Exploration Archives - Panorama Insurance Brokers

Exxon forges ahead with exploration drilling at Pinktail, Cataback

ExxonMobil is forging ahead with its aggressive exploration and appraisal drilling programme offshore Guyana with new prospects being targeted at the 6.6 million acres Stabroek Block. The Noble Sam Croft drill ship is probing Pinktail-1, located 104 nautical miles (192.6 kilometers) offshore, covering an area of 0.29 square nautical miles. The Maritime Administration Department said… Read More

“We didn’t realise the significant potential of Stabroek Block” – says Shell VP exploration

Oil and gas exploration is risky business. Prior to the 2015 Liza discovery, all available data pointed to a high probability of not finding any commercial hydrocarbons offshore Guyana. The level of uncertainty was so high that U.S. oil major ExxonMobil’s partner at the time – Royal Dutch Shell – although analysing the same data… Read More

Exxon moves to Whiptail as 15-well Guyana campaign ramps up

Fresh off a new discovery announced just last week, U.S. oil major ExxonMobil is now moving to Whiptail, another prospect on the 6.6 million acres Stabroek Block where over 9 billion barrels of oil equivalent have been found since 2015. The company said in its Longtail-3 discovery announced last Wednesday that Whiptail is the next… Read More

Koebi-1 fails to deliver commercial crude, but Stabroek bonanza grows

The success rate at the Stabroek Block offshore Guyana remains unprecedented with significant hydrocarbon resources being found over the last year at previously announced discoveries. Even with disappointment at some of the wells, the overall oil strikes remain on an upward trajectory as exploration and appraisal drilling intensify. In announcing a new discovery at the… Read More

Exxon resumes exploration drilling at Canje Block, Repsol kicks off survey at Kanuku

Exploration drilling in the Canje Block offshore Guyana continues at the Jabillo-1 prospect located approximately 261 kilometers offshore. The Stena Carron had initiated drilling operations at Jabillo-1 on March 14 as part of a three-well campaign planned this year on the acreage, operated by U.S. oil major, ExxonMobil.  Drilling at Jabillo-1 was then paused, to… Read More

Guyana oil minister calls on investors to work with locals

To ensure all stakeholders benefit from Guyana’s lucrative oil and gas sector, Minister of Natural Resources, Vickram Bharrat urged current and prospective investors to work with locals on their projects. He made this call during his brief remarks at the opening ceremony of Saipem Guyana’s Offshore Construction Facility on Saturday. The Minister said the event… Read More

Guyana-Suriname Basin will be important to global energy transition – Hess VP Exploration

In order for the energy needs of the world to be met, upstream investments will have to significantly increase in the coming years. Deepwater ‘advantaged barrels’ in locations such as the Guyana-Suriname Basin will therefore continue to play a pivotal role in the global push for low-carbon energy sources. Timothy Chisholm Timothy Chisholm, Hess Corporation’s… Read More

Russia Deputy Prime Minister says IEA’s net zero plan could push oil price to $200

Russia Deputy Prime Minister Alexander Novak says the International Energy Agency (IEA)’s call for a halt to global oil and gas developments could push oil prices to $200 a barrel. “If the international energy agency’s decision to avoid financing new energy ventures is implemented, oil prices may hit $200,” Novak said on Thursday as preparations… Read More

Scale of resources, production potential at Suriname’s Block 58 “bigger than big” says APA official

All eyes are on Suriname’s Block 58 where four of the country’s five offshore discoveries have been made to date and the scale of the resource volume and production potential is said to be “bigger than big” according to an official at Apache Corporation (APA), a 50% stakeholder in the block. Total is operator and… Read More

Guyana and Suriname have reached ‘developmental take-off speed’ – analysts

Nestled on the north coast of South America, Guyana and Suriname are among the smallest of the countries on the continent. But with the discovery of multi-billion-barrel hydrocarbon resources, the economic prospects of these upcoming potential giants are among the brightest. Recent discoveries in the Guyana-Suriname basin attest to estimates of 10+ Bbbl of oil… Read More