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Thursday, February 25, 2021

Latest News

Fifty-seven days later: search for oil at Bulletwood-1 continues

The search for hydrocarbons at the Bulletwood-1 prospect offshore Guyana on the Canje Block is still ongoing and could wrap up in early March. The...

Stena DrillMAX to target Turbot/Longtail appraisal operation, new campaign at Whiptail-1

The 6th Generation Harsh Environment dual activity dynamically positioned (DP3) drillship, Stena DrillMAX, is now in Guyana waters and will begin operations with a...

Exxon’s reserves hit lowest point since merger with Mobil in 1999

(Reuters) - Exxon Mobil Corp’s global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices...

Saipem gets award for tool that can estimate CO2 in its offshore projects

Italian multinational oilfield services company Saipem has won the Environmental Sustainability Award in International Marine Contractors Association’s (IMCA) 2020 Awards programme, for an innovative CO2 estimation...

Government working with Exxon to ensure early solution to gas compressor issue – Bharrat

The Guyana government is working with ExxonMobil to ensure that the faulty third stage gas compressor now under repairs in Germany, is fixed as...

Trending

Saipem gets award for tool that can estimate CO2 in its offshore projects

Italian multinational oilfield services company Saipem has won the Environmental Sustainability Award in International Marine Contractors Association’s (IMCA) 2020 Awards programme, for an innovative CO2 estimation...

Fifty-seven days later: search for oil at Bulletwood-1 continues

The search for hydrocarbons at the Bulletwood-1 prospect offshore Guyana on the Canje Block is still ongoing and could wrap up in early March. The...

Stena DrillMAX to target Turbot/Longtail appraisal operation, new campaign at Whiptail-1

The 6th Generation Harsh Environment dual activity dynamically positioned (DP3) drillship, Stena DrillMAX, is now in Guyana waters and will begin operations with a...

Exxon’s reserves hit lowest point since merger with Mobil in 1999

(Reuters) - Exxon Mobil Corp’s global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices...
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Local Content

Guyana should learn from Brazil’s shortfalls in its Local Content Policy

By Arthur Deakin – OilNOW On February 15, the government of Guyana opened a public consultation process for its local content policy. Guyana is set...

Need for realistic local content targets form key part of discussions as Guyana prepares framework

Section seven of Guyana’s draft revised Local Content Policy Document that is currently under consultation falls under the title, ‘Minimum Local Content in Goods...

Operators must tell local businesses about upcoming opportunities, President says

The Guyana Government is seeking to make it a policy that oil and gas operators have to provide advance notice to local businesses in...

Capacity on the ground, banking system challenges among points raised at opening of local content consultations

During the first leg of consultations held on Monday on Guyana’s draft Local Content Policy, the discourse, which was facilitated by President, Dr. Irfaan...

Accountability, realistic targets must be hallmarks of Guyana’s local content policy – President Ali

During Monday's launch of the first round of consultations on Guyana's draft Local Content Policy, President Irfaan Ali categorically stated that the final document...

Exxon-led consortium’s next challenge in Guyana is local content

The following is an opinion piece by David Blackmon, an independent energy analyst/consultant based in Mansfield, TX., published in Forbes on February 13, 2021.  The...
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Latest News

Fifty-seven days later: search for oil at Bulletwood-1 continues

The search for hydrocarbons at the Bulletwood-1 prospect offshore Guyana on the Canje Block is still ongoing and could wrap up in early March. The...

Stena DrillMAX to target Turbot/Longtail appraisal operation, new campaign at Whiptail-1

The 6th Generation Harsh Environment dual activity dynamically positioned (DP3) drillship, Stena DrillMAX, is now in Guyana waters and will begin operations with a...

Exxon’s reserves hit lowest point since merger with Mobil in 1999

(Reuters) - Exxon Mobil Corp’s global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices...

Saipem gets award for tool that can estimate CO2 in its offshore projects

Italian multinational oilfield services company Saipem has won the Environmental Sustainability Award in International Marine Contractors Association’s (IMCA) 2020 Awards programme, for an innovative CO2 estimation...

Government working with Exxon to ensure early solution to gas compressor issue – Bharrat

The Guyana government is working with ExxonMobil to ensure that the faulty third stage gas compressor now under repairs in Germany, is fixed as...

SBM Offshore is sole bidder for giant Brazil FPSO

Brazil’s state-controlled oil company Petrobras received only one proposal, from Dutch floater specialist SBM Offshore, in a bid to construct the Mero 4 oil...

100 million b/d global oil demand rebound likely by year end

(S&P Global Platts) Global oil demand is expected to recover to pre-pandemic levels of around 100 million b/d by the end of the year...

Value of Saudi oil exports fell nearly 30% in December

(Reuters) - The value of Saudi Arabia’s oil exports in December dropped nearly 30%, or 19.5 billion riyals ($5.2 billion), compared with the year...

Regional

SBM Offshore is sole bidder for giant Brazil FPSO

Brazil’s state-controlled oil company Petrobras received only one proposal, from Dutch floater specialist SBM Offshore, in a bid to...

Brazil’s Enauta restarts production well after shutting down to replace oil heaters

(S&P Global Platts) Brazilian independent oil and natural gas producer Enauta restarted a single production well at the offshore...

Eight Suezmaxes booked out of Guyana so far this year as output set to balloon – Platts

(S&P Global Platts) A partial easing of US sanctions on Venezuela on humanitarian grounds could pump Caribbean-loading cargoes into...

Credit agencies should reward oil majors for natural gas developments

By Arthur Deakin - OilNOW On January 26, one of the most influential credit rating agencies in the world, Standard...

Bahamas well fails to deliver commercial crude

The Perseverance #1 well in The Bahamas did not encounter hydrocarbons in commercial quantities, Bahamas Petroleum Company (BPC) announced...

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Must Read

Fifty-seven days later: search for oil at Bulletwood-1 continues

The search for hydrocarbons at the Bulletwood-1 prospect offshore Guyana on the Canje Block is still ongoing and could wrap up in early March. The...

Stena DrillMAX to target Turbot/Longtail appraisal operation, new campaign at Whiptail-1

The 6th Generation Harsh Environment dual activity dynamically positioned (DP3) drillship, Stena DrillMAX, is now in Guyana waters and will begin operations with a...

Saipem gets award for tool that can estimate CO2 in its offshore projects

Italian multinational oilfield services company Saipem has won the Environmental Sustainability Award in International Marine Contractors Association’s (IMCA) 2020 Awards programme, for an innovative CO2 estimation...

Government working with Exxon to ensure early solution to gas compressor issue – Bharrat

The Guyana government is working with ExxonMobil to ensure that the faulty third stage gas compressor now under repairs in Germany, is fixed as...

Experts finalizing recommendations for repair of discharge silencer

Reassembly of the Liza Destiny FPSO flash gas compressor sent to Germany for repairs continues at the MAN Energy Solutions workshop. ExxonMobil Guyana said on...

GEC-X ’21 to focus on local content, energy mix

For the first time, local organisers will be fully spearheading an energy conference that is set for September 28-29, 2021, and that event—the Guyana...

Opinions

Guyana should learn from Brazil’s shortfalls in its Local Content Policy

By Arthur Deakin – OilNOW On February 15, the government of Guyana opened a public consultation process for its local content policy. Guyana is set to become a top 20 global oil producer, at 1.2 million barrels a day by 2030, and this legislation will set the stage for thousands of local jobs. The local content law is a living policy, meaning that its requirements evolve as the industry develops. This allows for the local citizenry...

Guyana must not allow critics, challenges to detract from broad potential benefits of gas pipeline

By Joel Bhagwandin - OilNOW A contextual Economic & Financial Analysis of Guyana’s Gas to Shore Project Part 3 The purpose of this column series is to...

An approach to healing Guyana’s socio-political and economic ills [Part 1 of 2]

By Wilberne Persaud - OilNOW Consider 1: “It should be borne in mind that there is nothing more difficult to arrange, more doubtful of success,...

Guyanese leadership in the Oil and Gas sector will require Guyanese excellence in STEM education

By Dr. Terrence Richard Blackman - OilNOW In an updated forecast, it has predicted that oil prices will average just above $50/b in 2021. If...

A consortium of investors can be put together for gas to shore project

By Joel Bhagwandin A contextual Economic & Financial Analysis of Guyana’s Gas to Shore Project Part 2 Though it is assumed that ExxonMobil and its partners will...

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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Exploration

Fifty-seven days later: search for oil at Bulletwood-1 continues

The search for hydrocarbons at the Bulletwood-1 prospect offshore Guyana on the Canje Block is still ongoing and could wrap up in early March. The...

Stena DrillMAX to target Turbot/Longtail appraisal operation, new campaign at Whiptail-1

The 6th Generation Harsh Environment dual activity dynamically positioned (DP3) drillship, Stena DrillMAX, is now in Guyana waters and will begin operations with a...

Guyana pushing big volumes in South America deepwater bonanza

South America continues to be a major player in the global arena for deepwater discoveries, with Guyana pushing big volumes and massive potential finds...

Oil majors incurred record loss in 2020, output fell by almost 1 million bpd

The downturn brought by the coronavirus pandemic and the accelerating energy transition has created a new reality for the world’s oil and gas industry,...

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

Experts finalizing recommendations for repair of discharge silencer

Reassembly of the Liza Destiny FPSO flash gas compressor sent to Germany for repairs continues at the MAN Energy Solutions workshop. ExxonMobil Guyana said on...

Brazil’s Enauta restarts production well after shutting down to replace oil heaters

(S&P Global Platts) Brazilian independent oil and natural gas producer Enauta restarted a single production well at the offshore Atlanta Field, pumping about 10,400...

Guyana pushing big volumes in South America deepwater bonanza

South America continues to be a major player in the global arena for deepwater discoveries, with Guyana pushing big volumes and massive potential finds...

No linkage between compressor issue, production optimization – ExxonMobil

German engineering company MAN Energy Solutions says there is no linkage between technical issues encountered with the flash gas compressor on the Liza Destiny...