an influx of investments by companies including Exxon Mobil Corp.
News
February 27, 2024
Chevron is adamant there’s “no possible scenario” in which Exxon or Cnooc could buy the stake and said in a statement that it remains fully committed to the Hess deal. But Exxon said it has a duty to its shareholders to explore the right of first refusal over the change of ownership of the Hess stake.
News
February 21, 2024
A gas-focused development is one of three options being weighed by Exxon for its seventh Guyana project, country manager Alistair Routledge said in an interview in Georgetown Wednesday. The other two are additional oil developments from existing and new discoveries, he said.
News
February 21, 2024
Guyana will restrict oil-related activities to south of that unverified border to avoid inflaming the situation, the official, Natural Resources Minister Vickram Bharrat, said in an interview.
News
February 20, 2024
Exxon is “very focused on executing our operations within our defined contract area,” upstream president Liam Mallon said in an interview with Bloomberg TV. The Texas oil giant now produces about 645,000 bpd from Guyanese waters, up from nothing five years ago.
News
February 19, 2024
Ali’s plans are in addition to a $1 billion gas-to-shore pipeline project for domestic power generation that is scheduled to be complete by the fourth quarter of this year, Ali said. The project will provide 50 MMcfdg in the first phase before ramping up to 120 Mmcfd.
News
February 14, 2024
DeepOcean will plan and execute a wide range of subsea activities, including subsea construction and jumper installations as well as subsea IMR work, at ExxonMobil Guyana’s operations at the Stabroek Block, located approximately 120 m offshore Guyana.
News
February 09, 2024
The seven wells Exxon plans to drill are at least 100 km (62 miles) away from Venezuela’s claimed territory, Routledge said. Five are in the south-east portion of the Stabroek Block, closer to Suriname, while two are in the central section, he said.
News
February 08, 2024
The oil giant said it will drill new wells west of the Liza discovery and close to Venezuelan territorial waters, Exxon Guyana President Alistair Routledge told Demerara Waves. The dispute is “not inhibiting that activity in our plans,” he said.
News
February 07, 2024
The oil giant will drill the exploration wells west of the Liza field, which is producing oil, and closer to the border with Venezuela, Exxon Guyana President Alistair Routledge told Demerara Waves. The dispute is “not inhibiting that activity in our plans,” he said.
