Exxon Expects More Oil from Guyana's Offshore Block
Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday.Exxon and U.S.-based partner Hess Corp said more than 4 billion barrels of oil equivalent could be recovered from the Stabroek block, which is part of one of the biggest oil discoveries in the world in the last decade.The previous estimate was 3.2 billion barrels of oil equivalent, Exxon, the world's largest publicly traded oil producer, said.Besides Exxon and Hess, China's CNOOC is also part of the consortium that
Exxon Starts Drilling at Offshore Guyana Projects
Exxon Mobil Corp said it has commenced development drilling in the first of three offshore Guyana projects, which could produce more than 500,000 barrels of oil per day. Development drilling began in May for the first of 17 wells planned for Liza Phase 1, the company said.So far, Exxon Mobil and its co-venturers have discovered more than 3.2 billion oil-equivalent barrels estimated recoverable resources on the 6.6 million acre Stabroek Block.Liam Mallon, president of ExxonMobil Development Company, said, “We are well on our way to producing oil less than five years after our first discovery
ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered. The well was drilled to 5,504 meters depth in 1,940 meters of water by the Stena Carron drillship on May 25, 2018. The Longtail-1 well is located approximately 5 miles west of the Turbot-1 well and follows previous discoveries on the Stabroek Block at Liza, Payara, Liza Deep
Powering the Seafloor: Put a Socket in It
. ABB is putting the components in oil-filled containers and using natural convection for cooling.Siemens, was planning a full system test in 2017. Siemens is mostly putting its components in oil-filled containers too. Siemens Subsea is working on a subsea power grid JIP with Statoil, alongside Chevron, ExxonMobil, Petrobras and, since last year, ENI.Siemens is also advocating an infield low voltage distribution system called DigiGrid, which incorporates fiber optic communications.All-electricIn tandem with the development of the subsea power grid, moves toward all-electric equipment are being made. All-electr
Rowan Secures ExxonMobil Drillship Contract
Contract drilling services provider Rowan Companies plc announced that the one of its R-Class drillships, Rowan Relentless, has been awarded a contract by ExxonMobil to drill a prospect in the U.S. Gulf of Mexico.The contract is expected to commence in September 2018 and last for 80 days, followed by four one-well, priced options.
BP Doubles Down on Deepwater
, who have cooled on offshore investments in light of the lower costs and quicker returns of onshore shale plays. While BP has some onshore U.S. developments, the firm is notably absent from the industry's rush into shale oil fields of the West Texas Permian Basin. Majors including Exxon Mobil Corp, Chevron Corp and Royal Dutch Shell have maintained Gulf operations but focused expansions on U.S. shale. Exxon Mobil doubled its acreage in the Permian in a deal earlier this year. Freeport-McMoRan and Devon Energy Corp have pulled out of Gulf drilling entirely in recent years.
Latest Gulf of Mexico Auction Signals Offshore Return
typically requires higher prices for producers to break even. Royal Dutch Shell claimed the largest number of blocks, with 19 high bids valued at a combined $25.1 million. Chevron Corp followed with 15 high bids totaling $27.9 million. Anadarko Petroleum Corp won 10 blocks for $10.6 million. Exxon Mobil Corp took seven blocks of land for $20.4 million. Most of the bids were for deep water blocks, at depths of more than 1,600 meters. The auction drew interest from 27 oil companies, with 99 bids on 90 blocks in the Gulf of Mexico, according to the BOEM. "The deepwater industry
25 More Years in the ACG Field
Statoil, together with co-venturers and the Azerbaijan Government sign amended and restated Azeri-Chirag-Deepwater Gunashli PSA. The Azerbaijan Government and the State Oil Company of the Republic of Azerbaijan (SOCAR) together with BP, Statoil, Chevron, INPEX, ExxonMobil, TPAO, ITOCHU and ONGC Videsh today sign the amended and restated Azeri-Chirag-Deepwater Gunashli (ACG) Production Sharing Agreement (PSA) which will be effective until the end of 2049. The agreement was signed today in Baku and is now subject to ratification by the Parliament (Milli Majlis) of the Republic of Azerbaijan.
Exxon's Big Bet on Brazil Oil Could Signal Major Pre-salt Role
Exxon Mobil Corp's big bet on Brazil's offshore Campos basin shows its willingness to pay up to replenish its reserves and may pave the way for hefty bids in October auctions in the country's rich pre-salt areas, analysts said. Marking a return to Brazilian exploration after a five-year absence, Exxon took eight blocks in the coveted basin, one of Brazil's most productive, at an auction on Wednesday. Six were taken in partnership with state-run Petroleo Brasileiro (Petrobras). The auction's record take included an Exxon bid of 2.24 billion reais ($704 million) for one block, Brazil's
Energy Industry Says 'No Thanks' to Trump Offer of Marine Sanctuaries
members are not currently pursuing this opportunity,” said Catherine Reheis-Boyd, the president of the Western States Petroleum Association, referring to four marine sanctuaries off California’s coast that are under review. The WSPA represents major integrated companies including Exxon Mobil, BP, Chevron, and ConocoPhillips, and is focused on the region that would be most affected by the review. Officials for those companies did not respond to requests for comment. Other sanctuaries under review include the Thunder Bay Sanctuary in the Great Lakes, the Northeast
ExxonMobil's Canada Offshore Project Produces First Oil
The Hebron oil project off the coast of eastern Canada has produced its first oil, operator Exxon Mobil said on Tuesday, in a boost to Atlantic Canada's output after years of weak crude prices. At its peak Hebron will produce up to 150,000 barrels per day (bpd), Exxon said. It will help Atlantic Canada offshore production climb 44 percent to 307,000 bpd by 2024, according to estimates from the Canadian Association of Petroleum Producers. The platform is located 200 miles (350 kilometres) off the coast of Newfoundland and Labrador in depths of 300 feet (92 metres) and the oil field
Exxon, Petrobras Form Alliance to Develop Oil, Gas Projects
Exxon Mobil Corp and Petróleo Brasileiro SA, Brazil's state-controlled oil producer also known as Petrobras, said on Thursday they had formed an alliance to develop energy projects around the world. The deal, which was signed in Rio de Janeiro, will have the companies study ways they can cooperate on exploration, production and chemical ventures inside and outside of Brazil. The deal comes two months after Exxon and Petrobras were jointly awarded six oil-rich blocks in Brazilian coastal waters. (Reporting by Ernest Scheyder; editing by Diane Craft)
ExxonMobil Announces Oil Discovery Offshore Guyana
Exxon Mobil Corporation announced its sixth oil discovery offshore Guyana since 2015, following positive results from its Ranger-1 exploration well. The Ranger-1 well discovery adds to previous discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began drilling the Ranger-1 well on November 5, 2017 and encountered approximately 70 meters of high-quality, oil-bearing carbonate reservoir. The well was safely drilled to 6,450 meters
As US Opens Up Offshore Waters, Eastern GoM Beckons
domestic energy resources in concert with enabling military operations, training and testing." Defense Department spokeswoman Major Carla Gleason said collaboration with Interior on the issue was "a priority." Major offshore producers such as Exxon Mobil Corp, BP Plc, Anadarko Petroleum Corp and ConocoPhillips declined to comment. Shell welcomed the expanded offshore prospects the Trump administration plans to make available, but has not committed to any new activity, said spokesman Curtis Smith. A Chevron spokeswoman, Veronica
Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
data on the region. Schlumberger said it was "fully committed" to its customers in Mexico, but declined to elaborate on its business. The other three companies did not respond to requests for comment. Among companies bidding at Wednesday's auction are China Offshore Oil Corp, ExxonMobil and Total SA. More data sales, which are tracked by Mexico's energy regulator, are expected for further rounds and joint ventures this year as the country puts some 66 percent of its prospective oil reserves on the block. Some energy firms only pay for detailed data packages
Statoil Bags Four Blocks Offshore Brazil
Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on 29 March. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects. A consortium comprising Petrobras (30%), ExxonMobil (40%) and Statoil (30%), presented the winning bid for the C-M-657 block in Campos Basin with a signature bonus of 638,550,000 USD*. The same consortium made up of Petrobras (40%), ExxonMobil (40%) and Statoil (20%), presented the winning bid for the C-M-709 block in the Campos Basin with a
New Recommended Practice for Wellhead Fatigue Analysis
confidence in the analysis.While wellhead fatigue typically has been perceived as a North Sea concern, this JIP has benefited from the involvement of participants from both sides of the Atlantic resulting in the RP having a global application.One of the JIP partners, David Baker, Engineering Associate, ExxonMobil Upstream Research, stated that “The JIP brought together numerous industry experts from around the world to forge an important updated guidance document on wellhead fatigue analysis. Contributions from operators, equipment manufacturers and engineering contractors were incorporated to
