#stabroek

Exxon Unveils Large-Scale Gas Project in Oil-Dominated Guyana
▻https://gcaptain.com/exxon-unveils-large-scale-gas-project-in-oil-dominated-guyana

https://gcaptain.com/wp-content/uploads/2023/11/Prosperity_FPSO.jpg

U.S. oil major Exxon Mobil plans to boost natural gas output and supply in #Guyana through a large-scale project announced on Wednesday, following the government’s call for more gas to fuel onshore power and petrochemical projects.

The “Wales Gas Vision”, outlined by Exxon’s Guyana head, Alistair Routledge, at an energy conference in Georgetown, is set to provide gas for several petrochemical and power projects through a $1 billion pipeline completed last year.

The government will take a portion of the gas, produced by Exxon at its massive #Stabroek_Block and transported through the pipeline for power generation and natural gas liquids production. 

Also planned is a gas processing and liquefied natural gas (LNG) offshore facility to be built by U.S. company Fulcrum LNG. 

Exxon might be in charge of building a separate set of pipelines to transport the gas the government is entitled to as profit gas to Fulcrum LNG’s facility, energy minister Vickram Bharrat told Reuters on the sidelines of the conference. The plant will allow LNG exports and gas supply to Guyana’s Berbice area for producing fertilizers and alumina.

Exxon and the government have not disclosed total investment figures for the projects. A complete assessment of gas resources at Exxon’s block is needed for that, and Exxon must decide how it will use its portion of the gas to be produced, Bharrat said.

But the government believes there is enough gas for commercial projects, the minister added. 

Guyana is aiming to add natural gas to an energy mix dominated by oil output, helping to open new sources of revenue, Bharrat said.

“There will be a shift towards gas utilization and monetization,” the minister said at the conference. The government is expected to launch its ambitious gas strategy this year.

DeepOcean Secures Major Subsea Contract with ExxonMobil in #Guyana
▻https://gcaptain.com/deepocean-secures-major-subsea-contract-with-exxonmobil-in-guyana

https://gcaptain.com/wp-content/uploads/2024/02/Siem_Day_MPSV-800x534.jpg

Norway-based DeepOcean, a leading provider of ocean services, has secured a major contract from ExxonMobil Guyana for subsea construction and inspection, maintenance, and repair (IMR) services off the coast of Guyana, South America.

The contract marks DeepOcean’s first substantial contract with ExxonMobil in the Americas and its debut in the burgeoning Guyana offshore market.
[…]
DeepOcean will utilize the Siem Day multi-purpose support vessel (MPSV), which is outfitted with a 250-tonne crane and state-of-the-art technology and features that allow for efficient and safe operation even in challenging offshore environments. The vessel’s large deck space, advanced dynamic positioning systems, and dual ROV spreads guarantee superior performance and maximum productivity.

The #Stabroek_Block is hailed as one of the world’s most promising oil and gas discoveries, with estimated recoverable resources exceeding eight billion oil-equivalent barrels to date.

pas tout-à-fait sans rapport avec la réactivation des prétentions du #Venezuela sur l’#Esequibo …

Oil Boom Begins in #Guyana as Exxon Produces First Liza Crude - Bloomberg
▻https://www.bloomberg.com/news/articles/2019-12-21/hess-exxon-report-first-oil-output-from-liza-field-near-guyana

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i.tTX1RumXQs/v0/1200x899.jpg

Exxon Mobil Corp. and its partners produced the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues.

Output from the first phase of the offshore Liza field is expected to reach full capacity of 120,000 gross barrels of oil per day in coming months, with the first cargo to be sold within several weeks, the companies said in separate statements late Friday.

Exxon has a 45% share in the Guyana project, while Hess Corp. has 30% and China’s CNOOC Ltd. 25%. Exxon and Hess also reported Monday a new discovery at their Mako-1 well, which, along with Liza, is located in the #Stabroek_block.

Guyana President David Granger declared Dec. 20 “National Petroleum Day,” noting that the country has become an oil-producing state three months ahead of schedule. The president hailed a related 10-year government plan to create oil-related jobs and boost the economy.

Recoverable resources in the Stabroek block are estimated to exceed 6 billion barrels of oil equivalent. A second floating, production, storage and offloading (FPSO) facility, with capacity of as much as 220,000 gross barrels of oil per day, is under construction as part of Liza’s phase 2 development. At least five FPSOs are expected to be producing more than 750,000 gross barrels of oil per day from Stabroek by 2025.

The amount of oil expected to be produced would mean Guyana, with a population of less than 800,000, may end up producing more crude per person than any other country in the world. But how it benefits from that wealth is still an open question. While the country has established a sovereign wealth fund, it has been slow to develop regulations to govern the sector and there’s no set plan on how the money will be spent.

“Your government will manage petroleum revenues prudently to ensure fiscal discipline, financial sector stability, sustainable levels of public debt and low inflation,” Granger said in a video address to the people of Guyana.

Guyana will head to the polls in March for a presidential election that pits the incumbent coalition, led by Granger, against the People’s Progressive Party, which held power for 23 years until 2015.

Guyana rechazó la versión de Arreaza sobre los barcos de ExxonMobil
▻http://www.el-nacional.com/noticias/mundo/guyana-rechazo-version-arreaza-sobre-los-barcos-exxonmobil_266206

Enième incident de frontière entre Venezuela et Guyana : le 23/12/2018, une frégate vénézuélienne interrompt les opérations de prospection sismique d’un navire opérant sur une concession du Guyana à ExxonMobil.

La nota divulgada por Jorge Arreaza aseguraba que los capitanes interceptados aseguraron disponer de un permiso de Guyana para operar en dicho espacio marítimo

El ministro de Relaciones Exteriores de Guyana, Carl Greenidge, rechazó hoy la versión de Venezuela según la cual el Ejecutivo de Georgetown autorizó la incursión en aguas del país bolivariano de buques de exploración sísmica de la compañía ExxonMobil.

Greenidge reiteró durante un acto público en Georgetown que los barcos noruegos contratados por ExxonMobil fueron interceptados por la Armada venezolana y rechazó la afirmación de la Cancillería de que estuvieran operando en sus aguas territoriales.

El jefe de la diplomacia de Guyana calificó además de absurdas las palabras de la vicepresidenta de Venezuela, Delcy Rodríguez, sobre una supuesta incursión en aguas territoriales del país sudamericano.

La Cancillería informó el pasado 23 de diciembre de que la Armada Nacional Bolivariana divisó en aguas jurisdiccionales de Venezuela dos embarcaciones, una con bandera de Bahamas y otra de Trinidad y Tobago, contratadas por la petrolera ExxonMobil.

La nota divulgada por Jorge Arreaza aseguraba que los capitanes interceptados aseguraron disponer de un permiso de Guyana para operar en dicho espacio marítimo.

Greenidge dijo que tras repasar lo que describen los medios de comunicación de Venezuela y las conversaciones con los capitanes las coordenadas descritas dejan claro que estaban dentro de la ZEE (Zona Económica Exclusiva) de Guyana.

Matizó, en concreto, sobre la embarcación Ramford Tetys que fue interceptada en la ZEE y en la plataforma continental de Guyana a una distancia aproximada de 140 kilómetros desde el punto más cercano a la línea equidistante provisional con Venezuela y unos 250 kilómetros desde Punta Playa, el punto más occidental en la frontera terrestre.

El ministro de Relaciones Exteriores dijo que Guyana no tiene nada de qué preocuparse y que su país está dispuesto a volver reiterar hasta dónde llega su territorio nacional.

Greenidge sostuvo además que su gobierno está satisfecho con el progreso del caso ante la Corte Internacional de Justicia (CIJ).

#Esequibo

Exxon Sparks IMF Concern With Weighty Returns in Tiny #Guyana - Bloomberg
▻https://www.bloomberg.com/news/articles/2018-04-09/exxon-sparks-imf-concern-with-weighty-returns-in-tiny-guyana

Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play, that the tiny South American country should rewrite its tax laws, the International Monetary Fund said.

While Guyana should honor the existing deal, future contracts should ensure the state gets a higher portion of crude proceeds, the fund said in a report seen by Bloomberg News. The country, South America’s third poorest with an average per capita income of around $4,000, has little experience of dealing with multinational behemoths such as Exxon.

Terms of the 2016 contract “are relatively favorable to investors by international standards,” the IMF said in a report prepared for Guyanese officials. “Existing production sharing agreements appear to enjoy royalty rates well below of what is observed internationally.”
[…]
Open Oil, a Berlin-based company that advocates contract transparency, also found Guyana’s share of the #Stabroek was low compared with both established and early-stage producing countries. Guyana will receive 52 percent of positive cash flow over the life of Exxon’s initial project, compared with between 63 percent and 72 percent for developments in Liberia, Mauritania, Ghana, Senegal and Papua New Guinea, it said in a March report.

The Exxon contract, which was published on a government website last year, provides Guyana with a 2 percent royalty on sales and 50 percent of profitable oil, once costs are repaid. Exxon and its partners can only deduct three-quarters of their costs each year, giving the government some cash in the first years of the project.