Regional

US$100M to be invested in international oil and gas institute – Guyana President

Upskilling Guyanese to adequately service Guyana’s massively expanding oil and gas sector is a priority of the Dr. Mohamed Irfaan Ali-led government. In seeking to achieve this goal, President Ali announced Thursday that over US$100 million will be invested...

Caribbean’s top three state-owned energy companies enter pact in Suriname

Paramaribo, Suriname – On Tuesday, Suriname and Trinidad and Tobago (TT) further deepened the partnership between their energy sectors with the signing of a Memorandum of Understanding (MOU) between Staatsolie Maatschappij Suriname N.V. and TT state-owned energy companies – Paria Fuel...

Ramps says will meet Local Content Secretariat’s reasonable demands

Ramps Logistics says it will accede to document requests made by the Local Content Secretariat, in its bid to be placed on Guyana’s Local Content Register. It said this in a statement after receiving a letter from the Secretariat’s Director,...

Massive 30 billion barrels of oil now estimated offshore Suriname – Staatsolie VP

Paramaribo, Suriname – Suriname’s recent oil finds in Block 58 put the South American nation’s recoverable resource count at over five billion oil-equivalent barrels. But that number is merely a tiny fraction of what is believed to be held...

Suriname has ‘proud track record’ honouring contracts – oil Minister

Minister of Natural Resources for Suriname, David Abiamofo, said the nation is extremely proud of its track record in honouring contracts, including production sharing contracts. He made the comment during an interview with energy analyst from Americas Market Intelligence Arthur...

Gov’t warns Ramps it must submit documents that are not misleading

One day after it held a media conference demanding answers, Ramps was told by the Guyana Local Content Secretariat that the onus is on it, as an applicant, to submit documents that are not false or misleading. Ramps had applied...

With big offshore finds, Santokhi invites major influx of investors at Energy Summit

Paramaribo, Suriname - A brand-new chapter dawns for Suriname, quickly becoming one of the hottest new oil exploration destinations on the globe. And its President, Chandrikapersad Santokhi has opened the floodgates, inviting investors from all and sundry to help develop...

Norway-based E&P acquires Saipem’s US$73M FPSO to develop assets offshore Brazil

Shortly after snatching up two major deepwater blocks offshore Brazil, Norway-based BW Energy inked a deal with Saipem to acquire the Cidade de Vitoria oil vessel to develop the Golfinho cluster. According to BW, the deal amounts to US$73 million;...

Over 60% of Suriname’s deepwater acreage remain unlicensed; new bid round nears

Suriname’s state oil company, Staatsolie is set to auction off several deepwater blocks this year with another bid round reportedly planned for the shallow blocks by mid-2023. “We are very excited about the prospects of releasing further offshore acreage,” Annand Jagesar,...

As Petrobras divests, Norway-based E&P snatches up deepwater blocks

Norway’s BW Energy has reached an agreement with Brazil’s state-owned Petrobras to acquire two of its major deepwater clusters – Golfinho and Camarupim – in a deal costing up to US$75 million. The sale is part of Petrobras' strategy to divest assets and focus...

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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...