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Regional & Int'l News

CGX Energy names its new exploration well — Utakwaaka

CGX Energy names its new exploration well — Utakwaaka

Canadian exploration company, CGX Energy, has announced the name of their new exploration well. The Utakwaaka well will be located in the Corentyne Block in Guyana. CGX Energy holds a 100 per cent stake in the block and according to the company, the well will be drilled in November 2019. 

Total moves forward with exploration well in French Guiana

Total moves forward with exploration well in French Guiana

Total, a French oil and gas major, has begun taking steps to execute an exploration well in French Guiana, adding to the new wave of exploration being done in the southern Caribbean. Total is also hoping to mirror some success in the Guyana Basin like U.S. oil and gas major, Exxon. 

Saipem awarded new contracts for Liza phase 2

Saipem awarded new contracts for Liza phase 2

Italy based contractor, Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana. These contracts are in addition to those awarded to Saipem in 2017 for Liza Phase 1.

Tullow completes Jamaica seismic

Tullow completes Jamaica seismic

Tullow Oil has completed seismic work on its operated offshore Walton Morant licence according to an article in Upstream. London-listed partner, United Oil and Gas (UOG), indicated that the conclusion of the 2,250 square kilometres 3D – seismic acquisition survey has moved the partners closer to de-risking the high-graded Colibri target. Tullow holds an 80 per cent interest in the licence and the remaining 20 per cent is held by UOG. 

Positive Staatsolie outlook

Positive Staatsolie outlook

Staatsolie is excited about their drilling prospects in 2018/2019. At the Trinidad and Tobago Energy Conference (Energy Conference), hosted by the Trinidad and Tobago Energy Chamber (Energy Chamber) in January, Rudolf Elias, Managing Director of Staatsolie, outlined the plans for the state-owned oil company for the upcoming year. 

Release of Exxon production sharing contract

Release of Exxon production sharing contract

The Government of Guyana has made public the production sharing contract between the Government of Guyana and ExxonMobil affiliate, Esso Exploration and Production Guyana Limited. The release of the agreement came on the heels of several sections of the business community in Guyana calling for it.  

Grenada finds gas

Grenada finds gas

Recent news suggests that the island of Grenada may now become the newest hydrocarbon-producing nation in the Caribbean region. A wildcat exploration well, called Nutmeg 2, was spudded by Global Petroleum Group (GPG), a little-known Russian company in late June. The well, located in about 400 feet of water near to Grenada’s maritime boundary with Venezuela, was drilled using the Transoceanowned semi-submersible Development Driller III. 

Exxon hires second drillship for Guyana

Exxon hires second drillship for Guyana

The Noble Bob Douglas drillship, owned by offshore driller Noble Corp, has been hired to work for Exxon in Guyana. The contract is with ExxonMobil in Guyana and is for a three-year period. The estimated contract start date is Q1/Q2 2018 with the estimated contract end date being Q1/Q2 2021.

More LNG demand for Jamaica power

More LNG demand for Jamaica power

Jamaica has been making the news for its aggressive drive to diversify away from its traditional reliance on imported oil, with both renewable energy and natural gas featuring strongly. The demand for natural gas for power generation is increasing. Several new facilities in Jamaica have also come on stream to use natural gas as a fuel, including Red Stripe brewery, and bauxite mining and alumina producer, Jamalco. With no domestic gas production as yet, Jamaica has turned to imports of liquefied natural gas (LNG). 

Liza declared commercial, new exploration activity ongoing

Liza declared commercial, new exploration activity ongoing

Exxon, and its partners Hess and Nexen , have formally written to the government of Guyana declaring that the Liza field is commercial and that they will be fast-tracking development. According to local news sources, Minister of Natural Resources Raphael Trotman noted that it was the first time in Guyana’s 50-year history that Section 31 of the Petroleum Act had been “activated”. Minister Trotman is reported as saying, “This is a profound and watershed moment in the development of our country.” 

Venezuela readies export of Dragon gas to T&T

Venezuela readies export of Dragon gas to T&T

Natural gas production from the Dragon natural gas field, located offshore the northeast coast of Venezuela, will soon reach the shores of the nearby twin-island nation of Trinidad and Tobago. 

Guarded optimism amongst Guyanese private sector

Guarded optimism amongst Guyanese private sector

It is clear that the population of Guyana is now beginning to get more excited about the potential of the oil industry to positively change the country and confidence in the eventual development of the industry has been steadily growing over the past year.

Guyana oil production to begin in 5 years

Guyana oil production to begin in 5 years

The big disappointment for Guyana, following the discovery of between 800 million to 1.4 billion barrels of oil resources by US major ExxonMobil 200 km offshore, is that the production of crude will not begin for another five years (2021). 

T&T's first LNG cargo passes through Panama Canal expansion

T&T's first LNG cargo passes through Panama Canal expansion

BP Trinidad and Tobago (bpTT) today issued photos of the historic passage of the BP British Merchant through the newly expanded Panama Canal. The British Merchant, operated by BP Shipping, left Atlantic LNG at Point Fortin on July 26th 2016 with its cargo destined for Mexico. It was the first liquefied natural gas (LNG) tanker from Trinidad and Tobago to make its way through the expanded Panama Canal which was officially opened on June 26th 2016.

Guyana to join ranks of oil producing nations

Guyana to join ranks of oil producing nations

Guyana looks set to soon join the ranks of oil producing nations. ExxonMobil has announced that its highly anticipated Liza-2 appraisal well has confirmed the discovery of a world-class, highquality oil reservoir offshore Guyana.