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Wednesday, July 28, 2021

Latest News

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it sustained a net loss of...

BREAKING: Exxon makes another major oil discovery offshore Guyana

ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of...

Exxon seeking support vessels for Guyana operations

ExxonMobil Guyana plans to put in place an enabling agreement for the provision and operation of Multi-Purpose Support Vessels (MPSVs), Platform Support Vessels (PSVs),...

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore...

Company building Guyana FPSOs moving forward with floating wind project offshore UK

SBM Offshore announced on Tuesday that The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating...

Trending

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it sustained a net loss of...

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore...

BREAKING: Exxon makes another major oil discovery offshore Guyana

ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of...

Exxon seeking support vessels for Guyana operations

ExxonMobil Guyana plans to put in place an enabling agreement for the provision and operation of Multi-Purpose Support Vessels (MPSVs), Platform Support Vessels (PSVs),...
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OilNOW TV

Local Content

Guyana local content policy will be enshrined in law, Bharrat affirms

Guyana’s Minister of Natural Resources, Vickram Bharrat has assured that by the end of this year the government will commence putting into legislation its...

Tougher local content measures will be implemented if Guyanese are bypassed by oil companies, President warns

If Guyanese are bypassed by oil companies for jobs and business opportunities in the burgeoning petroleum sector, then the government would be forced to...

Competitors for oil and gas contracts are shrewd, Guyanese companies must learn to adapt – President Ali urges

Guyana’s Head of State, Dr. Irfaan Ali disclosed on Wednesday that local content provisions will be put in place to ensure competitive services provided...

Oil and gas technical training centre could help boost deficient human capacity in Guyana – Associate Professor

In its pursuit of a robust Local Content Policy, Guyana must be cognizant of its limited human resources while pushing for industry stakeholders to...
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Latest News

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it sustained a net loss of...

BREAKING: Exxon makes another major oil discovery offshore Guyana

ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of...

Exxon seeking support vessels for Guyana operations

ExxonMobil Guyana plans to put in place an enabling agreement for the provision and operation of Multi-Purpose Support Vessels (MPSVs), Platform Support Vessels (PSVs),...

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore...

Company building Guyana FPSOs moving forward with floating wind project offshore UK

SBM Offshore announced on Tuesday that The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating...

Petroleum Department staff expected to play major role in soon to be established Commission

Authorities in Guyana remain steadfast on bringing on stream the Petroleum Commission and Local Content Policy, two crucial elements of Guyana’s regulatory framework for...

Women-led businesses in Guyana determined to tap into growing economic opportunities

The economic transition being forecast for Guyana is bringing with it significant prospects and women entrepreneurs in the new oil producing country are determined...

Higher reservoir performance activities in Guyana help bump up Schlumberger Q2 revenue

Oilfield Services Company Schlumberger says its performance in the second quarter of 2021 marks a leap forward in achieving its full-year financial targets with...

Regional

Shell’s Barracuda Project delivers first gas in T&T

Shell Trinidad and Tobago says production has started on Block 5C in the East Coast Marine Area (ECMA) in...

New awards boost Suriname’s potential as major oil producing country, says Rystad Energy

The results of Suriname’s keenly watched shallow-water licensing round where three of the eight offered blocks were awarded to...

Pemex struggling to meet own goals as private companies hit production record

(S&P Global Platts)  Crude production by private operators in Mexico reached a new record in June as state oil...

Winners of Suriname bid round to submit exploration work programme – Jagesar

The companies that were successful in the recently concluded Suriname bid round are now to submit their exploration work...

Venezuela: The rise and fall of a petrostate

The Council on Foreign Relations Written by Amelia Cheatham and Rocio Cara Labrado Venezuela’s descent into economic and political chaos in...

Guyana and Brazil oil wells have high flow rates, best recovery – WoodMac

Future deepwater oil fields will enjoy twice the average estimated ultimate recovery (EUR) of fields already onstream and Guyana...

Two major projects in queue off South America’s hottest new basin

For the last decade no other frontier in the world has delivered the mega discoveries being made in the...

Guyana, Trinidad to establish Working Group on energy, investment

Guyana and its sister Caribbean country, Trinidad & Tobago are set to establish a Working Group on energy, investment,...

‘Even as we go green, monetising our hydrocarbon resources must be the priority’ – TT Energy Minister

Even as Trinidad and Tobago pursues green initiatives such as a solar utility project and the first world scale...

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Opinions

Effective Guyana-Suriname cross-border oil spill response crucial to region

By Dr. Lee Hunt – OilNOW On April 20, 2010, a critical failure of hydrocarbon containment occurred on the BP Macondo well 65 kilometers offshore the coast of Louisiana in the US Gulf of Mexico.  The event unfolded entirely within the US jurisdictional boundary.  That fact alone enabled a singular incident commander (US Coast Guard) to marshal and deploy resources required for emergency response, capture, containment, mitigation and, eventually, capping. Multiple aircraft and vessels were active...

Guyana should adopt a natural resources fund that mirrors Norway

By Arthur Deakin - OilNOW Historically, countries that discover large amounts of natural resources, such as oil or gold, tend to create a Sovereign Wealth...

Report on QC Alumni Association Oil and Gas Symposium, by Dr. Terrence R. Blackman

By Terrence R. Blackman, Ph.D. – OilNOW Part 1 On June 09, 2021, ExxonMobil announced newly identified, high-quality hydrocarbon-bearing reservoirs below the original Longtail-1 at Longtail-3...

Using oil to diversify Guyanese foreign policy – starting with India

By Wazim Mowla – OilNOW Amid increasing US rhetoric about competing with China in Latin America and the Caribbean, Guyana should use its newfound oil...

Guyana is lynchpin in southern Caribbean’s changing geopolitical landscape – Scott B. MacDonald

By Scott B. MacDonald - OilNOW In June 2021, Guyana was the host for Operation Tradewinds, a multinational military exercise, involving military forces from the...

Guyana

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it sustained a net loss of...

BREAKING: Exxon makes another major oil discovery offshore Guyana

ExxonMobil today said it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of...

Exxon seeking support vessels for Guyana operations

ExxonMobil Guyana plans to put in place an enabling agreement for the provision and operation of Multi-Purpose Support Vessels (MPSVs), Platform Support Vessels (PSVs),...

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore...

Petroleum Department staff expected to play major role in soon to be established Commission

Authorities in Guyana remain steadfast on bringing on stream the Petroleum Commission and Local Content Policy, two crucial elements of Guyana’s regulatory framework for...

Guyana moving forward with large-scale hydro project at remote waterfall

In addition to moving ahead with plans for a gas-to-energy project which is expected to start up in 2024, the Guyana government announced on...

Permits

Petroleum Contracts

GOG + EEPGL + CNOOC/NEXEN + HESS

GOG + CGX Energy

GOG + Ratio Energy

GOG + Tullow/Eco Atlantic

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Exploration

Multi-billion-dollar ‘Port of Vreed-en-Hoop’ facility in the works

Guyanese company NRG Holdings Inc. plans to establish a multi-billion-dollar multi-purpose port facility dubbed the ‘Port of Vreed-en-Hoop’ that will feature a major shore...

Shell’s Barracuda Project delivers first gas in T&T

Shell Trinidad and Tobago says production has started on Block 5C in the East Coast Marine Area (ECMA) in the twin island republic. This...

Exxon says goal is to have 75% Guyanese workforce on each FPSO

ExxonMobil Guyana says it has been pursuing various initiatives to ensure hundreds of Guyanese are able to take up leading roles in supporting the operations...

Winners of Suriname bid round to submit exploration work programme – Jagesar

The companies that were successful in the recently concluded Suriname bid round are now to submit their exploration work programme the head of state...

Discoveries

Guyana could find more oil, and closer to shoreline

Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one...

Guyana’s history with oil dates back centuries

The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until...

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them...

Production

Suriname production expected to hit 650,000 bpd by 2030

Consultancy group Rystad Energy estimates that the five offshore discoveries made so far in Suriname hold cumulative recoverable resources of around 1.9 billion barrels...

Guyana-Suriname Basin will be important to global energy transition – Hess VP Exploration

In order for the energy needs of the world to be met, upstream investments will have to significantly increase in the coming years. Deepwater...

Scale of resources, production potential at Suriname’s Block 58 “bigger than big” says APA official

All eyes are on Suriname’s Block 58 where four of the country’s five offshore discoveries have been made to date and the scale of...

Guyana and Suriname have reached ‘developmental take-off speed’ – analysts

Nestled on the north coast of South America, Guyana and Suriname are among the smallest of the countries on the continent. But with the...