Category Archives: Oil Exploration

Guyana: Exxon announces 13th crude oil discovery in Stabroek Block

The Noble Madden Drillship

A recent discovery of high quality sandstone reservoir has taken Guyana’s estimated number of recoverable barrels of crude oil well over 5.5 billion. The discovery, in the Yellowtail-1 well, is the fifth and largest discovery in the Turbot area of the block.

Mike Cousins, senior vice president of ExxonMobil Exploration and New Ventures, said that the shared value of the Turbot area has grown, as successive discoveries in the area have been made. Exxon expects Turbot to become a major development hub.            Continue reading

Guyana: Oil Dorado: They are coming…are we prepared? – By Lincoln Lewis

Guyana’s New Immigrants …. are we prepared?

U.S. Diplomats Push for Business Climate Change in Guyana

 The Trump administration is all about forcing open overseas markets for U.S. businesses.

Guyana;s Oil Boom

With the oil giant ExxonMobil preparing to drill and export oil off the coast of Guyana, U.S. diplomats are working to empower U.S. businesses to develop industries in the small South American country, where an anticipated oil boom is expected to generate unprecedented profits.

According to the State Department’s 2018 Investment Climate Statement, Guyana is becoming an attractive location for international investors. Future drilling by ExxonMobil “would generate billions in revenue for the country and could potentially transform the social, political, and economic landscape,” the State Department reported.

Given the anticipated oil boom, many investors hope to ride a wave of oil and oil-related wealth to newfound riches. “Foreign investment is likely to greatly increase in the coming years,” U.S. Ambassador to Guyana Sarah-Ann Lynch recently commented. “Guyana has vast untapped resources, so the potential is enormous.”            Continue reading

NABI and T&T firm to build Exxon office at Ogle

NABI and T&T firm to build Exxon office at Ogle

NABI/KCL Oilfield Construction Services Guyana today said it has been awarded the contract to build the new office facilities of Esso Exploration and Production Guyana Limited (ExxonMobil Guyana) at Ogle, East Coast Demerara.

A release from the joint venture company said that the state-of-the-art Campus will be constructed on a green field 15-acre site comprising two buildings, associated infrastructure and a net zero energy footprint.    Continue reading

Petroleum and crude oil – the future of oil production | DW Documentary Video

Published on Mar 17, 2019  —  [Online until: April 17, 2019]

The market for oil is volatile. The transition from petroleum to renewables is in full swing, and global demand for oil could fall faster than predicted. [Online until: April 17, 2019].

When the price of crude oil tumbled dramatically between 2014 and 2016, it heralded the demise of an economic and geopolitical world order in place since the end of World War II. In the last few decades, fracking technology has turned the US into the world’s largest oil producer. Against that backdrop, the move towards renewable energies and away from fossil resources is making dramatic steps forward. A study published back in September 2012 made headlines by predicting an imminent drop in oil prices.          Continue reading

Guyana to produce 1M barrels of oil per day by 2025 – Finance Minister

 – Finance Minister Winston Jordan tells Canadian forum

Stabroek Block

Guyana Politics: The sub-text we are witnessing is our Ethnic Dynamics – Dr. David Hinds 

Burnham’s Exclusive Economic Zone (EEZ) Foresight led to Guyana having oil offshore

The Venezuela’s political crisis will change the Caribbean region – By Hudson George

Whatever the outcome of Venezuela’s political crisis, the Caribbean region will not be the same again

By Hudson George of Grenada – Commentary

Whatever the outcome of Venezuela’s political crisis, the Caribbean region will not be the same again. If the Nicolas Maduro government survives, or if the US-backed interim leader Juan Guaido is installed by US military invasion, the region will become infested with foreign military presence for a very long time because the conflict is all about who should controls the largest oil deposit resources in the world.       

All the talk about democracy and who is a dictator and who will restore democracy is just a joke. There is no proper democracy in those OPEC oil-rich countries. The majority of governments are dictatorships and there are no future plans ahead to create any forms of functioning healthy democracy in the future.         Continue reading

ExxonMobil announces two more discoveries offshore Guyana

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ExxonMobil said today that it had made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12.

A release from its Irving, Texas office said that the discoveries build on the previously announced estimated recoverable resource of more than 5 billion oil-equivalent barrels on the Stabroek block.      Continue reading

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