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More oil for Suriname: TotalEnergies and Apache announce new discovery

TotalEnergies and Apache Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi. Located 4 kilometers south-east of the Sapakara West-1 discovery, Sapakara South-1 was drilled in a water depth of about 850 meters. Sapakara… Read More

Pinktail, Tripletail, Cataback and Fangtooth – exploration soars at hottest new basin

All named after fishes, the exploration wells at the Stabroek Block continue to deliver massive hydrocarbon resources with a double oil strike announced on Wednesday at the Whiptail area and a major line-up of new prospects being targeted by operator ExxonMobil and co-venturers Hess and CNOOC. The Noble Don Taylor will soon drill the Pinktail-1… Read More

Guyana looking to expedite offshore drill campaigns as discoveries balloon

The Guyana government is pushing for major expansion of exploration and development of its vast hydrocarbon resources offshore and said it will be doing so with the highest level of compliance and transparency. Natural Resources Minister, Vickram Bharrat said Wednesday ExxonMobil’s double oil strikes at the Whiptail-1 and 2 prospects will add to the more… Read More

Guyana’s prime oil assets address world’s dual challenge on energy supply, emissions reduction – Hess

Even as world leaders make big commitments to transition to renewable energy so as to achieve net-zero emissions by 2050, oil will still be needed along the way to meet global needs. During his company’s 2021 Q2 Earnings call, Hess Corporation’s Chief Executive Officer (CEO), John Hess, acknowledged this while noting that it was also… Read More

Iraq and Lebanon sign Fuel Barter Deal

By John Lee. Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period. Lebanon’s caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend. The oil will be paid for in goods and services…. Read More

World Bank President discusses Iraqi Projects

By John Lee. World Bank Group President David Malpass met with Iraqi Prime Minister Mustafa Al-Kadhimi during his visit to the United States this week. During the meeting, they discussed the cooperation in financing infrastructure projects in the fields of water, airports, natural gas and energy projects, especially solar. President Malpass affirmed to Prime Minister… Read More

Founder Institute launches Accelerator Programme in Iraq

The Founder Institute, the world’s largest pre-seed startup accelerator, is excited to announce that it is officially launching its newest chapter in the Levant Region focusing on founders from Jordan, Iraq, and Lebanon. While the Silicon-Valley based programme has chapters in over 200 cities worldwide. Early-stage entrepreneurs in the Levant can now take advantage of… Read More

Soran and Zakho to be Autonomous Administrations

The Council of Ministers of the Kurdistan Region of Iraq has approved Soran and Zakho as autonomous administrations, in a meeting led Prime Minister Masrour Barzani. Prime Minister Barzani cited the size and significance of both districts as reasons to grant them autonomy, and proposed that self-governance would ease the workload of people in those… Read More

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it sustained a net loss of US$73 million, or US$0.24 per common share, in the second quarter of 2021. This represents a significant improvement when compared with a net loss of YUS$320 million, or $1.05 per common… Read More

BREAKING: Exxon makes another major oil discovery offshore Guyana

ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which has encountered 167 feet (51 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling… Read More