WOW. This is great news

This might be great news, but we should not forget about protecting our coast line from an oil spill.

We don't want another Alaska, Gulf of Mexico  and BC coast scenario reoccurring along the Guyana coast.

Before any commercial oil exportation occurs,  ExxonMobil should present a comprehensive plan to protect the environment, if a spill should occur.

Some of these companies are good at reaping out resources and leaving us with a bigger environment problem.

Short term profit, might not be good for a long term disaster.

"Industry sources said at least five players are battling to land a contract to lease a “vessel of ¬opportunity” able to handle 60,000 barrels per day of crude or more, plus significant quantities of gas. First oil is being targeted as soon as 2018."

Look's like oil will flow soon,this great news for the

Guyanese people.

4hrs and few replies what happen them bhais busy looking

for negative stuff.

Keep your fingers crossed. Plenty funny things can happen between now and 2018.

Maduro could get mad and drive out ExxonMobil by force.

Oil prices could drop further, giving Guyana chicken feed royalty.

Oil revenue for the government will not necessarily trickle down to the masses.

There may be another global recession.

CAUTION: When your expectations are mountain high, your disappointment will be ocean deep.

Druggie just had a nervous break down at the notion that foreign investors aren't fleeing Guyana.

Bhai..now you got me thinking,anyway me got a feeling

Uncle Sam will assist,you notice how the ambassador

very vocal.

The USA is of vital importance to Venezuela, despite Maduro's rants.

Let them harass US corporate interests and see how fast an embargo is set up.

Correct..Muduro can rant how much he want,Uncle Sam

have the check mate.

Great news, however let us not forget that this is not a credit to the afc/apnu as the exploration started long before they entered office. In addition now the nation has to beware of these thieves in office filling their pockets with oil money a la the Nigerian govt. We saw no shame from these new band of crooks when they gave themselves 50% raises in the face of hard economic times. But maybe these jokers knew of the oil money coming in and were one step ahead in adjusting their salaries. 

the PPP showed us their hand. They are responsible for the culture of corruption that  has  pervaded the state administration. I have no doubt these people given they have absolute power will be corrupted.  

I still prefer them over the likes of you with no morals who chose to sell a lie rather than seek to inform the people they need defenses from politicians in general not from a party because of their race. It is also a lie that the adjusted their salary 50 percent across the board.

ExxonMobil

ramps up preparations

for possible 2018 operations

US-owned ExxonMobil

is said to be examining bids

from floater contractors

aiming to supply the company with

a floating production,

storage

and offloading (FPSO)vessel

for the fast-track development

of its deepwater Liza project off Guyana.

Prospect: ExxonMobil and Chief Executive Officer Rex Tillerson is upbeat over Liza’s potential

Industry sources said that at least five players

are battling to land a contract to lease

a “vessel of opportunity”

to handle 60,000 barrels per day of crude

or more, plus significant quantities of gas.

First oil is being targeted

as soon as 2018,

according to a report yesterday on   upstreamonline.com.

The four-company group chasing the FPSO order,

said sources, comprise

Bluewater,

BW Offshore,

Modec,

Saipem and SBM Offshore.

The news would spell good ones for Guyana

after ExxonMobil announced the find back in May.

It was the first major oil find for Guyana

which has been heavily dependent on imported oil

to meet energy and transportation needs.

However, neighbouring Venezuela

has since revived its claims to Guyana’s territory,

including the waters where ExxonMobil found the oil.

According to Upstreamonline.com,

reporting on ExxonMobil’s plans,

yesterday said that

this early production system

could be the forerunner of a full-field project,

tentatively based on a larger FPSO with capacity

in the range of 150,000 to 200,000 barrels per day (bpd).

However, industry sources cautioned

that the US Company has not yet taken definite decisions

on its preferred strategy for Liza,

and that how it will move to full field development

is not yet clear.

Nevertheless, ExxonMobil,

is said to be enthused by the potential of Liza,

a play-opening frontier wildcat

which was completed in May.

“It’s a huge field,” said one source,

adding that ExxonMobil thinks that this area

“could be a second Angola.”

ExxonMobil contracted seismic player CGG

to acquire what industry sources said

was as much as 20,000 square kilometres

of seismic data earlier this year,

using two vessels and fast-tracked processing.

Onboard the drilling rig earlier this year.

Despite the dearth of floater projects globally,

the FPSO companies’ studies

are said to have been partly funded by the ExxonMobil.

These preliminary studies focused

on an early production system but also,

said one source, took in conceptual work

on the potential full-field scheme.

Pre-FEED work began early this summer,

with documents submitted in mid-September.

ExxonMobil is expected to decide

on its preferred bidders within weeks.

One source suggested two or three players

may be asked to take part in a competitive contest

lasting six to nine months,

leading to a potential contract award

in the third quarter of next year.

ExxonMobil is also in talks

with subsea players about hardware provision.

Liza’s initial subsea production system

is expected to include gas injectors

and perhaps water injectors,

as well as production wells.

There is market talk that the subsea system

supporting the early production FPSO

could more than triple in size

if ExxonMobil is confident about the reservoir parameters.

One source, Upstreamonline.com said,

noted that the broader challenge for the development

lies less with its technical aspects

and more with the area’s isolation.

There is no maritime or oil and gas infrastructure.

The topography of the region

would make development of such facilities very difficult.

Instead, supplies would likely come from Trinidad & Tobago

where ExxonMobil sourced its drilling operation,

though sources warned that the distance

and strong ocean currents make logistics challenging.

Upstream previously reported

that ExxonMobil intends to drill at least four more wells

on its 6.6-million acre Stabroek block.

These will appraise Liza —

an Upper Cretaceous discovery —

and also target an exploration prospect called Ranger,

a different play concept from the initial hit.

Sources familiar with the geology of the trend

said they believed the reservoir would produce

light oil with low viscosity

that could flow at rates of anywhere

from 15,000 to 20,000 barrels per day

from a single well.

ExxonMobil put out a tender earlier this year

to secure a rig for the drilling programme

that was thought to have drawn bids

from a host of major rig contractors,

but Upstream understands

the rig procurement process is ongoing.

An ExxonMobil representative said the company

“continues to progress” its future plans for the block,

but offered few details.

“Liza-1 well and seismic data are being analysed

to evaluate the resource potential of the reservoir

and additional potential on the block,”

said the representative. 

“Further details of our 2016 drilling program

are in development.”

The original Liza wildcat

hit more than 295 feet of high-quality oil

bearing sandstone reservoirs and

was drilled to 17,825 feet

by the Trans­ocean drillship Deep­water Champion.

The site lies about 120 miles (192 kilometres)

off Guyana in 5719 feet of water.

ExxonMobil operates Stabroek on a 45% stake,

with US independent Hess holding 30% and

China National Offshore Oil Corporation-owned Nexen on 25%.

ExxonMobil/Guyana

ramps up preparations

for 2018 operations....

US-owned ExxonMobil

is said to be examining bids

from floater contractors

aiming to supply the company with

a floating production,

storage

and offloading (FPSO)vessel

for the fast-track development

of its deepwater Liza project off Guyana.

According to Upstreamonline.com,

reporting on ExxonMobil’s plans,

yesterday said that

this early production system

could be the forerunner of a full-field project,

tentatively based on a larger FPSO with capacity

in the range of 150,000 to 200,000 barrels per day (bpd).

Jagdeo, Big_Seed & Kwame

prepearing for Buggerism

in Camp Street in 2018....

Law enforcement

is said to be examining

Charges for Crimes Committed

by Jagdeo Family, Friends & Cronies. 

(CCC/JFFC)

aiming to fast-track criminal Charges .

According to Big_Seed.com,

reporting on evidence gathered so far,

yesterday said that

(CCC/JFFC)

will lead to Controlled

Buggerism per day (bpd)

in Camp Street Jail.

Guys, don't fool yourselves. While the US is sympathetic to Guyana presently, it will swing to Venezuela's side the day Maduro is kicked out of office by a pro-US party/coalition. Lest we forget, it was the US that spurred Venezuela in 1962 to revive its claim over Essequibo. Historically, US administrations have been two-timing bastards when dealing with other countries, pretending to be friend while double-crossing them simultaneously.

In keeping with its long-term geo-strategic interests, the US will always eyeball Venezuela's proven oil and gas reserves. That's why it is undermining Maduro quietly and slowly. Like Brer Anancy, Uncle Sam knows that its opporunity will come sooner or later.

Please note that while Guyana wants the World Court to intervene, the US has not expressed support for that option. Why? Tickle your brains and think up the answer.

Gilbakka - Bingo!!!  You hit the nail on the head.  Spot on!

A case of counting their chickens before they are hatched. The PNC is betting "lock, stock, and barrel " on the oil revenue, with this anticipation they all Took A BIG RAISE, 50%%%%

You should be ashamed of yourself, selling your soul to justify thievery under the afc/apnu regime. You need to be as vocal about their blunders and excesses as you were with the PPP. In effect you have become the status quo. But what better is to be expected from someone with a second rate Howard education?

There is no reason for the US to relinquish support of the US friendly Granger administration. The US was trying to destabilize the BG government in 1962 because the Commie Clown Cheddie was trying to hand the country to the Russians on a silver platter.

The US has a position vis a vis these sorts of claims. The support the Brits in the Falklands and are organizing against China in the South China sea. They cannot undercut themselves with us with respect to venezuela, They emphatically state this matter is settled.

10 countries sitting on massive oceans of oil

1. Venezuela

Reuters/Carlos Garcia Rawlins

Oil well operated by Venezuela's state company PDVSA.

Proven crude oil reserves (bbl): 
297.7 billion

"Venezuela remains highly dependent on oil revenues, which account for roughly 96% of export earnings, about 40% of government revenues, and 11% of GDP," according to the CIA Factbook.

Consequently, the plunging oil prices in late 2014, combined with a recession, crushed the Venezuelan economy. And now the country is looking for allies outside of OPEC in hopes of stabilizing its oil prices.

Source: Barclays Research, CIA Factbook

http://www.businessinsider.com...-oil-reserves-2015-7

 

Is this double crossing effect ??,a point to note Venezuela took away Mobil and Conoco.

 

From the US geo-political standpoint, the ideal scenario would be a pro-US Granger regime plus a pro-US Veno regime. Venezuela has bigger proven reserves, compared to Guyana's promising find. In that way ExxonMobil and other US oil companies could pump oil and gas out of both countries. It happened before in the Middle East.

You hit the nail with the correct hammer.

Originally Posted by Gilbakka:

Originally Posted by Django:

Originally Posted by caribny:

Originally Posted by Gilbakka:

.

Maduro could get mad and drive out ExxonMobil by force.

 

 

The USA is of vital importance to Venezuela, despite Maduro's rants.

 

Let them harass US corporate interests and see how fast an embargo is set up.

Correct..Muduro can rant how much he want,Uncle Sam

have the check mate.

Guys, don't fool yourselves. While the US is sympathetic to Guyana presently, it will swing to Venezuela's side the day Maduro is kicked out of office by a pro-US party/coalition. Lest we forget, it was the US that spurred Venezuela in 1962 to revive its claim over Essequibo. Historically, US administrations have been two-timing bastards when dealing with other countries, pretending to be friend while double-crossing them simultaneously.

In keeping with its long-term geo-strategic interests, the US will always eyeball Venezuela's proven oil and gas reserves. That's why it is undermining Maduro quietly and slowly. Like Brer Anancy, Uncle Sam knows that its opporunity will come sooner or later.

Please note that while Guyana wants the World Court to intervene, the US has not expressed support for that option. Why? Tickle your brains and think up the answer.

10 countries sitting on massive oceans of oil

1. Venezuela

Reuters/Carlos Garcia Rawlins

Oil well operated by Venezuela's state company PDVSA.

Proven crude oil reserves (bbl): 
297.7 billion

"Venezuela remains highly dependent on oil revenues, which account for roughly 96% of export earnings, about 40% of government revenues, and 11% of GDP," according to the CIA Factbook.

Consequently, the plunging oil prices in late 2014, combined with a recession, crushed the Venezuelan economy. And now the country is looking for allies outside of OPEC in hopes of stabilizing its oil prices.

Source: Barclays Research, CIA Factbook

http://www.businessinsider.com...-oil-reserves-2015-7

 

Is this double crossing effect ??,a point to note Venezuela took away Mobil and Conoco.

 

Bai, Burnham had taken away Royal Bank and Barclays Bank and Bookers Store and succeeding regimes had to privatize them. Same thing happened in India --- nationalization gave way to privatization.

A pro-US regime that topples Maduro will hand back ExxonMobil and Conoco to their former owners, for a mutually agreed price.

ExxonMobil and Conoco are publicly traded companies and hence they are owned by the shareholders.  However,  the company have lobbyists in Washington and the US government has a special interest To manipulate policy in favor of its corporations.   The profits will go back to the US.

Originally Posted by Django:

Originally Posted by Gilbakka:

Originally Posted by Django:

Originally Posted by caribny:

Originally Posted by Gilbakka:

.

Maduro could get mad and drive out ExxonMobil by force.

 

 

The USA is of vital importance to Venezuela, despite Maduro's rants.

 

Let them harass US corporate interests and see how fast an embargo is set up.

Correct..Muduro can rant how much he want,Uncle Sam

have the check mate.

Guys, don't fool yourselves. While the US is sympathetic to Guyana presently, it will swing to Venezuela's side the day Maduro is kicked out of office by a pro-US party/coalition. Lest we forget, it was the US that spurred Venezuela in 1962 to revive its claim over Essequibo. Historically, US administrations have been two-timing bastards when dealing with other countries, pretending to be friend while double-crossing them simultaneously.

In keeping with its long-term geo-strategic interests, the US will always eyeball Venezuela's proven oil and gas reserves. That's why it is undermining Maduro quietly and slowly. Like Brer Anancy, Uncle Sam knows that its opporunity will come sooner or later.

Please note that while Guyana wants the World Court to intervene, the US has not expressed support for that option. Why? Tickle your brains and think up the answer.

10 countries sitting on massive oceans of oil

1. Venezuela

Reuters/Carlos Garcia Rawlins

Oil well operated by Venezuela's state company PDVSA.

Proven crude oil reserves (bbl): 
297.7 billion

"Venezuela remains highly dependent on oil revenues, which account for roughly 96% of export earnings, about 40% of government revenues, and 11% of GDP," according to the CIA Factbook.

Consequently, the plunging oil prices in late 2014, combined with a recession, crushed the Venezuelan economy. And now the country is looking for allies outside of OPEC in hopes of stabilizing its oil prices.

Source: Barclays Research, CIA Factbook

http://www.businessinsider.com...-oil-reserves-2015-7

 

Is this double crossing effect ??,a point to note Venezuela took away Mobil and Conoco.

 

Bai, Burnham had taken away Royal Bank and Barclays Bank and Bookers Store and succeeding regimes had to privatize them. Same thing happened in India --- nationalization gave way to privatization.

A pro-US regime that topples Maduro will hand back ExxonMobil and Conoco to their former owners, for a mutually agreed price.

While the wait for this to occur,Mobil is exploring Guyana

reserves,there is a current game plan,the results will be

known in about two years will Guyana benefit we will

find out.

The results will NOT be known in two years.  And Guyana will NOT benefit.  They might throw them a couple dollars to stay nice with the government but the profits will make its way right back to the US.  

You doomsday prophets come up with all kinds of nonsense in the face of development led by the party you do not like. Jobs and taxes/royalties equal to benefit for the country. It's the same as with oil companies operating in many other countries. One only has to look at the difference between Guyana and T&T. How do you think many Middle Eastern countries became wealthy? It wasn't by selling sand.

Druggie.  Cease crying the PPP lost.

They were blatantly corrupt.  Also cease babbling nonsense.  It isn't a cross the board 50% pay increase.  Blame the PPP for paying Anil so much that he got Moses jealous.

This is exactly why Guyana needs early resolution of this issue, and not letting it drag out as Jagdeo advised with his suggestion that Granger go groveling to Maduro.

Of course had this happened under a President Jagdeo, you would be jumping up for joy, and screaming all hail PPP.

T&T is no paradise with its significant levels of poverty, high crime, income inequality and corruption.   Guyana should look to see what T&T did wrong.

T&T has an economy skewed to one which generates a small number of high paid jobs, leaving the non oil sectors to absorb the bulk of the labor force. Wages in T&T aren't that good for the average person.

Guyana has to ensure that, should it become an energy exporting nation, that proceeds are transferred to other sectors, to allow less of the distortions that one sees in Trinidad.

And I can say the same for Venezuela, and in fact some will argue that the average Nigerian became WORSE off, when that nation became a major oil exporter.

One can only hope that a new crop of leadership QUICKLY arises within the APNU/AFC because this current crop are seriously lacking when it comes to managing the economy.  No new ideas.  Both APNU and the AFC have been around long enough to have generated ideas, and they have been in power long enough to test whether these might be feasible, given the realities of Guyana.

Yet NOTHING!

Caribny My friend don't you forget that the exploration treaty was first signed by Janet Jagan in 2002 and renewed by Jagdeo in 2008.  This oil find was under the PPP government.  It ended up costing Jagdeo the election when he read their cards and did not concede on them lifting the lion's share of the profits.  They know they can outsmart Granger and make him a puppet. That is why we are here today with a coalition rule.

This is now 2015 and yet only now a major find, this because the PPP lacked the boldness to tell Venezuela to haul their asses.

Jagdeo lost the election because he ran based on racism and he mobilized a large turn out of blacks and mixed people, and alienated a small number of Indians who voted against him.

You cannot scream racist nonsense in a nation like Guyana and think that only those for whom this argument is being raised will hear.  The PPP called itself a "coolie party", and then screams that the election was rigged because more blacks turned out to vote than they anticipated.

I am well aware of T&T's problems. I was merely pointing out that there are benefits to be had from the oil industry operating in Guyana, contrary to the lie that Bibi is trying to sell. How the country chooses to use those benefits is another story as we are all aware that politicians can siphon away the profits or mismanage the economy.

Understood.

Bibi has a problem in that she cannot be objective. Oil under the PPP.. good.  Under APNU/AFC...bad.

Yes the exploratory agreements were signed under the PPP, but then the Hoyte reforms blocked the PPP from pursuing its Marxist Leninist dreams, thereby enabling some recovery from the Burnham disaster.  But for Hoyte, Guyana would have been like Cuba of 20 years ago.