Stabroek Block Archives - Panorama Insurance Brokers

Upfront investment in proprietary data, technology behind multi-billion-barrel discoveries offshore Guyana – ExxonMobil

The unprecedented success rate for discoveries that ExxonMobil has had offshore Guyana since 2015 is being attributed to proprietary seismic data and technology the company has developed over the years. Company officials told participants at the Caribbean Virtual Oil and Gas Summit (CARIVS) this week that the use of big tech has been key to… Read More

Guyana has 20-year window of opportunity to maximise benefits from oil resources

The effectiveness of Guyana’s development plans depends on the notion that the population can adequately benefit from the oil revenues that are beginning to flow, particularly since it has a limited window of opportunity in which to capture maximum returns from these resources. This, writes Dr. William Clavijo, a specialist in public policies, strategies, and… Read More

Guyana’s 4th FPSO could be targeting production at the Yellowtail area

The Yellowtail area offshore the South American country of Guyana contains oily fluids similar to those of the Liza discovery which US oil major ExxonMobil made back in 2015. With the recent additional reservoirs found in this location, it is likely to be moved up the queue as the fourth development at Stabroek Block. John… Read More

Stabroek Block flaring 17 times lower than global average

According to the World Bank Global Gas Flaring Tracker Report released in July this year, the global average for flaring stands at 8.49 billion cubic meters as of 2019. Russia, Iraq, the United States, Iran and Venezuela are the top five countries for flaring out of a list of 30, with Ecuador coming in with the lowest volumes at 920… Read More

Guyana will benefit from “first-mover advantages” by advancing offshore developments – API Chief Economist

New oil producer Guyana has much to gain from advancing development projects at its vast offshore oil fields where US oil major ExxonMobil has so far found more than 8 billion barrels of oil equivalent resources and other explorers have also made discoveries of their own. Dr. Dean Foreman, Chief Economist of the American Petroleum… Read More

Payara development targeting 220,000 bpd peak production

ExxonMobil’s 3rd proposed development at the Stabroek Block offshore Guyana is targeting 180,000 to 220,000 barrels of oil per day, pending government approvals. During the early stage of production operations, the project is anticipated to produce an average of approximately 5,700,000 to 6,600,000 barrels of crude oil per month. However, these estimates are preliminary and… Read More

Gas-to-shore project will be a key part of Guyana’s wealth creation – Morgan D. Bazilian

No technical barriers exist for piping natural gas from the Stabroek Block to shore for power generation and other applications in Guyana and with Gross Domestic Product (GDP) expected to triple in coming years, making this project a reality is key to wealth creation in the South American country. This is the view of Dr…. Read More

Saipem FDS 2 preparing seabed infrastructure for Liza Phase 2

Italian multinational oilfield services company Saipem is in the process of executing pipelaying work with the Crane Ship Saipem FDS 2, for phase 2 of ExxonMobil’s Liza Development offshore the South American country of Guyana. The Saipem FDS 2 is nine years old and can work in water depths of up to 3,000 metres. It… Read More

Guyana’s astronomical growth projections based on development of its massive oil fields – Deygoo-Boyer

Despite the challenges of the COVID-19 pandemic and recent political uncertainty surrounding its elections, Guyana is still projected by the International Monetary Fund (IMF) to be the fastest growing economy in the world this year.    “Oil and gas is going to be hugely important to the Guyanese economy,” Nicholas Deygoo-Boyer, Private Sector Commission (PSC)… Read More

ExxonMobil looking forward to positive results from Guyana drill campaigns

Results from the Redtail-1 prospect located some 103 nautical miles off the coast of Guyana at the Stabroek block are expected soon while a new campaign at the ‘deepest well ever drilled’ in the South American country at Tanager-1, in the ultra-deep Kaieteur block, is underway. “We have the Redtail well on the Stabroek license,… Read More