Latest News
Tullow to plug over 90% of expenditure in West Africa, will continue to evaluate Guyana acreage
UK-based Tullow Oil will be unveiling a new strategy and plan to generate c. $7 billion of operating cashflow over the next 10 years...
Joint billion-dollar-plus Guyana-Suriname deepwater harbour on the cards
With massive volumes of hydrocarbons being found in the Guyana-Suriname basin in recent years, development of these resources will require significant shorebase support services...
Orinduik block partners reviewing multiple light, sweet targets for 2021 drill plans
Eco (Atlantic) Oil and Gas Ltd announced Tuesday via its unaudited results for the six months ended September 30, 2020, that multiple light, sweet, oil...
South America’s new O&G deepwater players positioning for big opportunities
The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on strengthening bilateral relations and solidifying...
U.S hedge fund plugs US$30 million into junior firm with stake in Kaieteur block
(Reuters) - Activist hedge fund Elliott Management Corp has invested at least $30 million in Cataleya Energy, a small firm focused on oil exploration...
Trending
Orinduik block partners reviewing multiple light, sweet targets for 2021 drill plans
Eco (Atlantic) Oil and Gas Ltd announced Tuesday via its unaudited results for the six months ended September 30, 2020, that multiple light, sweet, oil...
Tullow to plug over 90% of expenditure in West Africa, will continue to evaluate Guyana acreage
UK-based Tullow Oil will be unveiling a new strategy and plan to generate c. $7 billion of operating cashflow over the next 10 years...
South America’s new O&G deepwater players positioning for big opportunities
The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on strengthening bilateral relations and solidifying...
Joint billion-dollar-plus Guyana-Suriname deepwater harbour on the cards
With massive volumes of hydrocarbons being found in the Guyana-Suriname basin in recent years, development of these resources will require significant shorebase support services...
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Local Content
Instead of strict requirements, Guyana could incentivize companies to achieve local content targets – Dr. Marcel
When oil producing nations pursue the development of a local content policy, one of the challenges that often emerges, is striking the balance between...
News
Consultations on new local content framework in Guyana set for this month
The newly appointed Advisory Panel on Local Content in Guyana will begin reaching out to key stakeholders this month as work continues...
News
Guyana Local Content Panel looking to begin consultations – Vickram Bharrat
Guyana’s Minister of Natural Resources Vickram Bharrat said on Tuesday that the recently appointed Local Content Advisory Panel has already commenced work...
News
Local content legislation for Guyana Parliament by year-end
Draft local content legislation should be ready for Parliament by the end of the year in South America’s newest oil producing nation...
News
Start date, scope for review of Guyana local content policy to be worked out – Energy Consultant
Trinidadian energy consultant Anthony Paul says details for his engagement with the Government of Guyana to review the country’s Local Content Policy are being...
News
Guyana’s Local Content Policy for review
Guyana’s Minister of Natural Resources, Vickram Bharrat, says the newly installed PPP/C government will take steps to review and amend the Local Content Policy...
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Latest News
Tullow to plug over 90% of expenditure in West Africa, will continue to evaluate Guyana acreage
UK-based Tullow Oil will be unveiling a new strategy and plan to generate c. $7 billion of operating cashflow over the next 10 years...
News
Joint billion-dollar-plus Guyana-Suriname deepwater harbour on the cards
With massive volumes of hydrocarbons being found in the Guyana-Suriname basin in recent years, development of these resources will require significant shorebase support services...
News
Orinduik block partners reviewing multiple light, sweet targets for 2021 drill plans
Eco (Atlantic) Oil and Gas Ltd announced Tuesday via its unaudited results for the six months ended September 30, 2020, that multiple light, sweet, oil...
News
South America’s new O&G deepwater players positioning for big opportunities
The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on strengthening bilateral relations and solidifying...
News
U.S hedge fund plugs US$30 million into junior firm with stake in Kaieteur block
(Reuters) - Activist hedge fund Elliott Management Corp has invested at least $30 million in Cataleya Energy, a small firm focused on oil exploration...
News
Oil hits highest since March on vaccine trials, Biden transition
(Reuters) - Oil rose more than $1 a barrel to its highest levels since March as a third promising coronavirus vaccine raised hope for...
News
Total contracts Maersk Drilling for two-rig campaign offshore Suriname
Maersk Drilling has received a Conditional Letter of Award (CLOA) from Total E&P Suriname, Suriname Branch for the supply of two deepwater rigs, Mærsk...
News
Baker Hughes plugging over US$8 million into Oilfield Service Facility in Guyana
American international industrial service company, Baker Hughes, is moving to set up an Oilfield Service Facility at Land of Canaan on the East Bank...
Regional
South America’s new O&G deepwater players positioning for big opportunities
The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on...
Corentyne River Bridge on agenda as Guyana President makes first state visit to Suriname
Guyana’s President, Dr Mohamed Irfaan Ali, has arrived in Suriname for a state visit over the period November 23...
Suriname offshore breakeven expected to go down with more discoveries
The projected breakeven price for development of oil fields offshore Suriname is expected to reduce in coming years as...
U.S extends Chevron’s stay in Venezuela to mid-2021
(S&P Global Platts) The US Treasury said on Tuesday that Chevron and top oilfield services firms can remain in...
Suriname is 2nd in the world for volume of oil discovered this year, Guyana remains big prize in basin
Of the 73 new discoveries announced this year (through October), Suriname has emerged as the number two location for...
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Must Read
Tullow to plug over 90% of expenditure in West Africa, will continue to evaluate Guyana acreage
UK-based Tullow Oil will be unveiling a new strategy and plan to generate c. $7 billion of operating cashflow over the next 10 years...
Joint billion-dollar-plus Guyana-Suriname deepwater harbour on the cards
With massive volumes of hydrocarbons being found in the Guyana-Suriname basin in recent years, development of these resources will require significant shorebase support services...
Orinduik block partners reviewing multiple light, sweet targets for 2021 drill plans
Eco (Atlantic) Oil and Gas Ltd announced Tuesday via its unaudited results for the six months ended September 30, 2020, that multiple light, sweet, oil...
South America’s new O&G deepwater players positioning for big opportunities
The governments of Guyana and Suriname, the new oil and gas deepwater hotspots in South America, are focusing on strengthening bilateral relations and solidifying...
Baker Hughes plugging over US$8 million into Oilfield Service Facility in Guyana
American international industrial service company, Baker Hughes, is moving to set up an Oilfield Service Facility at Land of Canaan on the East Bank...
Corentyne River Bridge on agenda as Guyana President makes first state visit to Suriname
Guyana’s President, Dr Mohamed Irfaan Ali, has arrived in Suriname for a state visit over the period November 23 to 26, during which time...
Opinions
Opinions
Negotiating an oil agreement for new economies such as Guyana
The mere mention of a natural resource discovery, especially of oil and increasingly of gas, ignites personal and national dreams of riches and hopes of prosperous times, fuelled more than ever by recent dramatic changes in oil prices. Many emerging economies such as Guyana view their natural resources as an asset not belonging to any private party. Irrespective of who may own the surface land and rights, the nation owns the assets, and this position...
Considerations for competitive bidding and licensing rounds for Guyana’s offshore development
Fiscal design elements are important, but so are the means by which governments choose to allocate acreage or projects. As can be seen today,...
Factors that affect exposure to exploration risk in Guyana’s offshore basin
Most governments go to a lot of effort to distance themselves as much as possible from exploration risk. This can be done through management...
Understanding the effective royalty rate for new petroleum producing countries
The investor’s response to any given tax instrument or regime depends on the interrelations that link each of their profit decisions. For example, it...
Evaluating key elements of an oil contract for emerging petroleum economies
Keep in mind, however, that most fiscal systems in the world are moderately regressive. The revenue the governments receive will go up, but Government...
Petroleum Contracts
Agreement
between Government of Guyana and EEPGL + CNOOC/NEXEN + HESS
Agreement
between Government of Guyana and CGX Energy
Agreement
between Government of Guyana and Ratio Energy
Agreement
between Government of Guyana and Tullow/Eco Atlantic
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Fast4Ward® hull for Liza Unity FPSO moves into dry dock
04:04
SBM Offshore Reports Positive Performance for 2019
03:19
Ripple Effect
02:18
First Tanker to Lift Guyana's Oil
00:24
Liza Destiny FPSO sets sail for Guyana
01:59
Interest in Guyana soars as companies ask; “how do we get in?”
00:34
ExxonMobil makes double discoveries in Guyana
00:41
Exploration
Stena Carron exits ‘deepest Guyana well’ for new drill campaign
The drillship Stena Carron is set to depart the Tanager-1 well site in the Kaieteur block and will take up a new assignment at...
It will take several wells to define Kaieteur Block opportunity – Hess
Speaking just days before the results from the Tanager-1 prospect was announced, John Hess, CEO of Hess Corporation, a 15% stakeholder in the Kaieteur...
Tanager results a reminder that exploration is a risky, expensive business – Ramnarine
The results from the Tanager-1 exploration well at the Kaieteur Block offshore Guyana announced on Tuesday brings back into focus the risky nature of...
Liza Destiny, drillships rack up over 11 million hours without lost time injury offshore Guyana
Safety continues to be a top priority in the exploration and production activities offshore Guyana where ExxonMobil is operator at the prolific 6.6 million...
Discoveries
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...
World’s Largest Recent Offshore Oil Discovery Progresses Amid Political Tensions, Disputes
Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true...
Production
IEA cuts 2020 demand estimates, says vaccine may not salvage oil market until H2 2021
The International Energy Agency trimmed its oil demand estimate for 2020 on the resurgence of the coronavirus in the West and said it does...
Liza Destiny, drillships rack up over 11 million hours without lost time injury offshore Guyana
Safety continues to be a top priority in the exploration and production activities offshore Guyana where ExxonMobil is operator at the prolific 6.6 million...
Guyana oil production will grow tenfold, contribute to uptick in S/America’s output – GlobalData
Rapid development of oil fields offshore Guyana will result in production increasing tenfold in the coming years, and along with Brazil, will see South...
Staatsolie CEO sees big benefits for Guyana and Suriname from natural gas
Large volumes of associated natural gas discovered with oil off the coast of both Guyana and Suriname can play a major role in the...
