News

Staatsolie, the state-owned oil company of Suriname, could participate with up to 20% in the development of the inaugural field development within Block 58, the company announced.  The arrangement aligns with the model production sharing contract, wherein the Surinamese state...

As the Guyana Government edges closer to concluding its inaugural audit of ExxonMobil Guyana Limited's Stabroek Block expenses totalling US$1.7B, a hefty US$214M in disputed costs has been deemed the final sum. This development could push both local authorities...

President of Guyana Dr. Mohamed Irfaan Ali and Vice President Dr. Bharrat Jagdeo say the government is pleased with the interest shown in the country's first offshore licensing round, despite receiving bids for only eight out of the 14...

Guyana is presenting a golden opportunity for major international brands to tap into its growing retail market. Arick Wierson, a political and business columnist for CNN, Observer, CNBC, and Vice, highlighted this untapped potential in a recent article for...

The FPSO Sepetiba, a floating production, storage, and offloading (FPSO) platform, has arrived in Brazil from China. After undergoing necessary legal and technical procedures, the FPSO will be deployed to the Mero field in the Santos basin's Libra section.  This...

A key provision in ExxonMobil’s permit for the massive Yellowtail project offshore Guyana requires the company to have a capping stack maintained, tested, and stored in country. And this, according to Exxon’s Project Manager, Anthony Jackson, should be considered...

The oil cartel, Organisation of Petroleum Exporting Countries (OPEC), and South America’s new oil producer, Guyana, do not see eye to eye on production policies and for that reason, the country is not interested in becoming a member.  Its President,...

In the wake of Saudi Arabia's recent announcement to extend its voluntary one million barrels per day (b/d) production cut through the end of this year, the US Energy Information Administration (EIA) anticipates a reduction in global oil inventories...

Deepwater oil development offshore Suriname is finally coming. TotalEnergies on Sept. 13 announced plans to plug US$9 billion in a Block 58 development to extract the massive oil finds hidden in the Sapakara South and Krabdagu fields - close to...

Guyana’s National Procurement and Tender Administration Board (NPTAB) opened bid documents from six groups vying for the country’s offshore oil blocks. Majors ExxonMobil and TotalEnergies, which already have interests in the jurisdiction, are among the set.  The groups are: 1. TotalEnergies,...