Exploration Archives - Panorama Insurance Brokers

$8bn New Iraqi Energy Agreements with US Firms

The following commercial agreements worth as much as $8 billion were reached during a signing ceremony between U.S. energy companies and the Government of Iraq on August 19, 2020: Honeywell and the Ministry of Oil agreed to advance the development of the Ar Ratawi [Artawi] gas project, which will further enable Iraq to capture, process, and… Read More

Iraq to Sign Exploration MoU With Chevron

By John Lee. Iraq is reported to be planning to sign a memorandum of understanding with US-based Chevron to explore for oil in Dhi Qar (Thi Qar) province. A person familiar with the matter told Bloomberg that the deal would formalise Chevron’s interest in exploring the eastern and western parts of Nasiriyah, the capital of… Read More

ExxonMobil awarded 35-year concession in Argentina’s Vaca Muerta

(S&P Global Platts) ExxonMobil has been awarded a 35-year concession for another block in Vaca Muerta, a massive shale play that has been driving the company’s growth in oil and natural gas production in Argentina. The government of Neuquen, a southwestern province where most of the play is located, said late Aug. 13 that it… Read More

Report: 9 prospects at Kaieteur Block hold an estimated 2.1 billion barrels of oil

A study conducted on the Kaieteur Block offshore Guyana has revealed that nine prospects, including the Tanager-1 well where exploration drilling is underway, hold an estimated 2.1 billion barrels of oil resources. The Stena Carron drillship arrived at the Tanager-1 well site a week ago and results from that prospect is expected within a 90-day period…. Read More

A tough summer for oil-dependent nations may foretell their new normal

(Bloomberg) –From Baghdad and Algiers to Caracas, many of the world’s oil capitals are experiencing a summer of discontent. It could be a glimpse of their future. Iraq has seen fatal protests as its electricity grid buckles amid searing heat, while Venezuela’s oil production has sunk to a 75-year low. In Algeria’s capital, tension is… Read More

Stena Carron set to arrive at Tanager-1 today as search for more oil in Guyana continues

The hunt for more hydrocarbons continues offshore Guyana, this time outside of the prolific Stabroek Block, as ExxonMobil prepares to conduct a new drill campaign in the 3.3 million acres ultra-deepwater Kaieteur Block some 155 miles off the coast of the South American country. The Stena Carron drillship is expected to arrive at the Tanager… Read More

‘Multiple high potential leads’ identified on Corentyne Block – CGX Energy

CGX Energy Inc.through CGX Resources Inc. (CRI), operator of the Corentyne Block offshore Guyana, under a Joint Operating Agreement with Frontera Energy Guyana Corp., said Thursday a seismic acquisition conducted on the block has identified two potentially highly prospective large channel sand reservoir complexes. “These channel complexes are interpreted to contain multiple high potential leads… Read More

UK oil company strikes exploration deal in Jamaica

UK-based United Oil & Gas PLC said on Monday it has received approval from the Jamaican Government to take forward the Walton Morant Licence, Jamaica, on a 100% operated basis. United has been assigned Tullow Jamaica Ltd’s 80% equity in the Walton Morant licence for a nominal fee, leaving the Company as operator and 100% equity holder. The… Read More

Stena Carron to spud Tanager-1 at Kaieteur block

The Stena Carron drill ship is set to spud the first well on the 3.3 million acres Kaieteur block as operator, ExxonMobil, expands its search for hydrocarbons offshore the South American country of Guyana. The Kaieteur block is located approximately 155 miles (approximately 250 kilometers) offshore. “The Stena Carron will next move to the Kaieteur… Read More

Tullow pushes back Suriname well campaign to 2021

UK-based Tullow Oil said Wednesday it will be drilling the Goliathberg-Voltzberg North prospect at Suriname’s Block 47 early next year instead of Q4 2020, as was previously announced. The prospect lies approximately 260 kilometres off the coast of the country in 1,900 metres of water and is one of a series of leads and prospects on… Read More