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SBM Offshore proud of another start-up ahead of schedule at Exxon’s Stabroek Block

OilNOW -
SBM Offshore has once again delivered and put into operation another floating production storage and offloading (FPSO) vessel offshore Guyana ahead of funding schedule and at industry-leading pace. The Prosperity FPSO began oil production at the ExxonMobil-operated Stabroek Block...
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Negotiations with winners in first oil auction to commence next week – Bharrat

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Negotiations with the winners of Guyana's first bid round are set to begin next week, according to the country's Minister of Natural Resources, Vickram Bharrat. Bharrat said the government has officially notified the awardees of the eight blocks. "We have...
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Payara will deliver more benefits for Guyanese people, government reaffirms

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Guyana’s Ministry of Natural Resources has affirmed that the Payara project will bring substantial benefits to the people of Guyana. This development is a major advancement of ExxonMobil’s output ramp-up strategy for the South American country. “Commencement of production at...
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Canadian parliamentarians arrive in Guyana for high-level talks

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A four-member parliamentary delegation from Canada arrived in Guyana on November 14, commencing a five-day visit aimed at fortifying and deepening the diplomatic relations between the two nations. The visit was facilitated through the Commonwealth Parliamentary Association (CPA).  Led by...
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Guyana oil fund reaches all-time high market value of US$2 billion

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Guyana’s Natural Resource Fund (NRF) has surpassed the US$2 billion mark, in market value, for the first time since its 2019 inception, according to an October report from the Bank of Guyana. In October, the Fund received approximately US$192.99 million...
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“Only the Court can prevent the annexation of tens of thousands of Guyanese territory” – Greenidge tells ICJ

Shikema Dey -
Guyana sees the International Court of Justice (ICJ) as the power to prevent the annexation of two-thirds of its territory, which would follow a controversial referendum by its neighbor Venezuela. The Nicolas Maduro regime is attempting to seek public...
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Oil production begins at Exxon’s 3rd Guyana project pushing output to 620,000 bpd

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ExxonMobil announced on Tuesday that it has started producing oil at the massive Payara Development Project offshore Guyana, bringing total production capacity to approximately 620,000 barrels per day (bpd). The Prosperity floating, production, storage and offloading (FPSO) vessel is expected...
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Guyana is key contributor to 100-million-barrel liquids production forecast

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Specialist market research and consultancy firm Westwood Global Energy Group says liquids production (crude, condensate and NGLs) is forecast at 100mmbpd by 2030, up 8% on 2022. This will be driven by increased crude production from deepwater areas, such...
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Guyana wants Exxon to move faster on monetizing gas assets

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Vice President of Guyana, Dr. Bharrat Jagdeo said during a recent media conference that the government wants ExxonMobil to move faster on the matter of developing the country’s growing gas assets. “We are not pleased with the pace at which...
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CGX further delays completion of Berbice support base

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CGX Energy has once again delayed the completion of its ‘Berbice Deepwater Port’, with the latest update projecting the completion of its oil and gas support functionalities to early 2025.  In the company's 2023 third quarter report, CGX said a...
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More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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