Read the full MOU between Guyana and Trinidad and Tobago
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, 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.
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 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.
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.
The Prime Minister of Grenada, Dr. the Right Honourable Keith Mitchell, has confirmed a commercial hydrocarbon find offshore Grenada, the day before national elections are carded.
The Prime Minister of Grenada, Dr Keith Mitchell has confirmed a commercial hydrocarbon find offshore Grenada, the day before national elections are carded.
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.
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.
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.
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).
Tullow Oil along with its partner Eco Atlantic Oil & Gas have commenced a 2,550 km2 seismic survey on the Company’s Orinduik Block offshore Guyana.
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.”
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.
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.
Jamaica is rapidly converting to natural gas as the main fuel for power generation but, alas, none of it will be coming from Trinidad and Tobago.
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).
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 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.