Category Archives: Oil Exploration

Tullow Oil: Jethro-1 oil find large enough to stand alone – Eco Atlantic CEO

The Jethro-1 discovery that was made on the Orinduik Block last week by Tullow Oil and its partners is enormous enough to be a standalone production well. This was recently noted by Chief Executive Officer (CEO) of Eco Atlantic, Gil Holzman during an interview with Proactive Investors, a leading international source of financial analysis and share price data.

Holzman noted that the quality and porosity of the Jethro sandstone certainly boasts the confidence of investors as it is soaked entirely in oil. Further to this, Holzman said that the discovery gives the technical team more confidence about the channel that leads from Jehtro which appears to be large too.      Continue reading

OIL: Tullow to shift operations from Trinidad after striking oil in Guyana

Following its recent discovery of oil in commercial quantities offshore Guyana, the United Kingdom-headquartered Tullow Oil will shift operations from its Trinidad base to local shores and plans for its first shore base here are in the pipeline.

“We don’t have a local shore base at the moment. [We] were running things from Trinidad but the plan is to use a shore base in Guyana in 2020,” Tullow’s Head of Communications George Cazenove told Stabroek News last week. He added that the location of the local facility “has not yet been decided.”            Continue reading

Guyana: ExxonMobil relocates local offices in Georgetown

– 19 August 2019

ExxonMobil’s old headquarters

ExxonMobil has relocated its local offices to the seven-storey Duke Street, Kingston building it has rented from businessman Rizwan Khan.

Stabroek News understands that the oil major completed the move earlier this month and will house all its local offices there until the completion of its Ogle headquarters.

SEE NEW OFFICE BUILDING BELOW:      Continue reading

Guyana and Britain deny Russia claim of military base construction in Essequibo

  • Russia says Essequibo island base is aimed to destabilise Venezuela

Several Essequibo Islands

Guyana and Britain on Friday rubbished Russia’s claim that a British military base was being constructed on one of the Essequibo islands to train Venezuelan refugees to destabilise the Nicolás Maduro-led government.

The Foreign Ministry here called on Russia to withdraw the statement by Russian Foreign Ministry spokesperson Maria Vladimirovna Zakharova, during a briefing on Thursday on the sidelines of the international youth educational forum “Eurasia Global” in the Russian city of Orenburg.        Continue reading

Bloomberg places spotlight on Guyana’s unpreparedness for oil wealth

OIL: Greenidge, WPA executive members clash on direct cash transfers; AFC supports it

David Hinds (left) and Carl Greenidge.

Former Foreign Minister Carl Greenidge has confirmed that the Guyana government does not favour direct cash transfers into the hands of ordinary Guyanese on the grounds that it will encourage unemployment, a position that was roundly rejected by Chairman of the Buxton First of August Movement (FAM-Buxton), Professor David Hinds.        Continue reading

Guyana: Tullow strikes oil in Orinduik Block -Anticipates over 100 million barrels

– Discovery increases share price by 20%

Click to Enlarge

One of the United Kingdom’s leading exploration and production companies, Tullow Oil, has finally struck black gold in the Orinduik Block. In fact, Tullow’s Chief Executive, Paul McDade noted the discovery was made at the Jethro-1 well which could hold more than 100 million barrels of recoverable oil.

According to a Reuters news article, Tullow is also smiling from ear to ear as its share price jumped by 20 percent yesterday following the discovery.            Continue reading

I will donate to Haitians who want to settle in Guyana – By Freddie Kissoon

My disgust was combined with anger when I read the negative sentiments that they are coming to take “our economic greatness” and since they do not speak English and are not from our culture, they will contaminate it.
My vehement and emotional objection was two-fold. Such perverse thoughts should never come from the pen and lips of a Guyanese. First, we are a wandering people, journeying to all parts of the world in search of that very happiness. We have taken winged impulse since the fifties. PNC government or PPP government, the journey has never stopped. A Guyanese should never frown on poorer souls coming to this country to start a better life.  Continue reading

Stabroek Block’s 5.5B barrels reserve an understatement-Hess CEO

Hess Corporation which holds a 30 percent stake in the Stabroek Block believes that its shareholders and industry stakeholders are yet to see the full potential of the world-class offshore concession.

Hess  CEO, John Hess

In fact, the firm’s Chief Executive Officer (CEO), John Hess, recently noted that the estimate of 5.5B barrels of oil equivalent reserves is on the low side.

Speaking at the Bernstein 35th Annual Strategic Decisions Conference that was held a few weeks ago in New York, Hess said that the 5.5B estimate really ties to 10 or 11 discoveries and not 12 or 13 which were made.          Continue reading

Guyana: Oil and Gas: We Must Use Oil to Help the People– Says Dr. Mangal

OIL and GAS – featuring Dr Jan Mangal – Commentary By Dr Dhanpaul Narine

Dr. Jan Mangal

First Oil will find a Guyana that is divided right down the middle. After 53 years of independence, and various governments, the country is no closer to unity as many would like.

The mere mention of the words ‘general elections’ is good enough to harden attitudes and to send the racial groups into their respective camps to widen the divisions. Guyana is a country in which racism continues to cast its pernicious shadow over the body politic and no amount of sweet-talk from the politicians can paper over the deep divide.

READ MORE: OIL and Gas – featuring Dr. Jan Mangal

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