President Nicolas Maduro announced annexation of Essequibo and mobilized army at the border
GEORGETOWN, Sept 13 (Reuters) – Guyana on Wednesday received bids for eight of 14 offshore oil and gas exploration blocks offered in its first auction, including from groups formed by Exxon Mobil (XOM.N) and TotalEnergies (TTEF.PA), according to the government and documents seen by Reuters.
In a mere four years, Guyana went from first discovery to first oil, a rapid timeframe in an industry where it can take years to bring major energy projects online. The former British colony is now a major South American oil producer and global petroleum exporter.
Oceaneering International, through its Offshore Projects Group segment, has secured two contracts, worth more than $100m in total, for offshore projects.
Frontera Energy Corporation is completing analysis of the Wei-1 exploration well in Guyana with hopes to upgrade the play’s exploration licence to its development phase, the Canadian E&P company announced on Friday.
The vice-president of Guyana, Bharrat Jagdeo, has declared that his country is committed to building stronger ties with Ghana, especially in the hydrocarbons sector, for the mutual benefit of the two peoples of Ghana and Guyana.
Guyana has extended its deadline for its much-anticipated oil and gas bid round to September 12, 2023, Reuters reported on Wednesday.
The near collapse of Venezuela’s once colossal oil industry under the weight of endemic corruption‚ and strict U.S. sanctions, along with Mexico’s sputtering mature oil fields, saw Latin America’s economically crucial hydrocarbon sector fall into decline.
Tiny South American country Guyana, which has a population of less than one million, recently emerged as the world’s hottest offshore frontier drilling location.
Recently, a number of headlines recently have referred to the world’s “hottest frontier oil play,” a site of massive oil and gas finds with great promise for investors