News

Come February 2023, Guyana will make public the first draft of its new model Production Sharing Agreement (PSA), said Finance Minister, Dr. Ashni Singh. “We have announced the main elements of a new fiscal framework, which will form the basis...

Dredging is set to commence in the Berbice river, as CGX Energy through its subsidiary, Grand Canal Industrial Estates, advances construction on the Berbice Deep Water Port. CGX, in an update on January 23, said that in the first quarter...

Prime Minister of Trinidad and Tobago, Dr. Keith Rowley, said the island nation may need to consider a “direct proposal arrangement” for the issuance of oil blocks licenses, to maximise extraction of its petroleum resources. He made the comment...

Shell has hit pay at Namibia’s rising oil star – the Orange basin, according to Upstream Online in a January 23 report that said early signs from its Jonker-1 exploration probe “are promising”. Northern Ocean’s semi-submersible rig Deepsea Bollsta began...

The Wei-1 well in the Corentyne Block 200 kilometres offshore Guyana has been spud, CGX Energy said Monday morning. The Noble Discoverer arrived days ago from Trinidad and Tobago. The Wei-1 exploration well is expected to take approximately 4-5...

US-based private financial and investment company, The Motley Fool, says ExxonMobil’s fifth development project off the coast of Guyana is a clear indication of the major’s confidence in the oil market. The Uaru development, set to deliver first oil in...

Guyana plans to spend a little over 50% of its oil windfall revenues over the years 2023-2026, on national development priorities heavily geared toward modernising public infrastructure and improving vital social services. The expenditure projections are included in the government’s...

The floating production, storage and offloading (FPSO) vessel for the bp-operated Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project has started its journey towards the project site off the coasts of Mauritania and Senegal. On Monday, bp said the...

The fourth quarter "affirmed a distinctive new phase" in the energy sector up-cycle for the global oil field services giant Schlumberger, now SLB. The company reported earnings for its fourth quarter increased from the same period last year and beat...

Guyanese authorities are in the process of revising the National Land Use Plan in an effort to efficiently streamline the increasing need for shore bases and other oil and gas support facilities.  This is outlined in the Environmental Impact Assessment...