ExxonMobil Archives - Panorama Insurance Brokers

Guyana government mulling overseas training in oil and gas for ‘hundreds of the brightest students’

Authorities in Guyana are looking to build a local group of core professionals that would ultimately take over the management of the oil and gas sector. This could see hundreds of Guyanese students being sent overseas to acquire the requisite skills so that they can return to take up key positions in the new oil… Read More

China to Buy of Exxon’s stake in West Qurna?

By John Lee. The China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are reportedly considering acquiring Exxon Mobil‘s remaining stake in Iraq’s West Qurna 1 oilfield. According to sources cited by Bloomberg, the stake could fetch more than $500 million. ExxonMobil originally had a 60% stake in the field, but sold… Read More

Stena Carron exits ‘deepest Guyana well’ for new drill campaign

The drillship Stena Carron is set to depart the Tanager-1 well site in the Kaieteur block and will take up a new assignment at the Redtail area, back in the adjacent Stabroek block, for an exercise that is set to conclude at the end of December. The Stena Carron recently concluded a drill campaign at… Read More

Liza-1 well can produce up to 50 million standard cubic feet of gas per day

Guyana is poised to significantly reduce its reliance on imported fossil fuel to meet its energy needs through the utilisation of natural gas from the offshore Liza field at the Stabroek block. There has been broad-based consensus on the transformational impact this project could have on the economy and the direct benefits it would bring… Read More

China oil giants considering buyout of Exxon’s stake in Iraq oil field

(Bloomberg) –China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oil field in Iraq, which could fetch at least $500 million, according to people familiar with the matter. The Chinese state-owned firms are weighing a potential deal to buy the 32.7% stake in Iraq’s… Read More

Payara subsea award is the largest since 2014

Payara, ExxonMobil’s 3rd development at the Stabroek Block offshore Guyana, has made way for the award of the largest subsea contract in the oil and gas industry since 2014. This comes in a year which one industry analyst describes as ‘bleak’ for deepwater operations due to the impact of the global pandemic on oil demand. Although… Read More

Tanager results a reminder that exploration is a risky, expensive business – Ramnarine

The results from the Tanager-1 exploration well at the Kaieteur Block offshore Guyana announced on Tuesday brings back into focus the risky nature of exploration, even in a basin where the success rate has been well above 90 percent. Since 2015, ExxonMobil has made 18 discoveries while encountering just two dry holes at the prolific… Read More

ExxonMobil looking to establish high-speed fibre-optic service linking offshore, onshore operations

In an effort to ensure production within the Stabroek Block is efficiently managed at all times, ExxonMobil Guyana plans to implement a secure, high-speed fibre-optic/wireless transport service. The project will ultimately connect the oil major’s onshore and offshore facilities to Guyana’s foundation infrastructure, thereby allowing it to improve productivity (field access data and planning), support… Read More

Guyana FPSO contributes to 16% revenue increase for SBM Offshore

Dutch floater specialist SBM Offshore is reporting a 16 percent increase in revenues for Q3 2020 when compared to the same period last year and this is being attributed in part to higher Lease and Operate earnings from the Liza Destiny FPSO which is producing oil for ExxonMobil offshore Guyana. The company said on Thursday… Read More