Oil & Gas Archives - Page 2 of 207 - Panorama Insurance Brokers

Close to US$160M a year will be saved in power cost from gas pipeline – Guyana’s VP

The benefits and implications of landing a gas pipeline onshore from the Liza Phase 1 Development continue to engage the public’s attention in Guyana with the government projecting massive savings from a reduction in the cost of power, while some advocates are pushing for an economic feasibility study to be done. “The cost of generating… Read More

Venezuela oil field shuts down for maintenance, over 300 wells targeted

Venezuela’s state-owned PDVSA has started a maintenance shutdown of its Petropiar oil field located in the Ayacucho block in the Orinoco Belt, according to a technical report reviewed by S&P Global Platts. “It’s being stopped in a programmed manner: 338 wells, nine multi-phase stations and diluent re-pumping, as well as electric supply installations in the… Read More

Royston wraps up overhaul work on Stena DrillMAX, Guyana operations continue

Marine engineering and propulsion specialist Royston has completed engine overhaul work onboard one of the world’s most advanced drill ships as part of a logistical solution provided to the vessel’s owners and operators, Stena Drilling. Work on the 228m length ‘Stena DrillMAX’ saw a 48,000 running hours service on a Wartsila W16V32 engine carried out… Read More

Bulk of current drillship demand in ‘golden triangle’ where Guyana offshore remains busy

The bulk of current drillship demand is in the so-called golden triangle area which comprises the Gulf of Mexico (US and Mexico), South America (Brazil, Guyana & Suriname), and Africa (west, south, and east coasts). These regions account for 44 of the 55 requirements scheduled to begin this year and 118 of the 152 total…. Read More

Oil slips as rising infections trigger demand concerns

(Reuters) Oil prices were lower on Monday as rising coronavirus infections in India and other countries prompted concerns that stronger measures to contain the pandemic will hit economic activity, along with demand for commodities such as crude. Brent crude was down 17 cents, or 0.3%, at $66.60 a barrel by 0643 GMT, after rising 6%… Read More

WoodMac sees US$10 Brent oil coming, majors facing decline on scale never before seen

The action to achieve Paris climate goals will upend oil and gas prices. Under consultancy group Wood Mackenzie’s Accelerated Energy Transition Scenario (AET-2), all National and International Oil Companies face decline, and the sector will see asset impairments and bankruptcy or restructuring on a scale far greater than that of 2020. “If we move to… Read More

Opposition Leader seeking meeting with ExxonMobil over gas compressor issue

Leader of the Opposition in Guyana, Joseph Harmon, has written to President of Esso Exploration and Production Guyana Ltd. (EEPGL), Alistair Routledge, seeking a meeting to address matters related to the challenges the company has been facing with the flash gas compressor system on the Liza Destiny floating production storage and offloading (FPSO) vessel. EEPGL… Read More

ExxonMobil drilling operations continue at Turbot-2, Bulletwood-1

ExxonMobil is continuing its drilling operations offshore Guyana at the Turbot-2 prospect in the Stabroek Block and at Bulletwood-1 in the adjacent Canje acreage. The recently arrived Noble Sam Croft is undertaking exploration drilling activities at Turbot-2 located approximately 103 nautical miles (190.8 kilometers) from the Guyana coast, covering an area of 0.29 square nautical… Read More