ExxonMobil hoping to build on Liza success

first_imgUnited States oil giant ExxonMobil is preparing to head to the next prospect on its sprawling holdings off Guyana, which have the potential to be even bigger than the massive Liza discovery.The US super major and its partners are targeting the large Skipjack prospect following the success of the Liza 2 appraisal well, it has confirmed.The Texas-based company has received approval to move the drillship Stena Carron about 24 miles (39 kilometres) to the north-west of the original Liza 1 discovery to spud Skipjack this month.It has confirmed too that the Stena Carron is still at the Liza 2 location and has not yet been mobilised to Skipjack.The operation was given approval to commence on July 1, according to a notice published by Guyana’s Maritime Administration Department (MARAD). It said it would spud the new well this month.There had been some speculation that the company would target the Jurassic-aged Ranger prospect for its next wildcat well, which is a different ‘play’ concept to the Upper Cretaceous Liza discovery.A second Liza look-alike dubbed Payara, which lies about 19 miles to the north-west of Liza 1, could also be in the drilling queue through the end of this year.Sources familiar with the geology in the vast Guyana-Suriname basin called the Skipjack prospect a look-alike to Liza, reiterating comments previously made by executives at ExxonMobil’s partner Hess that the Stabroek block contained numerous structures with similar attributes as Liza.But they noted that the aerial extent of the Skipjack prospect was even larger than Liza’s, which is now the biggest oil find of last year and may be larger than the biggest oil discovery ever in the US Gulf of Mexico – BP’s one-billion-barrel Thunderhorse field.The Liza-2 well had confirmed “a world-class discovery” on the Stabroek block, with estimated potential recoverable resources of between 800 million barrels of oil equivalent and 1.4 billion barrels, ExxonMobil said earlier this month.The appraisal well struck more than 190 feet of oil-bearing sandstone reservoirs in Upper Cretaceous formations.The test confirmed high-quality oil, ExxonMobil said. Sources familiar with the appraisal programme indicated that the core was bleeding oil when it was pulled to the surface.The appraisal well was drilled about two miles from the Liza-1 discovery drilled in 2015.The well was drilled to 17,963 feet in 551 feet of water using the drillship Stena Carron.ExxonMobil performed a drill stem test on the Liza 2, which is expected to help the supermajor decide on how best to develop the find.The companies are said to be looking at both an early floating production system with capacity of around 60,000 barrels per day (bpd) of oil that could be online in 2018 and another, larger floating production, storage and offloading vessel with capacity of around 120,000 bpd to 150,000 bpd for full field development.SBM Offshore and Modec have been shortlisted by the supermajor to provide front-end engineering and design studies.ExxonMobil operates Liza on the Stabroek block with a 45 per cent stake with Hess holding 30 per cent and China National Offshore Oil Corporation-owned Nexen with 25 per cent.While deepwater drilling and development has fallen out of favour with many companies due to its high costs and long-cycle investments, analysts said the Liza find could have very competitive economics.Analysts at investment bank Goldman Sachs estimated that Liza has a breakeven oil price of between US$45 and US$50 and their counterparts at investment bank Tudor Pickering Holt said they believe the breakeven could be below US$45.last_img read more

Liberia, EU Sign €279m for Development

first_imgLiberia and the European Union (EU) have signed a €279 million development package under the European Union National Indicative Program (NIP) for EU 11th Development Cooperation in Liberia.The EU cooperation program with Liberia, which covers 2014 to 2020, will seek to address key priority areas that are essential to growth and recovery from the medium to the long-term.According to a dispatch from Brussels, Belgium, at the ceremony, which was witnessed by President Ellen Johnson Sirleaf, Liberia’s National Authorizing Officer and Finance and Development Planning Minister, Amara M. Konneh, signed on behalf of the Liberian Government while the European Union Commissioner for International Development, Neven Mimica signed on behalf of the EU. The event took place on the sidelines of the high-level international conference on Ebola.EU Commissioner Mimica, in brief remarks, said the signing signifies the EU’s strong commitment to promoting stability and reconciliation as well as equitable and inclusive development in Liberia. He said the EU’s support targets important areas for sustainable development and growth and stressed the continuation of EU and Liberia’s long-term partnership.Under the Governance Pillar, the EU cooperation will support the overall improvement of the management of the public sector and also address the ability to deliver services as well as focus on the consolidation of peace, democracy, the rule of law and security.In the area of Energy, the program aims to improve access to sustainable and affordable electricity for the general population and for productive activities.The program also seeks to improve the quality of education, equity and accessibility of basic education and technical and vocational education and training; agriculture sustainability, increased agriculture productivity and added value, including improved access to domestic and international markets, and developing nutrition-sensitive production systems.The NIP represents an important step in programming of EU aid with African, Caribbean and Pacific countries through its 11th European Development Fund. The NIPs define the strategies and priorities for EU aid in each country which is done in close cooperation with the partner countries so as to ensure that they support national priorities and reflect the local context.The policy is in line with the EU’s vision for future development cooperation, which calls for resources to be targeted where they are most needed and can be most effective.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Gov’t to Boost Fisheries, Aquaculture Sector

first_imgThe Minister of Agriculture Dr. Moses Zinnah says the government and partners will improve fisheries and aquaculture sectors to boost the economy.Speaking at the opening of a two day draft revised fisheries and aquaculture regulations validation workshop yesterday in Monrovia, Dr. Zinnah was confident that investment in the fisheries and aquaculture sectors will improve the livelihood of citizens involved in the trade.Dr. Zinnah said it is estimated that more than half of Liberia’s population live along its 570 km coastline and are dependent or partially dependent on fishing as a livelihood.He said the reform process in the fisheries sector started in 2011 with the preparation of the first comprehensive fisheries and aquaculture policy and strategy which was adopted by the Cabinet on June 8, 2015.“Subsequently the draft fisheries and aquaculture act and the revised fisheries regulations are before the legislature and I hope that it is passed into law,” Dr. Zinnah saidHe said the passage of this law will contribute to improving the fisheries and aquaculture sectors and generate more income.According to him, the average fish consumption per capita in Liberia is only 4kg,which is far lower than the 17kg for other coastal states in sub-Sahara Africa and 22kg for the global average, leaving a fish supply deficit in the country of 48,000 tons per annum to supplement the current fish production levels from marine sources.“Before the civil war, the potential yield of marine fisheries resources was estimated at 150,000 tons per year of which less than 10,000 tons was exploited legally on an annual basis from both the industrial and artisanal fisheries,” he said. A substantial part of this potential was subjected to illegal fishing by foreign vessels, resulting to an estimated annual revenue loss of about US$12million to the country, Dr. Zinnah added.He said for decades there was the lack of a long term vision for the fisheries sector as well as the institutional structure to implement the necessary changes. A national monitoring, control and surveillance (MCS) strategy to support policy to the socio-economic development of Liberia was also lacking.This situation, he said, persisted because of an outdated legal framework by the Natural Resources Law of 1957 that did not capture any of the significant and emerging changes in the international fisheries management arena.He also explained that the fisheries resources have been an open access for all for decades, resulting in the proliferation of illegal fishing activities, dwindling fish stocks and loss. “However, there is no better time than now for us to arm ourselves with the right weaponry to defend, protect, conserve and sustainably utilize the fisheries resource of Liberia for the benefit of the unborn generations,” urged Dr. Zinnah.The Assistant Minister for Coast Guard Affairs at the Ministry of Defense, Timothy Grandoe, in his remarks said the economic situation in the country depends on the fishery sector because it can be effective when regulatory laws are enforced.“The limitation of logistics,” he said, “remains a challenge but the Ministry through the Coast Guard will work with the MOA to boost the fisheries sector.” The president of the Liberia Artisanal Fishermen’s Association (LAFA), Patrick Nyentee, appealed for policy that will regulate the operations of the sector.“As fishermen, we need a policy to regulate the protection of the sea to enable us to work smoothly in helping the government to move the sector forward to benefit everyone,” Mr. Nyentee said.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Minibus divers charged for brothers’ deaths

first_imgDen Amstel accidentThe two minibus drivers who are accused of being responsible for the fatal accident that occurred on June 26 at Den Amstel, West Coast Demerara and claimed the lives of two brothers were each slapped with two counts of causing death by dangerous driving.Devon Headley and Mohendra Rambowar both denied the charges after it was read to them by Magistrate Dylon Best in the Wales Magistrate’s Court onThursday.Headley and Rambowar were released on $150,000 for each charge. The matter is expected to continue on September 12.Shemon West, 28, and Shalum Allen, 19, of Lot 8-9 Fellowship, WCD were returning home on a pedal cycle from the Leonora Police Station after uplifting car documents when they met their demise.Preliminary investigations revealed that minibus BVV 8882 had stopped on the Den Amstel public to put off passengers, and as the two brothers were in the process of overtaking it, the vehicle suddenly drove off.However, in the process, its right-side front hit the left handle bar of the bicycle, thus causing the two brothers to fall onto the roadway. It was at this time that another minibus, BVV 7042, which was heading in the opposite direction, drove over them.The teen reportedly died on the spot, while his older brother, a father of two, succumbed at the Leonora Cottage Hospital.last_img read more

Funding request presentations wrap-up on Monday

first_imgPhoto: Tourism committee members Erika Lange (right) and Darren Thomson present their funding request at Monday night’s Committee of the Whole meeting – Christine Rumleskie/Energeticcity.caMonday was the last day that City Council listened to grant-in-aid funding requests from local non-profit organizations.City Council heard two delegations on Monday afternoon, both asking for an increase of funding from last year.- Advertisement -Representatives from the North Peace Cultural Society are asking for $50,000 more from last year, and if granted, would bring their funding to $300,000. These funds would enable the Society to maintain current programs and facility maintenance. It would also allow for an increase of pay to staff each year, at a rate of roughly 3%.Representatives from the Tourism Fort St. John board also presented their funding request on Monday. Last year, the board received $5,000. For 2010, the board is requesting $10,830.The board has a six-goal strategic plan that plans to move tourism forward in the next three years. In order, the goals are: Promoting tourism, improving tourist attractions, improving tourism services, product development and improved tourism infrastructure and financial sustainability.The strategic plan is estimated to cost around $32,500, and will be carried out until 2012.  Advertisement Meanwhile, City Council will consider each funding request during the 2010 budget deliberations.With the 22 delegations that presented to council this month, the 2010 funding requests increased by $306,535.16. Many non-profits cited operational costs and increased advertisement endeavors as the need for more funding.last_img read more

Wembley to host Euro 2020 semi-final and final

first_img1 England has won the right to host the final and semi-finals of Euro 2020.London’s Wembley Stadium will stage the climax of the European Championship, the first time a major football tournament has been held in England since Euro 96.UEFA’s executive committee awarded the final to Wembley ahead of Munich’s Allianz Arena at a meeting in Geneva.Scotland and Ireland will host matches, but there was bitter disappointment for Wales who missed out in their bid for games at Cardiff’s Millennium Stadium.UEFA is staging the tournament in 13 cities across Europe to mark the 60th anniversary of the first European Championships.Glasgow’s Hampden Park and Dublin’s Aviva Stadium will both hold three group games and a last-16 game.The quarter-finals and three group matches will be held in Munich, Baku, Rome and St Petersburg. The other host cities, which will hold three group games and a last-16 game, are Copenhagen, Bucharest, Amsterdam, Bilbao, Budapest and Brussels.FINAL AND SEMI-FINALSWembley Stadium, EnglandTHREE GROUP GAMES AND ONE QUARTER-FINALBaku, AzerbaijanMunich, GermanyRome, ItalySt Petersburg, RussiaTHREE GROUP GAMES AND ONE LAST 16 MATCHDublin, Republic of IrelandGlasgow, ScotlandCopenhagen, DenmarkBucharest, RomaniaAmsterdam, HollandBilbao, SpainBudapest, HungaryBrussels, Belgium Wembley Stadium last_img read more

Juventus quash reports Pogba set for £70m-plus move back to Man United

first_img Paul Pogba 1 Juventus general director Giuseppe Marotta insists the club have no interest in selling Paul Pogba.Recent reports have suggested Manchester United are planning a stunning £70million-plus move to take the midfielder back to Old Trafford in the summer.Pogba has emerged as one of the most highly-rated midfielders in the world since leaving Manchester for Turin on a free transfer two years ago, and Louis van Gaal is said to be desperate to lure him back to the club.Arsenal, Chelsea and Manchester City have also been credited with an interest in the 21-year-old, as have big-spending French champions Paris Saint-Germain.But Marotta says the club have no plans to lose the player, who was key to Juve’s third successive Scudetto triumph last season.“What was a promising player has become a reality,” said Marotta, speaking on Sky Italia.“Every European club is watching him and have been in contact with us. We, however, want to have a strong team made up of champions.“We have an important player in Pogba and we don’t have a need to sell him.”last_img read more


first_imgA Co Donegal man has pleaded guilty to three counts of sexual assault when he appeared at Letterkenny Circuit Court today.Letterkenny Court.The man, who cannot be named to protect the identity of his victim, admitted to the offences which took place between November 1st, 2000 and January 18th, 2002. The court was told the man has no previous convictions.Judge John O’Hagan ordered that the man be placed on the sex offender’s register.He released him on his own bail for sentence in January next and ordered that the man undergo a probation and welfare report.He also invited the man’s victim to appear in court to provide a personal or hand-written victim impact statement.MAN PLEADS GUILTY TO THREE COUNTS OF SEXUAL ASSAULT was last modified: July 28th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

Red Bluff falls in Oroville tournament championship to Lassen

first_imgOroville >> Every time the Red Bluff High boys basketball team would make a run or answer a Lassen field goal, the Grizzlies would have an immediate response. Usually it came off the hand of Wyatt Del Carlo or Wyatt Martin as the two combined for 40 points to lead Lassen to the 65-56 win over Red Bluff in the 24th Dennis Burnum Tournament final hosted by Oroville Saturday night. “We didn’t have enough good stretches,” Red Bluff coach Pablo Vazquez said. “There were times where we played …last_img read more

From John Madden to Jon Gruden, ‘Hard Knocks’ examines Raiders’ affection for blocking sled

first_imgThe final scene in the first installment of the HBO series “Hard Knocks” focused on an unlikely subject: The seven-man blocking sled.A snoozer of a segment, right?Not so fast.Listening to Raiders coach Jon Gruden and former Raiders coach John Madden (through the magic of archived video), makes you think that if the distinct black shield had never come along, the Raiders’ logo would have been a seven-man sled. “That’s the first thing we used to do,” Madden said in 2000. “We’d start …last_img read more