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Latest News

Oil summit focusing on South America’s new frontier set for June with big local content push

The 3rd Annual Guyana International Petroleum Business Summit and Exhibition (GIPEX), will be returning this year, from June 28-30 via a virtual platform hosted...

Guyanese investor building multi-million-dollar oil & gas storage facility close to major shore base

A Guyanese businessman is looking to transform a section of an abandoned cane field into a multi-million-dollar infrastructure targeting the needs of the oil...

Guyana world class deep water projects contributing to SBM Offshore growth

The four Floating Production Storage and Offloading (FPSO) vessels currently being built by SBM Offshore are positively contributing to the company’s growth phase. Two...

Venezuela will need almost $60 billion to return oil industry to its heyday

Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo...

Chevron shuts in Tamar gas platform offshore Israel as violence escalates

(S&P Global Platts) US major Chevron has shut in the Tamar gas platform offshore Israel amid an escalation of violence in the country, a...

Trending

Oil summit focusing on South America’s new frontier set for June with big local content push

The 3rd Annual Guyana International Petroleum Business Summit and Exhibition (GIPEX), will be returning this year, from June 28-30 via a virtual platform hosted...

Guyanese investor building multi-million-dollar oil & gas storage facility close to major shore base

A Guyanese businessman is looking to transform a section of an abandoned cane field into a multi-million-dollar infrastructure targeting the needs of the oil...

Guyana world class deep water projects contributing to SBM Offshore growth

The four Floating Production Storage and Offloading (FPSO) vessels currently being built by SBM Offshore are positively contributing to the company’s growth phase. Two...

Venezuela will need almost $60 billion to return oil industry to its heyday

Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo...
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Local Content

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...

Guyana must accept it has crucial skills shortage for oil sector; temper local content expectations – Greenidge

The reality facing Guyana, the world’s most envied deepwater exploration hotspot, is that it suffers from a crucial shortage of skills required for the...

Partnership is fastest way to help Guyanese build capacity for oil sector – GCCI President

While it is well known that most partnerships are not always successful, it is still a crucial mechanism to help Guyanese build capacity in...
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Latest News

Oil summit focusing on South America’s new frontier set for June with big local content push

The 3rd Annual Guyana International Petroleum Business Summit and Exhibition (GIPEX), will be returning this year, from June 28-30 via a virtual platform hosted...

Guyanese investor building multi-million-dollar oil & gas storage facility close to major shore base

A Guyanese businessman is looking to transform a section of an abandoned cane field into a multi-million-dollar infrastructure targeting the needs of the oil...

Guyana world class deep water projects contributing to SBM Offshore growth

The four Floating Production Storage and Offloading (FPSO) vessels currently being built by SBM Offshore are positively contributing to the company’s growth phase. Two...

Venezuela will need almost $60 billion to return oil industry to its heyday

Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo...

Chevron shuts in Tamar gas platform offshore Israel as violence escalates

(S&P Global Platts) US major Chevron has shut in the Tamar gas platform offshore Israel amid an escalation of violence in the country, a...

Giant Yellowtail FPSO will produce up to 7.5 million barrels of oil per month during early stage of operations

The offshore developments in Guyana are growing both in number and capacity, with the fourth proposed project at Yellowtail being designed to utilize a...

Fabrication of topsides for Guyana’s 3rd oil production vessel underway in Singapore

Work on Guyana’s 3rd oil production vessel is progressing on schedule in Singapore, SBM Offshore said in its Q1 trading update on Wednesday. The...

Proposed, sanctioned offshore developments to deliver over 800,000 bpd by 2025

Guyana has gone from having no known oil resources just 6 years ago to now holding over 9 billion barrels of oil equivalent. The...

Regional

Venezuela will need almost $60 billion to return oil industry to its heyday

Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels...

Mærsk Developer to drill additional appraisal well for Total in Suriname

Total E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional appraisal well in...

Singapore shipbuilder capturing big contracts for South America floaters

Keppel Offshore & Marine has secured yet another contract for a South America-bound floater. The company announced on Monday...

Brazil offshore wells could quadruple to 19 this year

(S&P Global Platts) Brazil's National Petroleum Agency expects the number of exploration wells drilled off the country's coast to...

Suriname bid round closes with interest shown in less than 50% of blocks offered

Suriname’s Shallow Offshore Bid Round closed on April 30 with international oil companies showing interest in just 3 of...

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Must Read

Oil summit focusing on South America’s new frontier set for June with big local content push

The 3rd Annual Guyana International Petroleum Business Summit and Exhibition (GIPEX), will be returning this year, from June 28-30 via a virtual platform hosted...

Guyana world class deep water projects contributing to SBM Offshore growth

The four Floating Production Storage and Offloading (FPSO) vessels currently being built by SBM Offshore are positively contributing to the company’s growth phase. Two...

Venezuela will need almost $60 billion to return oil industry to its heyday

Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo...

Giant Yellowtail FPSO will produce up to 7.5 million barrels of oil per month during early stage of operations

The offshore developments in Guyana are growing both in number and capacity, with the fourth proposed project at Yellowtail being designed to utilize a...

Fabrication of topsides for Guyana’s 3rd oil production vessel underway in Singapore

Work on Guyana’s 3rd oil production vessel is progressing on schedule in Singapore, SBM Offshore said in its Q1 trading update on Wednesday. The...

Proposed, sanctioned offshore developments to deliver over 800,000 bpd by 2025

Guyana has gone from having no known oil resources just 6 years ago to now holding over 9 billion barrels of oil equivalent. The...

Opinions

Oil and Gas Imperatives: Direct Foreign Investment, Local Content Policy and Governmental Transparency

By Wilberne Persaud - OilNOW Growing up in British Guiana, I marveled at Dutch engineering genius. They created the seawall, amazing below-sea-level coastal water and drainage systems. Georgetown was scenic and serene, at the time considered the Caribbean’s Garden City. Imperceptibly, as my Dad took our family around the country during those long ‘Summer’ vacations I began to value nature’s infinite variety and Guyana’s biodiversity. Fast forward: today filled-in canals, haphazard private construction effected with little...

The challenge of human capital and economic development in Guyana

By Jerry Haar – OilNOW The Guyanese highly value education, and that bodes well as the country seeks to capitalize on its oil and gas...

Guyana using its foreign policy to strengthen relationship with old allies, build new partnerships with oil producing nations

By Wazim Mowla - OilNOW While some states aim to use foreign policy to increase their standing in the world, for advocacy, or as a...

Letter-to-the-Editor: Further discussion needed on size of gas pipeline, use of growing resources

Dear Editor, I read with great interest the article entitled “Gas-to-power seen as a game changer for Guyana’s energy sector” as found in the impressive...

Stakes are high for Guyana and Venezuela in long-standing border controversy

By Ivelaw Lloyd Griffith - OilNOW In the first article in this four-part series, I focused on Venezuela’s recent saber-rattling moves. In this 2nd part...

Permits

Petroleum Contracts

GOG + EEPGL + CNOOC/NEXEN + HESS

GOG + CGX Energy

GOG + Ratio Energy

GOG + Tullow/Eco Atlantic

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Exploration

Brazil offshore wells could quadruple to 19 this year

(S&P Global Platts) Brazil's National Petroleum Agency expects the number of exploration wells drilled off the country's coast to nearly quadruple in 2021 to...

More penetrations in Santonian could push Guyana oil resources even higher

In addition to Uaru-2, three other discoveries offshore Guyana – Liza Deep, Tripletail and Yellowtail – have had deeper penetrations into the Santonian. That...

Kawa -1 well targeting traps comparable to Stabroek and Suriname’s Block 58, explorers confident of hitting pay

CGX Resources Inc. (CRI), operator of the Corentyne block offshore Guyana, believes the chance of finding hydrocarbons at the Kawa-1 prospect has increased since...

Projects set to push Guyana’s production over 500,000 bpd by 2024 on schedule

Preparations for the 220,000 barrels per day (bpd) Liza Phase 2 and Payara developments offshore Guyana are moving ahead on schedule and will soon...

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

Total starts oil production at Zinia Phase 2 in Angola

Total, operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency, announce on Thursday the start of production...

Venezuela oil production on course to be surpassed by South America’s ‘new kid on the block’

Even with its vast oil reserves of over 300 billion barrels, Venezuela’s output is now on course to be surpassed by new producer Guyana...

Guyana President confirms major ramp up coming in ExxonMobil’s oil production operations

President of Guyana, Dr. Irfaan Ali on Wednesday highlighted plans by ExxonMobil to significantly ramp up oil production activities offshore the South American country...

Bahamas Petroleum looking to ramp up production in T&T, Suriname

Bahamas Petroleum Company plc said Friday it will be embarking on a comprehensive program of activities that will see an increase in production and...