Category Archives: Oil Exploration

Guyana: Will its oil boom benefit the people? | The Stream – Video

August 13, 2018 – 4:47 am

Guyana: Will its oil boom benefit the people? | The Stream – Video

Al Jazeera English

Streamed live on Jul 30, 2018
Oil companies have identified massive offshore reserves
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Guyana’s proven oil reserves now 4 billion barrels; target now 750,000 barrels daily

July 23, 2018 – 10:37 am

Guyana’s proven oil-equivalent reserves now 4 billion barrels; revised production target now 750,000 barrels daily

Posted by: Denis Chabrol in – Demerara Waves – July 23, 2018

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said Monday it has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development and consideration of two additional phases.

The increase follows completion of testing at the Liza-5 appraisal well, a discovery at Ranger, incorporation of the eighth discovery, Longtail, into the Turbot area evaluation and completion of the Pacora discovery evaluation. The previous recoverable resource estimate was 3.2 billion oil-equivalent barrels.       Continue reading →

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The $20 Billion Question for Guyana – By Clifford Krauss – New York Times

July 22, 2018 – 6:07 am

The $20 Billion Question for Guyana

This largely underdeveloped country on South America’s northern Atlantic coast is the unlikely setting for the world’s next big oil boom. But is it ready to handle the riches? ….READ MORE

https://www.nytimes.com/2018/07/20/business/energy-environment/the-20-billion-question-for-guyana.htm

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GUYANA SPEAKS: London UK – “OIL” by Chris Ram on July 13, 2018; + “Emancipation and Beyond” – July 29, 2018

July 9, 2018 – 4:36 pm

 GUYANA SPEAKS – Featuring CHRIS RAM – 13 July 2018. London. England.

Chris Ram, who was one of our speakers on What will oil do for Guyana? in November 2017, has just received a certificate for the Masters of Laws in Oil and Gas from Reading University and is currently in the UK.  Guyana SPEAKS will therefore be holding a one-off special in which Chris will talk for 30 mins on “First Oil in 2020: Are We Ready?” followed by a Q&A session.  If you are able to attend, please RSVP so that we have an idea of numbers. The event will be held on Friday, 13th July (6.30pm for a 7pm start) at the Classic.       Continue reading →

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Guyana: The Country That Wasn’t Ready to Win the Lottery

June 21, 2018 – 12:31 am

The Country That Wasn’t Ready to Win the Lottery

Oil rigs and production

Guyana just discovered it owns enough oil to solve all its problems — and cause even bigger ones.

Micah Maidenberg, Manuela Andreoni  | Foreign Policy

GEORGETOWN, Guyana — Amid the narrow streets and rusty docks of Georgetown, the quiet capital of Guyana, the first signs of an oil boom are visible. Steel pipe destined for deep-water projects can be seen stacked on wharves near the city center. Over at the Marriott, the country’s only five-star hotel, the bar fills up throughout the day with Brazilian oil workers and American contractors. Boats embark from a new depot on the Demerara River, ferrying supplies to oil projects hundreds of miles from the coast.

Driving much of this activity is ExxonMobil. Three years ago, the company’s Guyana subsidiary found crude in sandstone reservoirs about 120 miles offshore, the first of a string of offshore discoveries that have raised the country’s reserves to an estimated 3.2 billion barrels from nothing at all. Decades of dry wells had made such a cache impossible to imagine.     Continue reading →

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ExxonMobil confirms 8th oil discovery offshore Guyana at the Longtail-1 well

June 21, 2018 – 12:20 am

ExxonMobil confirms 8th oil discovery offshore Guyana at the Longtail-1 well

Stenna Carron drillship

…company to add another exploration vessel offshore Guyana 

ExxonMobil in a statement on Wednesday said it made its eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block.

According to the US based oil giant, the Stena Carron drillship commenced drilling on May 25, 2018 and the Longtail-1 well was safely drilled to 18,057 feet (5,504 meters) depth in 6,365 feet (1,940 meters) of water, where they subsequently encountered approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir.   Continue reading →

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Guyana: ExxonMobil reconfirms March 2020 for first barrel of oil production

June 13, 2018 – 1:26 am

Guyana: ExxonMobil reconfirms March 2020 for first barrel of oil production

Vice President of ExxonMobil Development Company, Lisa Walters presents a model oil barrel to Minister of Natural Resources, Raphael Trotman.

ExxonMobil on Tuesday June 12, 2018 reconfirmed that Guyana will pump up its first barrel of oil in March 2020, even as the Guyana government continued to fend off criticisms of the 2016 production sharing agreement.

Vice President of ExxonMobil Development Company, Lisa Walters said work was well advanced by several companies in Singapore, Brazil and the United States Gulf Coast to ensure that commercial oil production begins in less than two years. “We are on track for first oil in March of 2020,” she said. “In just a little over a year and a half, the Liza Destiny will deliver its first oil to its first tanker offshore,” she added.     Continue reading →

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Guyana: Looking at the impact of ExxonMobil – By Adam Harris

June 11, 2018 – 9:45 am

Looking at the impact of ExxonMobil – By Adam Harris

Guyana has been a poor country for a long time, although to look at and to talk to the people, you would believe that Guyanese are like everyone else. Indeed, we find money to enjoy ourselves and we dress to emulate those who live in the affluent countries.

There are those of us who feel that life should be better if only we could get better pay. We seek to work with companies that pay better than others because we value our labour.

However, we still have the problem of people refusing to take certain jobs regardless of their qualification. It goes without saying that many are not qualified for the jobs they want, but to them that is not important.    Continue reading →

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Guyanese Campaigners Mount Legal Challenge Against Three Oil Giants

March 28, 2018 – 8:42 am

Guyanese Campaigners Mount Legal Challenge Against Three Oil Giants – Exxon Mobil, Hess Corporation and Nexen

Crowdfunded case claims offshore oil licences were granted illegally by the Guyanese government

Sandra Laville | The Guardian UK

Three major oil companies preparing to drill off the shores of Guyana, where a string of discoveries have sparked a rush for crude, are being challenged by a group of citizens who say their dash for oil is illegal.    Continue reading →

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Italian Oil Company Interested In Drilling Offshore Guyana

March 28, 2018 – 8:35 am

MINISTER OF NATURAL RESOURCES RAPHAEL TROTMAN (CENTRE) WITH OFFICIALS FROM ITALIAN OIL COMPANY ENI.

Italian Oil Company Interested In Drilling Offshore Guyana

GEORGETOWN, Guyana, Tuesday March 27, 2018 – ENI, an Italian oil and gas exploration company could be the new kid on the block if the Guyana government gives it the go-ahead to carry out exploration offshore.   Continue reading →

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