Saipem lands Exxon Guyana deal worth up to $1.5bn
Saipem (BIT: SPM) has landed a contract worth up to $1.5 billion with Exxon Mobil for work on its newly-sanctioned Whiptail project off Guyana.
Guyana
Exxon, Cnooc merge Guyana arbitration claims against Chevron
Exxon Mobil and Cnooc merged arbitration claims against Chevron’s proposed takeover of Hess that would allow the US oil supermajor to enter Guyana’s Stabroek Block.
Hess flags possible delay for Chevron deal as Exxon steps in
Hess Corp. (NYSE:HES) signaled its $53 billion agreement to be bought by Chevron Corp. may be delayed after Exxon Mobil Corp. filed for arbitration over the deal to preserve its rights to a massive oil discovery off Guyana.
Exxon plays hardball with Chevron to hoard Guyana’s oil riches
It’s rare for disputes between any of the world’s supermajor oil companies to spill out in public. It’s even rarer that one could end up costing $53 billion.
Chevron, Hess shares slip as Exxon considers bid to block Guyana deal
Shares of Chevron and Hess slipped after Exxon Mobil said it’s considering a move that could break up the companies’ $53 billion merger and increase its share of Guyana’s giant offshore oil reserves.
Guyana aims to pick refinery builder this quarter
Once the government has made a decision, the “top-ranked contender will undertake an Environmental and Social Impact Assessment [ESIA] at Crab Island for a facility designed to process at least 30,000 bpd,” Singh said.
UK warship in Guyana sparks Venezuelan drills
Venezuelan Foreign Minister Yvan Gil said his country "categorically rejects the arrival” of HMS Trent. This, he said, was “an act of hostile provocation and a violation of the recent Argyle Declaration".
Overcoming the curse of Big Oil
A worrying aspect of the global energy transition now gathering pace is how impoverished countries with large oil and gas discoveries react to wealthy nation rhetoric telling them that they should kiss the chance of making $billions goodbye before they’ve even started harvesting the resource.
UK warns of security situation in Guyana
The president has given companies operating in Essequibo three months to withdraw. ExxonMobil's Stabroek block is at least partly within the Essequibo marine territory.
Saipem wins deepwater pipe work in Guyana, Brazil
The company said it would carry out work with its FDS2, Constellation and Castorone vessels. It will carry out work from its Port of Georgetown base.
Exxon starts up third Guyana FPSO, on track to double production
“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand.”
Guyana seeks gas investors to unlock additional liquids
These low-liquid yield finds trap a “large proportion” of the discovered oil. These resources “will not be able to be developed and monetised unless infrastructure solutions for the evacuation of gas are put in place in tandem with the associated gas that is being recycled today in the current production operations”.
Guyana hits another “significant discovery” at Stabroek
Lancetfish-2 found around 20 metres of net oil pay in a new interval, the government said.
IEA tips winners and losers in future oil flows
Based on the IEA’s STEPS baseline scenario, Guyana will increase production to around 2mn bpd by the mid 2030s. Under the more conservative APS scenario, the IEA sees Guyana reaching 1.3mn bpd by 2035.
Exxon awards Whiptail FEED to SBM
The builder said the FEED contract would provide an initial release of funds and would also commit a Fast4Ward hull for Whiptail.
Tullow Sells of its stake in Orinduik licence to Eco
Tullow Oil has announced the sale of its total interest in Tullow Guyana B.V. which includes its 60% operated stake in the Orinduik licence.
CGX share price slides despite Guyana success
Drilling costs have been an issue at the Wei well. In June, CGX reported these had risen to $190-195mn. Before drilling, the companies had predicted $130-140mn.
‘Surge in exploration’ will prompt a 20% uptick in offshore spending says SLB
SLB’s (NYSE: SLB) chief executive has told the JP Morgan Energy Power and Renewable Conference that offshore spending will increase by 20% in 2023.
SBM wins $3bn FPSO maintenance contract in Guyana
SBM said it would operate the units via an Integrated Operation Model. This will involve seconding ExxonMobil Guyana employees to some onshore and offshore positions.
Exxon greenlights fifth project offshore Guyana
Six FPSOs could be producing on Stabroek by the end of 2027, with capacity of more than 1.2 million bpd. The number of FPSOs could rise to 10, aiming to produce the more than 11 billion barrels.
Keppel delivers Guyana’s third FPSO for ExxonMobil-led consortium
The Prosperity FPSO will be the third of four FPSOs Keppel is undertaking for deployment in Guyana.
Westwood tips Africa, Latin America for high-impact hopes in 2023
Explorers are “taking a measured view and holding budgets and activity steady whilst trying to improve overall exploration efficiency”, Westwood said.
Exxon aims for low-cost growth in five-year plan
ExxonMobil has set out plans to focus on high return, low cost projects in the Permian Basin, Guyana, Brazil and LNG internationally.
Guyana to stick 14 oil blocks up for auction
A total of 14 oil blocks offshore Guyana are to be put up for auction next year, marking the country’s first competitive licensing round.
Exxon lands two more off Guyana
ExxonMobil has scored another two finds offshore Guyana its incredibly prolific Stabroek block.