News
May 14, 2024
Venezuela’s armed forces have moved “substantial quantities” of personnel and equipment near the disputed, oil-rich Essequibo region that’s controlled by Guyana, a Washington-based think tank reports, potentially escalating tensions ahead of presidential elections.
News
May 10, 2024
Discussions of Guyana’s future as a regional—and global—powerhouse were at center stage in a discussion panel at OTC 2024. From the private sector to government involvement, the panel of speakers from ExxonMobil and the Guyanese government dove into the optic of Guyana’s “outsized role” to play in the global oil and gas industry, despite the country’s small geographic size.
News
May 09, 2024
The ExxonMobil-led Liza Unity FPSO project in the prolific Stabroek block offshore Guyana has reached peak production at 252,000 bpd. Exxon anticipates first oil production from their newest vessel, One Guyana, next year.
News
May 08, 2024
In a Monday panel at OTC 2024, several Petrobras representatives tackled the multi-layered operations in revitalization of the Campos basin offshore Brazil.
News
May 08, 2024
The REMOTE-CON notation demonstrates the vessel’s alignment with remote-control functions and signifies that the design and construction of the offshore asset are assessed against and adhere to the ABS Requirements for Autonomous and Remote Control Functions.
News
May 07, 2024
Earlier this year, using Nabors provided technology, Vista electrified the first drilling rig in Vaca Muerta, Nabors PACE® F24, which is entirely powered by renewable energy.
News
May 06, 2024
Located offshore Brazil in the Santos basin, Tupi is the country’s largest producing field, with an average volume of 850,000 bopd, accounting for 20% of the total produced in Brazil, according to Petrobras.
News
May 06, 2024
Exxon Mobil Corp. Chief Executive Officer Darren Woods foresees arbitration with Chevron Corp. over a premier asset offshore Guyana stretching into 2025 due to the importance of the case to both companies.
News
May 06, 2024
The FPSO Errea Wittu is expected to have a production capacity of 250,000 bopd, water injection capacity of 350,000 barrels of water per day, 540 MMcfd of gas production and a storage capacity of 2 MMbbl of oil.
News
May 03, 2024
Petroleo Brasileiro SA, as the state-run company is formally known, must speed up studies that will help it curb the amount of gas injected back into oil reservoirs to boost crude production, Silveira said in an interview. That will free up more gas for sale. Petrobras - and other oil majors - should also invest in new gas pipelines to increase domestic supplies, he said.
News
April 30, 2024
Petrobras' average production of oil, NGL, and natural gas in Q1 2024 reached 2.8 MMboed, an increase of 3.7% compared to last year. The evolution of production (ramp-ups) of the FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi, and Sepetiba are responsible for the increase, as well as beginning production from 19 new wells from complementary projects in the Campos and Santos basins offshore Brazil.
News
April 29, 2024
Chevron Corp. expects a resolution to a dispute with Exxon Mobil Corp. over a Guyana oil contract in coming months that would allow for the completion of the $53 billion acquisition of Hess Corp. this year.
News
April 29, 2024
Exxon is set to become the Permian’s biggest producer once it closes its $64 billion acquisition of Pioneer Natural Resources Co. while Chevron is spending $52 billion on Hess Corp. to gain a 30% share of Guyana’s prolific Stabroek Block.
News
April 26, 2024
erenco Brazil will implement an ambitious redevelopment plan to revitalize the assets, restart production to a target rate of 10,000-15,000 bopd and unlock over 50 MMstb of reserves.
News
April 26, 2024
In the past two years, TotalEnergies, Shell Plc and Galp Energia SGPS SA have made finds off the southwest coast of Africa that turned sparsely populated Namibia into a hotspot for exploration. While no field has yet been given the green light for development, hopes are high in the country that an economic boom similar to that seen in Guyana could be on the cards.
News
April 26, 2024
The new fields, Tomoporo and La Ceiba, contain more than 5 Bbbl of oil and are part of a venture in which Repsol holds a 40% stake and PDVSA holds the remainder.
News
April 25, 2024
Hess’ E&P net income was $997 million in Q1 2024, compared with $405 million in Q1 2023. Net production was 476,000 boed in Q1 2024, compared with 374,000 boed in the Q1 2023, primarily due to higher production in Guyana and the Bakken.
News
April 23, 2024
Recent oil and gas discoveries announced in regions continuing to these borders, especially in neighboring Guyana and Suriname, indicate significant oil production potential for the Brazilian Equatorial Margin.
News
April 22, 2024
Projects include oil platforms, maritime support vessels, cabotage vessels, and the sustainable disposal of units. Petrobras expects to create up to 100,000 jobs with this demand within the estimated project timeframe.
News
April 18, 2024
The FPSO Jaguar’s design is based on SBM Offshore’s Fast4Ward program that incorporates the company’s 7th new build, multi-purpose floater hull combined with several standardized topsides modules.
News
April 18, 2024
The exploration well started at a production rate of 5 MMcfd for 2 hours at a choke 29/128” and a THP of 2290 psi. The choke at the final rate was 36/128” and a THP of 2260 psi. The exploration well continued to produce at a rate of 12 MMcfd over 29 hours with a stabilized THP of 2260 psi.
