News

Saipem field development ship conducting installation for Exxon’s next big oil project

The Saipem FDS2 vessel is engaged in installation activities offshore Guyana, in support of ExxonMobil’s massive Yellowtail development project, according to an update from Guyana’s Maritime Administration Department.  The vessel is expected to operate through 2024 in anticipation of production...

Guyana opposition official believes Exxon discovered as much as 30 billion barrels 

In the wake of ExxonMobil's recent revelation of yet another oil discovery in the Stabroek Block, an Alliance for Change (AFC) party official has expressed the belief that the company has discovered way more oil and gas than is...

CNOOC said it found 100 million tons of oil equivalent in major Bohai Sea oil field

CNOOC Limited announced a major oil field discovery at the Qinhuangdao 27-3 in Bohai Sea, adding over a hundred million tons of oil equivalent proved in-place volume, in a March 18 update. Qinhuangdao 27-3 is located in the north-central waters...

Nine big companies vying for farm-in to Orinduik Block – Gil Holzman

Chief Executive Officer (CEO) at Eco (Atlantic) Oil & Gas, Gil Holzman said there are nine companies vying to farm into the Orinduik Block.  “We are planning to finalise this process hopefully in the next couple of months. Depends on...

Local Content Summit returns in April to ‘Create Value, Drive Expansion’

Following the success of the inaugural Local Content Summit in 2023, the 2024 Summit is set to take place on April 16, 2024, at the prestigious Pegasus Suites and Corporate Centre. With the theme “Creating Value. Driving Economic Expansion,”...

Ultra-deepwater rig shortage escalates, rates soar – Wood Mackenzie

Wood Mackenzie, a leading energy research and consultancy firm, has reported a shortage of ultra-deepwater (UDW) rigs and its significant impact on the industry.  According to the report, the supply chain strain has led to an extreme scarcity of UDW...

US, Guyana oil output surge aids global supply amid OPEC cuts – EIA

U.S. crude oil production is set to outpace previous expectations, reaching 13.19 million barrels per day (b/d) this year, a slight increase from the initial projection of 13.1 million b/d, according to the Energy Information Administration's (EIA) Short-Term Energy...

Oceaneering invests in cutting-edge technology to revolutionize subsea geotechnical surveying

Oceaneering International recently made an advancement in subsea geotechnical surveying by placing an order with UK-based Feritech Global for an auto-drop piston corer. It said the next-generation equipment is anticipated to revolutionize the process of extracting sediment samples from...

Stabroek Block co-venturers expand training to more technical institutes

The Greater Guyana Initiative (GGI), in partnership with the Ministry of Education, Council for Technical and Vocational Education Training (C-TVET), and LearnCorp International, has launched Phase II of its technical and vocational training program across Guyana.  Building upon the success...

G-PORT says workforce now 100% Guyanese

G-Port, a joint venture (JV) between the Lousiana-based Edison Chouest and John Fernandes, now boasts a workforce that is 100% Guyanese.  That update was provided by Edison Chouest’s Business Development Officer, Daniel Lafont speaking exclusively to OilNOW on March 14....

Latest News

Saipem field development ship conducting installation for Exxon’s next big oil project

The Saipem FDS2 vessel is engaged in installation activities offshore Guyana, in support of ExxonMobil’s massive Yellowtail development project,...