Production Archives - Panorama Insurance Brokers

Suriname production expected to hit 650,000 bpd by 2030

Consultancy group Rystad Energy estimates that the five offshore discoveries made so far in Suriname hold cumulative recoverable resources of around 1.9 billion barrels of oil equivalent and anticipates production to come on stream by the end of decade, surpassing the half million barrels per day (bpd) mark. “Suriname took a giant leap last year… 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

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

Guyana regulators internationally trained to measure crude lifts

Guyana’s multi-billion-barrel hydrocarbon discoveries and the start of oil production operations have seen institutions playing catch up to monitor and regulate a sector that was practically non-existent prior to the 2015 world class Liza oil strike by ExxonMobil. Key to this is the training and expertise required to accurately measure oil being lifted offshore. This… Read More

Asset sales, maintenance in T&T and elsewhere will see BP output dropping this quarter

In a group results statement for Q1 2021, BP said second quarter production will be even lower than the first quarter in both its conventional operations and newly created ‘gas and low carbon’ unit. This is due to a combination of asset sales and maintenance, the latter in the North Sea, Gulf of Mexico as… Read More

Basins with high-quality, low-cost discoveries will reign supreme

Analysts around the world have been crunching numbers and closely examining scenarios that provide insight into the future of oil and gas in a world that is moving towards renewable energy sources. The predictions vary, often considerably, for peak oil and price scenarios over the next three decades. However, one thing most analysts agree on… Read More

Suriname’s first 3 offshore discoveries expected to produce around 1.4 billion barrels of oil – Rudolf Elias

The Outgoing Managing Director of Suriname’s state oil company, Staatsolie Maatschappij Suriname N.V., says the country’s first 3 offshore discoveries at Block 58 are expected to produce around 1.4 billion barrels of oil equivalent resources over time. Rudolf Elias, in a letter bidding farewell to the company, said despite the pandemic, the big news of… Read More

IEA landmark report calls for halt to global oil and gas developments, but cautions that each country would need to design its own strategy

The International Energy Agency (IEA) said Tuesday that under an energy scenario needed to put the world on a path to net-zero emissions by 2050, no new oil and gas developments should be sanctioned beyond those already approved for this year. “The world has a viable pathway to building a global energy sector with net-zero… Read More

Total starts oil production at Zinia Phase 2 in Angola

Total, operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency, announce on Thursday the start of production from the Zinia Phase 2 short-cycle project, connected to existing Pazflor’s FPSO (Floating Production, Storage and Offloading unit). The project includes the drilling of nine wells and is expected to reach… Read More