News

Guyana passed Local Content legislation a little over a year ago to ensure that its citizens get the most out of the petroleum resource – a whopping 11 billion barrels discovered in the Stabroek Block and counting. Now, NetBenefit Software...

ExxonMobil, Hess and CNOOC have paid up US$57.6 million (GY$12 billion) in quarterly royalties to the Guyana government, a January report of the Natural Resource Fund indicated. This represents 26% of Guyana’s projected royalties for 2023. The royalties account for...

ExxonMobil Guyana’s Kokwari-1 exploration well is expected to be drilled between February and July 2023, utilising the Stena DrillMAX. Guyana’s Maritime Administration Department (MARAD) in a notice to mariners said the well site is situated approximately 190 kilometres off the...

Trinidad and Tobago’s Minister of Energy, Stuart Young is leading a team to Caracas, Venezuela to kick off negotiations with the Bolivarian Republic for the Dragon gas deal. According to TT media reports, Young is being supported by Trinidad’s Venezuelan...

Touchstone Exploration said Monday that it commenced operations at the Royston-1X sidetrack well on the onshore Ortoire Block in Trinidad and Tobago. Royston-1X is re-entering the previously drilled Royston-1 well and is expected to be drilled to a measured depth...

Western Logistics Guyana Inc. announced has achieved ISO 9001:2015 certification. ISO 9001:2015 is an international standard dedicated to a quality management system. This consists of principles of customer focus, leadership, engagement of people, process approach, improvement, evidence-based decision-making, and relationship...

UK-based consultancy group Wood Mackenzie has dubbed 2022 a standout year for exploration – the strongest in more than a decade. The global exploration sector, in its bid to improve portfolios by adding lower-carbon, lower-cost advantaged barrels, created at least...

The Offshore Technology Conference (OTC) presented ExxonMobil with the OTC Distinguished Achievement Award in recognition of its affiliate Esso Exploration and Production Guyana Limited’s Liza Developments in the offshore Stabroek Block. OTC said Liza Phase 1 was “one of the...

The Organisation of Petroleum Exporting Countries (OPEC) expects Guyana to add about 90,000 barrels of crude per day (bpd) to its current output, according to the  January monthly oil market report. This would lift Guyana’s 2023 output 32 million barrels...

Energy Strategist and Advisor Anthony Paul has urged Trinidad and Tobago to get its proverbial ducks in order before approaching the Dragon gas deal with Venezuela’s state-own PDVSA. “I think that we have a bigger role to play on the...