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Guyana has already plugged US$100 million into Gas-to-Energy project – Jagdeo

Dr. Bharrat Jagdeo, Vice President of Guyana, said the government has contributed US$100 million from the treasury towards the Gas-to-Energy project. The project's total cost is $US1.8 billion of which Guyana will plug US$759 million. It aims to establish a facility...

Liza 2 was second highest producing project in South America in 2022 – GlobalData

Data analytics and information service, GlobalData, said ExxonMobil’s Liza Phase 2 project offshore Guyana had the second-highest oil and condensate production in South America in 2022. It expects the project to produce until 2043. Below is a chart showing the...

Dispute resolution crucial to Guyana’s ability to keep attracting investments

The stay of execution granted by an Appellate Court Judge on a recent High Court order will go down well for Guyana’s global reputation, says Vice President, Dr. Bharrat Jagdeo. The High Court’s order had compelled an ExxonMobil-led consortium...

Vreed-en-Hoop Port owner aims to eliminate reliance on foreign bases for Guyana operations

The Vreed-en-Hoop Shore Base (VEHSI) developers aim to create a state-of-the-art oil service facility that can essentially see Guyana relying less on outside help.  Director, Nick Boyer outlined in a recent update that VEHSI will have space for expansion to...

Judge orders Exxon to lodge US$2B oil spill guarantee, grants stay of execution on previous ruling

Guyana’s Appellate Court on Thursday granted ExxonMobil and its co-venturers a stay to the Supreme Court judgment that required it to provide an unlimited Parent Company Guarantee Agreement/or Affiliate Company Guarantee Agreement.  Failure to comply would have resulted in the...

Asset Managing Giants hold talks with Guyana on being part of oil development

Guyana’s remarkable oil developments have attracted the attention of Black Rock, the world’s largest asset manager, along with other American heavyweights like Bank of America. Top officials from these companies, as well as Hess Corporation, Capital Group, MFS Investment...

Suriname’s deepwater bid round closed

Suriname’s Staatsolie has announced the successful closure of its 2022-2023 Demerara Bid Round, where six blocks were up for grabs.  According to Staatsolie, it received qualified bids for three of the blocks offered from several companies and/or consortia.  “We thank all...

Unleashing Guyana’s Tech Potential: Insights from Industry Experts

By Dr. Terrence Blackman - OilNOW As Guyana experiences an unprecedented economic boom fueled by the oil and gas industry, industry experts have highlighted the country's tremendous opportunity to leverage this growth in the technology sector. The recently concluded...

Just a few squeaky wheels calling for end to hydrocarbons, says Trinidad Energy Minister

Stuart Young, Trinidad and Tobago's Minister of Energy and Energy Industries has argued in favour of a balanced approach to energy production, acknowledging the transition challenges to renewable energy sources and the essential role of hydrocarbon-based resources in the...

US$9.6M plaza to be built at Vreed-en-Hoop near to major port facility

GUYCAN INVESTORS GROUP INC. plans to invest GY$2 billion (approximately US$9.6 million) for the development of a plaza complex called SPECTRUM. The complex, to be situated at 14 Coglan Dam, Vreed-en-Hoop, West Coast Demerara, will include a restaurant, supermarket,...

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Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...