Category Archives: Oil Exploration

Oil & Gas: Prospects for Guyana: Highlights – Moray House Trust – video

Published on 20 Mar 2017

Moray House Trust held its first symposium on the topic, ‘Oil and Gas: The prospects for Guyana’ in March 2017. These are some highlights from the evening.

Another find confirms Guyana’s oil deposits larger than envisaged

Another find confirms Guyana’s oil deposits larger than envisaged

March 31, 2017. Kaieteur News

The Stena Carron drillship

Another discovery by United States (US) oil and gas giant – ExxonMobil, has confirmed that Guyana’s oil deposits are larger than what was previously envisaged by experts.

The Stena Carron drillship has moved back to the Liza area to drill the Liza-4 well. (File Photo)

The ExxonMobil Corporation, as promised, yesterday announced positive results on its sixth well – Snoek – located offshore Guyana, confirming a new discovery on the Stabroek Block. Drilling targeted similar aged reservoirs as encountered in previous discoveries at Liza and Payara.   Continue reading

Guyana’s Natural Resources Minister, Raphael Trotman Woos Toronto’s Guyanese-Canadians

Guyana’s Natural Resources Minister, Raphael Trotman Woos Toronto’s Guyanese-Canadians

 March 8, 2017 – Caribbean Graphic

Natural Resources Minister – Raphael Trotman

Guyana’s Natural Resources Minister, Raphael Trotman was in Toronto over the Mach 4-5 weekend to attend a Mining Conference. During his brief visit, Trotman took the time to address a March 4 audience of Guyanese-Canadians at a Stakeholder Engagement Session titled “Guyana Rising From Potential to Prosperity”, which was held at Toronto’s Westmount Event Centre. The session was held primarily to update members of the diaspora on the progress of the rich oil find and the potential it has for the future of Guyanese at home and abroad.

With expectations soaring in the event of the expected revenues from oil, Trotman in his excellent presentation and very well received address, said the Government has identified several infrastructural projects, including the construction of the road from Linden to Lethem, building a deep water port at Crab Island, Berbice and at least two hydro power plants.   Continue reading

Guyana: Exxon Mobil briefs Media on Development in the Oil Sector – video

GINA Guyana

Exxon Mobil briefs Media on Development in the Oil Sector

Guyana needs clear strategy on spending oil earnings- UK envoy

 Guyana needs clear strategy on spending oil earnings- UK envoy

British High Commissioner to Guyana, Greg Quinn.

Britain says while Guyana appears to be progressing towards commercial oil production, there appears to be no clear indication on how the South American nation will spend some of the revenues.

High Commissioner to Guyana, Greg Quinn said Guyanese stakeholders need to discuss how the money should be spent on the social sectors and infrastructure while putting some of the earnings in a Sovereign Wealth Fund.    Continue reading

ExxonMobil’s development plans in Guyana – video

ExxonMobil’s development plans in Guyana – video

Published on Feb 22, 2017 

Ever wondered how Hydrocarbons formed? Are you curious about ExxonMobil’s development plans in Guyana? Then check out this video.

Guyana: ExxonMobil says Liza to flow at 100,000 barrels per day

Guyana: ExxonMobil says Liza to flow at 100,000 barrels per day

Jan 29, 2017  Kaieteur News –  17 production wells planned

Trinidad (Oil and Gas Journal)- ExxonMobil Corp.’s giant Liza discovery offshore Guyana will have an average production of 100,000 b/d of oil when it begins flowing in 2020 according to the company’s Country Manager Jeff Simons.

Country Manager Jeff Simons

It also expects to produce 165 MMscfd of natural gas that will be mainly used for re-injection into the wells.
Speaking last week at the Energy Chamber of Trinidad and Tobago’s annual energy conference, Simmons said the company will use a floating production, storage, and offloading (FPSO) unit to produce the oil and would then export it, and raised the possibility of it being refined in nearby Trinidad and Tobago.   Continue reading

Guyana: Sovereign Wealth Fund will have effective budget stabilizing feature – Trotman

Sovereign Wealth Fund will have effective budget stabilizing feature – Trotman

— To also cater for environmental protection, funding of social protection projects

Natural Resources Minister, Raphael Trotman

While the intention to create a Sovereign Wealth Fund has earned the APNU+AFC administration much praise, there remains concern by some that the nation is yet to know what will be the specific features of the Fund.
Hoping to bring some clarity to the matter recently was Natural Resources Minister, Raphael Trotman. He told Kaieteur News that the Fund will have several features, one of which will be for budget stabilization.

“One must first understand that the Sovereign Wealth Fund is just a generic name. Most funds of this kind have several features which ours will have as well. However, the main characteristic of this Fund is to save money for the future generation which would be garnered from our oil wealth.”      Continue reading

Guyana exploring feasibility of oil refinery

Guyana exploring feasibility of oil refinery; T&T former Energy Minister virtually rules out refining at Petrotrin

Pedro Haas

Guyana has decided to begin examining the feasibility of establishing an oil refinery, as several local and foreign companies continue to express an interest in setting up such a facility here in response to increasing oil finds offshore.

Minister of Natural Resources, Raphael Trotman said consultant, Pedro Haas has been hired through the New Producers Group of the Royal Institute of International Affairs ‘Chatham House’ to help government determine whether an oil refinery should be built in Guyana. Haas is Director of Advisory Services at Hartree Partners LP,  a global merchant commodities firm specializing in energy and its associated industries.    Continue reading

Guyana’s Oil – Rex Tillerson got burned in Venezuela. Then he got revenge.

Rex Tillerson got burned in Venezuela. Then he got revenge.
By Nick Miroff, January 16, 2017
Rex Tillerson

Rex Tillerson

Rex Tillerson hadn’t been CEO of ExxonMobil very long when the late president Hugo Chavez made foreign oil companies in Venezuela an offer they couldn’t refuse. Give the government a bigger cut, or else.

Most of the companies took the deal. Tillerson refused.

Chavez responded in 2007 by nationalizing ExxonMobil’s considerable assets in the country, which the company valued at $10 billion. The losses were a big blow to Tillerson, who reportedly took the seizure as a personal affront.

Continue reading

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