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The oil and gas exploration activity by Guyana created a new source of tension with neighboring Venezuela. The 2015 discovery set off a round of recriminations between Venezuela and its eastern border neighbor. Officials in Caracas, which has long had claims on Guyana's Essequibo region, have alleged that the concession is located in disputed ...
The companies announced their discovery of an oil and gas reservoir off the coast of Guyana last month, with the Kawa-1 well in the Corentyne block finding about 177 feet (54 meters) of ...
Frontera is the majority shareholder of CGX and its joint venture partner in the exploration of Corentyne block, offshore Guyana. Its Kawa-1 well found approximately 177 feet (54 meters) of ...
Guyana increased crude oil production by an annual average of 98,000 b/d from 2020 to 2023, making it the third-fastest growing non-OPEC producing country during this period. The expansion of this sector has significantly contributed to the national economy, with the petroleum industry driving a 62.3 percent GDP growth in 2022, the highest ...
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In 2015, Venezuela accused ExxonMobil of breaching international law while drilling for oil in Guyana, and a minor crisis broke out wherein Guyanese authorities seized a Venezuelan vessel, the Yakuana, in Guyanas's territorial waters, with both parts demanding an explanation for the other; they later agreed to meet to try to improve ...
CGX Energy Inc. (TSXV: OYL) (OTC: CGXEF) and Frontera Energy Corp (TSX: FEC) (OTC: FECCF) have successfully discovered light oil in the Santonian and Coniacian and gas condensate in the ...
Guyana has opened bids for 14 offshore oil blocks available for exploration and development as the South American country seeks to ramp up oil production. Six companies and groups submitted bids ...