The program aims to advance Guyana’s sustainable economy through investments in education, research, sustainable management, and conservation of the country’s vast ecosystems. Proforma Safety International announced a partnership with the Guyanese agency Lomak Energy Services to support the oil and gas sector with safety consulting services. Column: Guyana Is About To Open Up Pandora's Barrel Expats hold the key to whether its big offshore oil deposits bring riches—or ruin.
The green light comes 4 years after the privately-held firm filed its development and production plan. Liberty Island would consist of gravel, stretch 9 acres, and sit just a few miles offshore. The US supermajor continues to evolve its global strategy by pulling out of once-promising Russian partnerships and adding to its offshore Guyana oil drilling bounty. Statoil has submitted a long-awaited development plan for what will become Norway’s northernmost development. It is one of the most hostile environments in the world, with some of the most remote locations, the toughest logistics challenges, and the largest gaps in infrastructure on the planet.
ExxonMobil continues to make major oil discoveries offshore Guyana, a country that today produces no oil. The just-announced Turbot-1 well is the company’s fifth discovery in Guyana’s waters in a little more than 2 years. Applying an economic analysis for Trinidad and Tobago's deepwater gas fiscal regime, results were calculated for various price scenarios to identify a workable strategy for development of offshore resources.
The chief upstream strategist of IHS Markit said in a recent presentation that oil exploration must improve its ability to deliver value and better communicate that value to the financial community. New ways of thinking about exploration opportunities are needed. Total just strengthened its presence in United States deepwater plays through an acquisition from Samson that gives the French company a 12.5% interest in blocks covering the Anchor discovery, one of the most significant recent finds in the Gulf of Mexico. ExxonMobil continues to make major oil discoveries offshore Guyana, a country that today produces no oil. The just-announced Turbot-1 well is the company’s fifth discovery in Guyana’s waters in a little more than 2 years.
Noble’s first row of wells in its massive Mustang project is helping increase the operator’s DJ Basin output, and similar results are soon expected in the Delaware Basin. Devon Energy will be getting simpler and smaller by selling two no-growth assets—gas acreage in the Barnett Shale in Texas and oil sand operations in Canada. Its future is staked on growing oil production in the Permian’s Delaware Basin and three other unconventional oil plays. The Oklahoma City independent has a new-look portfolio and new operational and financial priorities. And now it has enlisted an energy research firm to leverage advanced analytics and machine learning to help get the most out of its assets.
This paper shares experience gained in the Ashalchinskoye heavy-oil field with a two-wellhead SAGD modification. As a result of a pilot for this technology in Russia, the accumulated production of three pairs of these wells is greater than 200,000 tons. This paper describes a case study of the Chonskaya group of fields to demonstrate an approach to the integration of time-domain-electromagnetic (TDEM) electrical and seismic data when building a geological model for improving reservoir-property and -saturation prediction. The US has “likely surpassed” Russia as the world’s largest oil producer, according to a US Energy Information Administration report. The US supermajor continues to evolve its global strategy by pulling out of once-promising Russian partnerships and adding to its offshore Guyana oil drilling bounty.
Financially healthier than in years past, operators are prepared to stave off the negative impacts of volatile oil markets in 2019 and advance their exploration and development programs. Falling costs and breakeven prices, increased operational efficiencies, and favorable government policy are at the heart of a potential short-term boon in Gulf of Mexico production. With portfolios that in some cases look dramatically different from a few years ago, the majors now have the ability to think about long-term upstream growth through deal making. With their newly refined portfolios, operators are looking toward growth in the coming years but will remain cautious given ever-changing industry economics. Projections of future production in the Permian Basin may came up short because new wells drilled near older ones are likely to yield less.
This paper discusses studies conducted on two California offshore fields that may be abandoned in the near future. These studies examined the feasibility of repurposing these fields for offshore gas storage by using their reservoir voidage and existing pipeline facilities. The financial effects of the downturn are set to last at least a decade—which puts the industry almost at the halfway point. This is according to a new report that says the FPSO market is the most “unscathed” of all the service segments. Industry confidence is on the rise, and so is capital spending, according to DNV’s 2019 annual outlook.
The major’s dominant showing in US Gulf of Mexico Lease Sale 252 propelled another rise in bids and dollars for the biannual regionwide auction. Funding for startups in the upstream industry does not always guarantee that oil and gas companies will want to test the new technology. A new venture and accelerator model hopes to change this through guaranteed pilots. The Pluma-1 discovery could turn the southeast portion of Stabroek Block off Guyana "into a major new development area," the company says. ExxonMobil and Hess led the way in the most active regionwide US gulf lease sale thus far.
Yellowtail-1 is the fifth discovery in the Turbot area, where ExxonMobil plans another Stabroek Block development hub. The Pluma-1 discovery could turn the southeast portion of Stabroek Block off Guyana "into a major new development area," the company says. Already poised to produce more than 500,000 B/D offshore Guyana, ExxonMobil added yet another discovery to its bounty in the emerging regional oil powerhouse, meaning a fourth development phase could be in order. ExxonMobil continues to make major oil discoveries offshore Guyana, a country that today produces no oil. The just-announced Turbot-1 well is the company’s fifth discovery in Guyana’s waters in a little more than 2 years.