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Tag Archives: ExxonMobil

Guyana’s plans to raise oil royalties could ‘diminish attractiveness’

Reproduced from Energy Voice By Allister Thomas Guyana’s plans to raise oil and gas royalties may “diminish attractiveness” to future investors, according to new analysis. Earlier this month the South American nation announced its intention to raise the government’s take in future oil licences. Analyst firm GlobalData said the country could raise royalties from the current 2% to 5%, but ...

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First Lady commissions ExxonMobil’s first FPSO for Guyana

First Lady Sandra Granger on Saturday commissioned the ‘Liza Destiny’, the first in a series of Floating Production Storage and Offloading (FPSO) vessels for ExxonMobil Guyana at the Keppel Shipyard in Singapore. The vessel will depart Singapore in July and is expected to arrive in Guyana in September to prepare for the commencement of oil production for the Liza Phase ...

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Guyana flags reduced oil profits under ExxonMobil deal; preparations needed for price shocks IMF

The International Monetary Fund (IMF) has pointed to lingering uncertainty about how much profit oil Guyana will actually rake in, even as that global financial watchdog says it is ready to help the country prepare for oil price shocks. Preliminary findings of a 2019 Article IV official visit show that Guyana is well on its way to achieving 4.4 percent ...

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Occupational safety visits to Guyana offshore drill-ships too costly for Labour Department to conduct

The Labour Department cannot afford the money to inspect oil exploration vessels offshore Guyana to ensure they are complying with the country’s occupational safety and health laws, Labour Department Consultant Francis Carryl said Friday. “When we can afford to go out there, we will go to see exactly what is happening and I doubt whether we can go more than ...

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ExxonMobil to proceed with Liza Phase 2 offshore exploration

IRVING, Texas – ExxonMobil said Friday it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Liza Phase 2 will produce up to 220,000 barrels of oil per day and further capitalize on the significant development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 barrels of oil per day ...

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ExxonMobil makes 13th oil discovery offshore Guyana

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said Thursday it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area, which ExxonMobil expects to become a major ...

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Eco (Atlantic) Oil & Gas raises US$17m in anticipation of expanded drilling offshore Guyana

Reproduced from ProActive Investors Eco (Atlantic) Oil & Gas Ltd has raised US$17 milion of new funds to cover its participation in a possible expansion to the exploration drilling campaign offshore Guyana. It is selling 16.1 million shares to new and existing investors at a price of 80 pence per share, only a small discount to Wednesday’s closing price of ...

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GTT sets up oil and gas “big data” unit

The Guyana Telephone and Telegraph Company (GTT) has established an oil and gas unit that is serving oil companies in the secure transmission of data through its submarine fibre optic cable, the company’s Chief Executive Officer Justin Nedd said. “I can tell you we have an oil and gas unit that deals with the folks onshore,” he told a midday ...

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Gov’t asked to buy helicopter for search and rescue; ExxonMobil/Bristow helicopter support being explored

The Guyana government is being asked to fund the purchase of a heavy-lift helicopter to assist in search and rescue (SAR) operations, but meanwhile hopes that ExxonMobil’s helicopter service provider will be able to provide emergency assistance, a top official of the Guyana Civil Aviation Authority (GCAA) said Tuesday. GCAA Director-General, Egbert Field said a stakeholder group, which includes his ...

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OPINION: Democracy & Elections: Navigating Guyana’s muddy waters

By Professor Evan Ellis From February 19 through 27, I traveled to Georgetown, Guyana, to speak with individuals in the government and the private sector about the nation’s security challenges and internal dynamics. The country is in a potentially explosive political crisis with at least some similarities to the polarized situation in Washington, DC. In the midst of legal battles ...

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