Tag Archives: ExxonMobil

The opposition People’s National Congress Reform/A Partnership for National Unity (PNCR/APNU) on Wednesday unveiled plans to ask ExxonMobil to agree to change the 2016 Production Sharing Agreement (PSA) as well as set up an inspector general’s office (IGO) to go after corruption in the oil and gas sector. “Considering the vastly changed conditions since the signing of the 2016 Stabroek ...

By Dr Randy Persaud, Professor Emeritus, American University, Washington D.C. Some folks live all their lives singing the same old songs, reciting the same old mantras, telling the same old stories. No worries there, because continuity is central to one’s sense of direction, purpose, of self. But while we may understand the cultural coordinates of our groundings, the same cannot ...

Ten months after Guyana’s first ever bid round yielded six companies for eight offshore oil blocks, government on Wednesday announced that negotiations have concluded and the companies were poised to sign the production sharing agreements (PSAs) and pay the signature bonuses. The signature bonus would be US$10 million for shallow waters and US$20 million for deep waters. Natural Resources Minister, ...

By GHK Lall I have never seen Bharrat Jagdeo running so scared. Indeed, any leader that has so many clouds and shadows hanging over him would be running scared as the impact of Nigel Hughes’ leadership presence registers. Jagdeo is vulnerable on so many fronts that scared only scratches the surface: he is transfixed by dark fears and terrified by ...

By GHK Lall From the pages of the Holy Bible, we got the Four Horsemen of the Apocalypse. The names given to them and now etched in hearts all over are Conquest, War, Famine, Death. From the sacred soil of this Motherland, Guyana, I give my fellow Guyanese, the Four Horsemen of Oil. The names I give them represent the ...

-Whiptail project receives government approvals; production targeted to begin in 2027 -Sixth Stabroek block development will add capacity of 250,000 barrels of oil per day -$12.7 billion of additional investment in Guyana’s growing economy SPRING, Texas – ExxonMobil has made a final investment decision for the Whiptail development offshore Guyana, after receiving the required government and regulatory approvals. Whiptail, the ...

The ExxonMobil-controlled consortium that is exploring and producing crude oil in the offshore Stabroek Block has agreed to take out a US$600 million insurance “per event” to cater for any oil spill clean-up, even as talks continue for a US$2 billion parent company guarantee, Vice President Bharrat Jagdeo said Wednesday. He told a news conference that consortium named Esso Exploration ...

IRVING, Texas – ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. ...

The Guyana government plans to open negotiations with United States (US) oil giant ExxonMobil to purchase natural gas to push industrialisation and provide cheap electricity to the nation as well as entrench local content requirements to ensure Guyanese are not paid lower salaries than in other countries, Vice President Bharrat Jagdeo told a news conference on Friday. Claiming that the ...

Plummeting demand for oil as a result of the Coronavirus (COVID-19) pandemic and an oil price war are expected to see Guyana earning less than the US$300 million it had expected to rake in annually from the Liza Phase 1 project and force ExxonMobil to push back developing other oil reservoirs, an analyst said. ExxonMobil spokeswoman in Guyana, Janelle Persaud ...