Tag Archives: ExxonMobil

Guyana: By 2026: 4 FPSOs will deliver 50 million barrels of oil; US$4 billion annually to Guyana – Bharrat

OILNOW – October 23, 2021

Guyana’s Natural Resources Minister, Vickram Bharrat, says in the next four to five years Guyana would be well on its way to becoming the “mini-Dubai” of the Caribbean as it will have four oil ships providing considerable production volumes and revenue take.

During an exclusive interview with OilNOW, Mr. Bharrat recalled that currently, Guyana has US$436M in its Natural Resource Fund.  In the coming weeks, he posited that the country will receive payment for the most recent lift of one million barrels of Liza crude to Aramco Trading Limited. With another lift due next month, he predicts Guyana can get US$150M between the two if oil prices remain around US$85 per barrel. With this in mind, he said Guyana could comfortably close the year with close to US$600M in the Natural Resource Fund.

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OPINION: The Gas to Energy Project: More questions than answers?

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The Environmental Protection Agency (EPA) published a Public Notice on June 25, 2021 stating that an Environmental Impact Assessment (EIA) was required for the “Gas to Energy Project” led by Esso Exploration and Production Guyana Limited (EEPGL). EEPGL is a wholly owned subsidiary of ExxonMobil, the 10th largest Fortune 500 company with 72,000 employees worldwide.

The Guyana Environmental Protection Agency (EPA) also provided a schedule of virtual as well as face to face consultations for citizens and other concerned stakeholders to contribute to a “scoping” exercise – which the EPA says will contribute to determining the scope for the Environmental Impact Assessment (EIA) for the project.      Continue reading

GUYANA: Report on QC Alumni Association Oil and Gas Symposium– by Dr. Terrence R. Blackman

By Terrence R. Blackman, Ph.D. – OilNOW – 18 July 2021

On June 09, 2021, ExxonMobil announced newly identified, high-quality hydrocarbon-bearing reservoirs below the original Longtail-1 at Longtail-3 offshore Guyana. The well, located approximately two miles (3.5 kilometers) south of the Longtail-1 well, was drilled in more than 6,100 feet (1860 meters) of water.

This announcement has brought into sharper focus the ideas emerging from the recently concluded Memorial Day Weekend symposium on Navigating the Opportunities and Imperatives in Guyana’s Oil and Gas Economy, presented by the Queen’s College of Guyana Alumni Association, NY Chapter (QCAANY)…Read More

Geopolitics of oil and water in Guyana: Part 1 – By Ivelaw Griffith

By Ivelaw Lloyd Griffith – OilNOW

In the first of this two-part series on Guyana’s current flood travails, I offer an analysis of the country’s geography and environmental circumstances against the backdrop of the country as a petro state. The second article will explore the impacts of the flooding, explore strategies for current and future governments to leverage oil revenues, aid recovery efforts, and mitigate future disasters.

Oil Blessings 

Mother Nature has been blessing Guyana effusively in recent years, with 19 offshore oil finds between May 2015 and April of this year by a three-member consortium of ExxonMobil, Hess Corporation, and China’s National Offshore Oil Corporation.    Continue reading

GUYANA OIL: Exxon will now be producing more oil – faster than planned

GUYANA: OIL: Who are the real owners of the Canje and Kaieteur Oil Blocks?

The nation must know:

Click to Enlarge map

We welcome United States Secretary of State, Michael Pompeo, to Guyana. We thank him for his role in ensuring that the democratic will of the people was respected in relation to the elections of 2nd March, 2020.

America stands for democracy and America stood by Guyana during the attempt to steal the elections and revert Guyana to a state of political dictatorship. For this, we are grateful!

America also stands for transparency and accountability in government. American companies should not be doing business in a country where deals are being kept secret. American companies should not be involved in investing in oil blocks, the owners of which are concealed from the public.

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Guyana: ExxonMobil discovers two more reservoirs in offshore oilfields

Exxon-Mobil- Deep Water Champion Oil Exploration Rig

CMC, –Added 30 July 2020

This was reported on July29, and confirms that recent drilling operations to appraise the size of a previous discovery had identified two additional high-quality reservoirs.          Continue reading

Guyana: Oil Production: Exxon’s Liza Phase 2 to cost US$6B

Texas-headquartered ExxonMobil on May 02, 2019 said that it is steaming ahead with its Guyana operations, pumping US$6B into the second phase of the

File photo: In November 17, 2017, SBM Offshore started the conversion of the Bahamas-flagged Tina, a crude carrier, into the Liza Destiny FPSO.

Liza development. The decision followed recent Government and regulatory approvals of the second phase development.

Guyana is expected its first commercial oil early next year with the floating platform, Liza Destiny, to be here in the third quarter of this year.

“Liza Phase 2 will produce up to 220,000 barrels of oil per day and further capitalize on the significant development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 barrels of oil per day by 2025,” ExxonMobil disclosed yesterday in a statement.    Continue reading

Guyana: Oil and Opportunity: We are fighting the wrong enemy

By Leonard Gildarie

Leonard Gildarie

This is an all-too-familiar song. We are missing a game-changing opportunity to dance to the music. I cannot emphasise it more. We are instead, sitting in a corner, refusing to ask that pretty girl who is side-eyeing for a dance.

Forty years down the line, we will wonder, and possibly regret: what if the courage was mustered and she was asked?

We have some remarkable opportunities to make hay while the sun shines, but we are lapsing big time. Of course I am talking about OIL.

This past week, Kaieteur News published a front page photo depicting the developing situation in Houston, where oil-related activities are all happening at Muneshwers and Schlumberger, an area bought out from Gafoors, and where over US$100M has been plugged into a facility.          Continue reading

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

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