Stabroek Block 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

Exxon’s 5th FPSO for Guyana could target development in area east of Liza complex

ExxonMobil’s 5th development offshore Guyana could be targeting wells in an area east of the Liza complex where quality reservoirs have been confirmed, the oil major said on Wednesday. “The Mako-2 evaluation well confirmed the quality, thickness and areal extent of the reservoir,” the company said. “When integrated with the previously announced discovery at Uaru-2,… 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

CNOOC enjoying rare success on global stage with Guyana oil finds

China National Offshore Oil Corporation (CNOOC), one of the largest National Oil Companies (NOC) in China, is enjoying rare success on the global stage, with a 25% stake in the multi-billion-barrel Stabroek Block offshore Guyana. The NOC has interest in operations in countries such as Brazil, Canada, and several parts of Africa but its Guyana… Read More

Production capacity for Guyana floaters can increase 10-15%

Chief Operating Officer (COO) for Hess Corporation, Greg Hill, recently disclosed that the Liza Destiny FPSO could be producing as much as 150,000 barrels of oil per day come 2022. The Hess official made this disclosure during his participation at the UBS Global Energy Virtual Conference 2021. That event was held on May 26, last…. Read More

Crondall awarded Technical Consultant role for Liza Unity FPSO

Crondall Energy Consultants Ltd will be supporting MUFG Bank Ltd as Lenders’ Technical Consultant for the Liza Unity FPSO project financing. The engineering, procurement, construction, and installation (EPCI) project is being undertaken by SBM Offshore for ExxonMobil’s second phase of the Liza development offshore Guyana. MUFG is acting as Technical Bank on behalf of a… Read More

Drilling deeper Guyana wells at Stabroek Block a key objective for Hess this year

A key drilling objective for Hess corporation in 2021 in Guyana’s offshore Stabroek Block is probing deeper geologic intervals where its partnership has now made four well penetrations, the company’s top executives said on April 28. Uaru-2, the most recent Guyana well completed by the consortium led by ExxonMobil and including China’s CNOOC, identified new… Read More

Stena DrillMAX taps Longtail-3 for more crude in multi-billion-barrel South America basin

ExxonMobil continues to forge ahead with its exploration drilling campaign offshore Guyana in a bid to add more oil equivalent barrels to the already 9 billion plus it has found in the South American country. The Stena DrillMAX is engaged in exploration drilling activities at the Longtail-3 prospect located approximately 110 nautical miles (202.8 kilometers)… Read More