article thumbnail

U.S. Oil Giants Fight Over Guyana’s 11-Billion Barrel Treasure Trove

OilPrice

supermajors ExxonMobil and Chevron regarding their rights to one of the worlds most lucrative oil projects. Guyanas Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. This week, a private arbitration panel in London began hearing the arguments of U.S.

Barrel 306
article thumbnail

Kazakhstan’s Giant Kashagan Oilfield to Hit 1 Billion Barrels Production Soon

OilPrice

Kashagan is located in the North Caspian Sea in Kazakhstan and is one of the biggest oil discoveries globally of the past 50 years. The oilfield has approximately 35 billion barrels of oil in place, of which nearly half are estimated to be recoverable.

Barrel 162
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

BW Energy announces substantial oil discovery at Bourdon field offshore Gabon

Oilfield Technology

BW Energy is pleased to announce that second sidetrack DBM-1 ST2 well has confirmed the substantial oil discovery with good reservoir and fluid quality of the Bourdon prospect in the Dussafu Licence offshore Gabon, announced on 7 March 2025.

article thumbnail

U.S. oil giants fight over Guyana’s 11-billion barrel treasure trove

Oil & Gas 360º

(Oil Price) –This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the worlds most lucrative oil projects. Hess Corp, and CNOOC of China.

Barrel 130
article thumbnail

ExxonMobil CEO Darren Woods on Doubling Recovery Rates and the Future of Fracking

Oil Gas Leads

oil and gas production, but its far from perfect. In fact, the industry typically recovers only 5% to 10% of the oil in place from shale reservoirs. The Problem: Low Recovery Rates in Shale Fracking has revolutionized U.S. That leaves a tremendous amount of hydrocarbons untapped.

article thumbnail

Oil Review Middle East - Untitled Article

Oil Review Middle East

The company says its strong relationship with NOC, going back to 2017, was a key factor in retaining the contract, along with its record of past performance, knowledge of NOCs assets and availability of resource within the country.

Field 40