A gas partnership could be on the horizon for Guyana and Suriname, as the two countries continue to deepen their relations.
South American nations are increasingly realigning energy strategies to capitalize on offshore oil and gas reserves, signaling a marked shift from previously stated goals of reducing dependence on fossil fuels to satisfy the net zero agenda of those obsessed with a faux climate emergency.
An Exxon Mobil (XOM.N), opens new tab consortium’s crude output in Guyana has been fully restored at two floating production facilities after workers completed a natural gas pipeline tie-in, a company spokesperson said on Monday.
Output had fallen to between 400,000 and 500,000 barrels per day from July 2 through the end of the month, government data showed, a sign that planned work on the floating production storage and offloading (FPSO) facilities had begun.
An Exxon Mobil consortium’s crude output in Guyana has been fully restored at two floating production facilities after workers completed a natural gas pipeline tie-in, a company spokesperson said on Monday.
The total estimate of recoverable oil and gas in Guyana rose to 11.6 billion barrels, Natural Resources Minister Vickram Bharrat said on Wednesday.
ExxonMobil Guyana is moving forward with plans to develop its seventh oil project in the country, targeting the Hammerhead field in the Stabroek Block. The Environmental Protection Agency (EPA) has begun reviewing ExxonMobil’s application for this new venture.
ExxonMobil is planning a new drilling campaign in Guyana’s Stabroek block and has filed a project summary with Guyana’s Environmental Protection Agency for the Hammerhead development project
Global oil and gas exploration is increasingly concentrated in “core” areas like Guyana and Namibia, where recent discoveries have been made.
While this concentration brings economic benefits, it also raises concerns about unexplored potential in other regions and the environmental impact of deepwater drilling.
Namibia, with its recent discoveries and influx of major oil companies, is poised to become a significant player in the global oil and gas market, but must navigate the challenges of the “resource curse.”
Guyana’s Environmental Protection Agency has begun a review of an ExxonMobil-led consortium’s intended seventh oil project known as Hammerhead, where up to 30 wells are to be drilled at the site located at the country’s offshore Stabroek Block, the government’s official news agency said July 16.
The project, which is pending government approval, would start production in 2029, lifting the country’s capacity to more than 1.4 million barrels of oil per day.Exxon operates all production in Guyana, with Hess Corp and China’s CNOOC as partners.