News

The Payara project, scheduled for startup in 2023, will utilise a floating production, storage and offloading (FPSO) vessel with a record sustainable design. ExxonMobil had said that its new Guyana FPSOs would be modeled off the sustainable design of the...

SBM Offshore in collaboration with the Ministry of Education in Guyana recently launched the Guyana-Monaco Mousetrap Car Grand Prix Competition, an international contest held annually in the Principality of Monaco. The competition sees high school students using the Laws of...

A partnership between Caribbean Subsea Specialist Inc. (CSSI) and 3t EnerMech (ODITC) has led to the launch of world-class robotics training and project simulation being available for the first time in Guyana. The Schilling Heavy Duty remotely operated underwater vehicle...

Petrobras has been saddled with increased costs for floating production, storage, and offloading (FPSO) vessels, triggered by supply chain disruptions. Yet, the Brazil-state-owned company, in pursuing an aggressive production ramp-up, has four new vessels for start-up this year; a total...

ExxonMobil is looking to increase its multi-billion barrel recoverable resources offshore Guyana this year. Its co-venturer Hess Corp. recently announced yet another significant discovery at Fangtooth SE-1. And according to Rystad Energy, more discoveries will come over the next several years, with...

ExxonMobil’s majority-owned affiliate, Imperial Oil Ltd., has committed US$560 million to commence construction of the largest renewable diesel facility in Canada. Imperial’s renewable diesel facility will use low-carbon hydrogen produced with carbon capture and storage technology to help Canada meet...

As the Prosperity floating production, storage and offloading (FPSO) vessel gears for start-up in Guyana’s Stabroek Block this year, it could see the country entering its first government-to-government oil deal. The Prosperity will be the third production vessel for Guyana...

ON Energy Inc., a company registered in Guyana, is preparing to dissolve and owes its parent company CGX Energy Inc. US$3 million. But the company is now unable to pay its debts. ON had held a license for the Berbice block, onshore...

The Prosperity floating production, storage, and offloading (FPSO) vessel is expected to set sail from the Keppel shipyard in Singapore in the first quarter of this year for Guyana where it will produce oil and gas for the next...

Guyana has deposited US$1.86 billion in royalties and profit oil payments to the Natural Resource Fund (NRF) raking in GY$3.67 billion in interest in the last three years. For 2022, the nation earned a whopping GY$3.65 billion (US$17.51 million) in...