Exploration Archives - Panorama Insurance Brokers

Guyana oil exports could average US$72 million per lift for remainder of year

In its July Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in the June STEO forecast. This would see exports from Guyana, averaging around 1 million barrels of… Read More

Maersk Discoverer en route to Guyana for 85-day drill campaign at Corentyne block

The Maersk Discoverer, a sixth-generation semi-submersible drilling rig, is en route to Guyana from neighbouring Trinidad and Tobago and is expected to arrive at the Kawa-1 well site on the Corentyne block by August 15. CGX Energy Inc., operator of the block, and joint venture partner Frontera Energy Corporation, confirmed on Wednesday that they intend… Read More

Exxon seeking EPA approval for major 12-well drill campaign at Canje block

Exploration and appraisal drilling offshore Guyana is set to get even busier with more wells now being targeted at the Canje block where two non-commercial prospects have been spudded so far. The Environmental Protection Agency said in a notice published over the weekend that ExxonMobil Guyana has submitted an application for Environmental Authorisation to undertake… Read More

Oceaneering awarded contract by ExxonMobil for Guyana surveys

Oceaneering International has been awarded a contract from ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) to provide two surveys offshore the South American country. The contract award covers a towed and autonomous underwater vehicle (AUV) geophysical survey and a shallow geotechnical survey off the country’s coast. Oceaneering will use the DP-2 Cape Davis, equipped with… Read More

Aggressive oil exploration needed in Colombia – GlobalData

Colombia needs to pursue a much more aggressive oil exploration strategy in order to avoid highly contested fracking activities or an increase in gas prices as a result of importing, according to GlobalData. The leading data and analytics company notes that the country has seen no large discoveries in the last five years, and its… Read More

WoodMac projects multi-billion-dollar revenues for Guyana as discoveries grow

The announcement this week by U.S. oil major ExxonMobil that it has discovered more oil off the coast of Guyana further enhances the outlook analysts have had for the new oil producing country. Additional volumes being discovered at the prolific Stabroek Block cements the expectation that more FPSOs will be commissioned to produce the hydrocarbons… Read More

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

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore base at Foreshore, Plantation Best on the West Bank of Demerara. The intended development will fill the gap for oil and gas support services to meet the rapidly expanding offshore operations… Read More

Shell’s Barracuda Project delivers first gas in T&T

Shell Trinidad and Tobago says production has started on Block 5C in the East Coast Marine Area (ECMA) in the twin island republic. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic LNG, the oil major said. First gas at Barracuda was reached on July 18, 2021, and… Read More