Caribbean oil discoveries trigger big offshore technology contracts

Crude oil tanker. Image: Roel Hemkes
Oil and gas

From Offshore Support Journal, and article about the ongoing developments in offshore oil exploration in the Caribbean:

A string of deep-water discoveries in the Caribbean has triggered a torrent of activity in the offshore supply industry, as one nation after another invites the exploration industry to drill for hydrocarbons in the hope of making another bountiful find.

Following ExxonMobil’s discovery in 2015 of massive oil reservoirs off Guyana in the Liza field – a find that put the Caribbean back on the exploration map – other strikes have followed in quick succession. ExxonMobil has hit the jackpot no less than seven times, the latest coming in late February this year when it encountered another high-quality oil-bearing reservoir off Guyana. Experts now believe the waters off Guyana and Suriname, 365 km apart, could be the next big oil region.

Similarly, there are hopes that BP’s discoveries of gas in Trinidad and Tobago in August 2017 will elevate the country to the status of premier hydrocarbon-producing Caribbean nation. Not to be outdone, the Bahamas has invited international oil companies to explore for black gold in its own deep waters, while Jamaica has Tullow Oil searching its backyard.

The oil majors are deploying their heavy artillery in the Caribbean, as one discovery follows another.

Read the complete article for more.

Previously on Green Antilles: Oil, the environment, and the Caribbean.

[Image: Roel Hemkes]

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