ExxonMobil Announces 13th Oil Discovery Offshore Guyana

Recently, ExxonMobil – one of the world’s largest publicly traded international oil and gas companies – announced its new oil discovery at the Yellowtail- 1 well offshore Guyana.

The recent discovery marks the 13th on the block, where ExxonMobil is evaluating its potential as a development hub.

Having previously announced there is potential for at least five floating productions on the Stabroek Block producing more than 750,000 barrels of oil per day by 2025, development is on track to begin by the first quarter of 2020 and is expected to produce up to 120,000 barrels of oil per day.

We are looking forward to seeing more updates on this new discovery.

BP Approves New Expansion at giant Gulf of Mexico Thunder Horse Field

British oil giant BP, has approved the latest expansion to its Thunder Horse platform in the deepwater Gulf of Mexico.

The project will further boost output at one of the region’s largest fields which has the capacity to produce 250,000 barrels of crude oil and 200 million cubic feet of natural gas per day.

Developed with co-owner ExxonMobil, the Thunder Horse South Expansion will see the installation of two new subsea production units and eventually eight wells will be drilled as part of the overall development. The cost of the project – which is pigeon-holed as major – is yet to be disclosed.

Over the years, BP’s net production in the Gulf of Mexico has increased by more than 60%, rising from less than 200,000 barrels of oil equivalent per day in 2013 to more than 300,000 today.

This latest announcement adds to a list of new activities in the US Gulf and other projects that are set to be significant in the oil and gas industry.

PPE in the running for Exporting Company of the Year

We are extremely proud to be representing Teesside at the grand final of the North East Business Awards tomorrow.

The ceremony – held at Hardwick Hall Hotel – brings together all winners from the heats to celebrate the very best businesses throughout the North East.

We were crowned winners in the Teesside heats and will join Nano-Purification Solutions Ltd, winner of the Northumberland and Tyneside heats and Katy Sue Designs Ltd, winner of the Durham, Sunderland and South Tyneside heats in the running for the overall Export champion in the region.

In determining the North East’s Exporting company of the year, the judges will consider various factors including the level of exports in relation to the size of the company as well as any barriers that the business has had to overcome, and their position in comparison to the other heat winners.

Good luck to all nominees, we’re looking forward to catching up with familiar faces and having a lot of talented and inspiring businesses in one room again!