News

Offshore engineering, procurement, and construction (EPC) investments for 2023 are set to reach a staggering total of US$62.5 billion, with US$29 billion already awarded, and an additional US$33.3 billion anticipated for the remainder of the year, according to Westwood...

Ithaca Energy Partners, an umbrella supply chain execution platform for Guyana's Oil and Gas industry, is investing US$4.5 million in a 40,000 square-foot warehouse at Prospect, East Bank Demerara. ExxonMobil has been looking for warehousing facilities to support its...

Guyana’s Ministry of Natural Resources has stated categorically that its actions concerning the country's first-ever offshore licensing round are in full compliance with the law. The statement follows reports from local publication, Kaieteur News, which suggested that the government is...

SBM Offshore has hit a new milestone under its Engineering, Procurement, Construction, and Installation scope. The company announced on Thursday that it has successfully installed three floating wind units for the Provence Grand Large pilot project located 17 kilometers...

Westwood Global Energy Group has released its 2023-2027 subsea tree demand outlook, projecting a total demand of approximately 1,555 units over this period. Notably, Brazil, Guyana, and Norway are expected to account for roughly 40% of the global demand...

Trinidad and Tobago's Minister of Energy Stuart Young announced on October 9 that negotiations are underway to secure gas supply from the Loran side of the Loran/Manatee gas field shared by Venezuela and the twin island republic nation.  Speaking during...

Subsea solutions provider, Oceaneering, has inked a five-year contract with Petrobras, potentially valued at up to US$75 million. The contract will be managed by Oceaneering's Brazilian subsidiary, Marine Production Systems, and focuses on the operation of three existing drill...

ExxonMobil Corporation and Texas-based hydrocarbon explorer, Pioneer Natural Resources, have announced a definitive agreement for Exxon to acquire Pioneer in an all-stock transaction valued at US$59.5 billion, equivalent to US$253 per share based on Exxon's closing price on October...

A deluge of massive infrastructure projects and building programmes is underway in South America's newest oil producing nation, Guyana. This growth surge is seeing a huge demand for energy which authorities say will continue to increase. But a recent...

In a world grappling with economic uncertainties, Guyana’s growth continues to be in a league of its own. The latest World Economic Outlook report, published by the International Monetary Fund (IMF) on October 10 themed "Navigating Global Divergences", projects...