South America

JPT’s first year of publication was one of groundbreaking events that would transform the global petroleum industry. A recap of developments in 1949 emphasizes the high hopes attached to the industry—and the ambitious goals of the new magazine.

The supermajor will gain a 60% working interest and assume operatorship in the AREA OFF-1 block.

One of the world’s largest sustainable development agencies has worked with energy companies to quash opposition and keep oil flowing, even in sensitive areas.

Nations coming together with common interests and approaches to energy is a hallmark of the modern times. Nations in South America and the Caribbean are also joining the trend via strategic energy alliances as disclosed by the presidents of Guyana and Suriname at a recent conference in Suriname, Paramaribo.

Up to 10 FPSOs could be needed to fully develop the discovered resource base in the area.

ExxonMobil’s Kerry Moreland, a geoscientist, managed breakthrough discoveries in the early stage of her 15-year career that have positioned the company for decades to come in South America. Now she is pursuing similar goals in Africa and Asia Pacific, as she explains in a moderated interview at this week’s IPTC in Kuala Lumpur.

ExxonMobil submitted a proposal to Colombian authorities to develop a hydraulic fracturing pilot project in the Magdalena Basin. Colombia wants to drastically raise its declining reserves-to-production ratio by tapping into shale.

Take a look at these moonpool visitors.

The startup of the deepwater field marks the beginning of production from the massive Stabroek Block, which contains an estimated 6 billion BOE. ExxonMobil estimates that at least 5 FPSOs will be producing more than 750,000 BOPD from the Stabroek Block by 2025.

SBM Offshore began construction on the vessel following ExxonMobil’s sanction of the Liza Phase 2 development offshore Guyana in May. It is designed to produce 220,000 BOPD after it starts up in 2022.