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SBM Offshore said it has secured a US$250 million term loan facility to commence construction work on the Jaguar floating production, storage, and offloading (FPSO) vessel.  The tenor of the bridge loan is twelve months with an extension option for...

Subsea7 said the Pipeline Replacement Project 8 (PRP-8) offshore Brunei has been completed and delivered in line with Brunei Shell Petroleum Company (BSP) expectations. Shell and the Brunei government are 50:50 shareholders in BSP. PRP-8 is a turn-key project that...

State electricity company, Guyana Power and Light (GPL) has entered into a two-year contract with Urbacon Concessions Investments, W.L.L (UCI), as announced on April 13, 2024. The agreement involves the chartering of a power ship that boasts a considerable...

Trinidad and Tobago has made it clear that the Dragon Gas deal with Venezuela remains unaffected by the reinstated oil sanctions on the Spanish-speaking Republic.  In an April 17 statement, the Ministry of Energy and Energy Industries clarified that the...

At  12:01 am today, April 18, Washington made good on its promise to reinstate oil sanctions against Venezuela after President Nicolas Maduro dropped the ball on a deal made to promote a democratic electoral process in the Spanish-speaking Republic.  A...

MODEC has hired Norway’s Miko Marine to supply sea inlet covers to be carried aboard the Errea Wittu floating production, storage and offloading (FPSO) vessel destined for Guyana.  Miko said it got the contract from Offshore Frontier Solutions Pte. Ltd.,...

Guyana is expected to amend its Local Content law later this year, with a view of increasing the areas in which companies are mandated to utilise Guyanese goods and services. Guyana’s Attorney General discussed this during a question-and-answer segment...

Dutch manufacturer Strohm has secured its third and largest ever contract for pipe supply, to be provided for ExxonMobil's 250,000 barrels per day Whiptail development project offshore Guyana.  Strohm will supply its TCP (thermoplastic composite pipe) “Jumper on Demand” for...

The International Monetary Fund’s (IMF) April 2024 World Economic Outlook report revealed Guyana to be the only country in the Western Hemisphere that is forecasted to experience double-digit economic growth in 2024.  Themed ‘Steady But Slow: Resilience Amid Divergence’, the...

Guyana President Dr. Mohamed Irfaan Ali believes that 45 days after receipt of a correct invoice is too long a wait period for oil companies to pay their contractors. The President discussed the matter at the Local Content Summit...