Tag Archives: ExxonMobil

GUYANA: OIL: EPA grants Environmental Authorisation for Yellowtail Project

ByOilNOW – April 1, 2022
The Environmental Protection Agency (EPA) disclosed on Friday that it gave approval ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) to move ahead with the Yellowtail Project.

The regulatory body said an Environmental Permit was granted for a period of five years to EEPGL to undertake the construction and operation of production facilities within the Stabroek Block.

OilNOW understands that the approval comes after the EPA considered public inputs during all statutory periods for public consultations and review.  The EPA said it took into consideration the technical review and recommendations from a team of Independent International Experts and the Environmental Assessment Board (EAB).            Continue reading

GUYANA: A Tiny Population Braces For A Gusher Of Petrodollars – The Economist

Other countries blessed with oil have not always made good use of it

AKAWANI | The Economist

It used to be a disused sawmill surrounded by fields of sugar cane. But since oil was discovered off Guyana’s coast in 2015 the 52-hectare site in Georgetown, the capital, has been transformed into the biggest logistics hub in the country. From this waterfront spot, Guyana Shore Base serves ExxonMobil, an American oil giant, and other foreign firms drilling for oil off the Caribbean coast. At two big berths along the Demerara River ships pull up to offload equipment for maintenance and pick up supplies for hundreds of workers toiling away on offshore rigs.

The buzz at the shore base hints at how a rush of petrodollars could transform one of South America’s poorest countries. Autarkic policies introduced under socialist rule in the 1970s left Guyana struggling with unsustainable debts and sluggish growth. Many of the country’s 800,000 people make ends meet doing the same things their grandparents did: farming rice, chopping timber or mining gold.           Continue reading

GUYANA: Exxon hits first oil at second Guyana development – capacity now 340,000 Barrels daily

By OilNOW – February 11, 2022
ExxonMobil today said it started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2, bringing total production capacity to more than 340,000 barrels per day in only seven years since the country’s first discovery.

Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel is expected to reach its target of 220,000 barrels of oil later this year, as operations continue to be brought safely online. It adds to the more than 120,000 barrels per day of capacity at the Liza Destiny FPSO, which began production in December 2019 and is now delivering at better than design capacity. The Stabroek Block’s recoverable resource base is currently estimated at more than 10 billion oil-equivalent barrels.              Continue reading

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?

By

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
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