News

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...

The economic landscape of Guyana is shifting rapidly, driven by expanding sectors far beyond the notable oil and gas industry. President Dr. Mohamed Irfaan Ali has emphasized the need for a transformative approach in banking to keep pace with...

The Local Content Summit kicks off today with Guyana President, Dr. Irfaan Ali set to deliver the feature address at the event.  With a thematic focus on "Creating Value, Driving Economic Expansion," the Summit is designed to delve into critical...

ExxonMobil’s newly approved Whiptail project is expected to produce oil from reservoirs shared between the Whiptail license area and those of two other Stabroek Block projects (Yellowtail and Uaru).  According to the Whiptail production license, Exxon notified the government that...

TechnipFMC has been awarded a large contract in Guyana’s Stabroek Block by ExxonMobil Guyana to supply subsea production systems for the Whiptail project. The contract value is between US$500 million and US$1 billion. This follows the greenlighting of the project...

Iran unleashed a barrage of over 300 drones and missiles on Israel over the weekend, marking the first direct assault on Israeli soil from Iranian territory. Jorge León, Senior Vice President at Rystad Energy, described this as an “unprecedented...