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Guyana waived over US$500 million in taxes last year to boost oil and gas sector – VP Jagdeo

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According to the latest report of Guyana’s Audit Office, GY$108 billion (approximately US$518 million) in tax concessions were granted in 2022 to support booming activities in the oil and gas industry. While this is a significant sum, the nation’s...
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Increasing use of local content in global O&G supply chain anticipated for 2024 – Rystad official

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Audun Martinsen, Head of Supply Chain Research at Rystad Energy, predicts heightened reliance on local content requirements within the oil and gas sector amidst mounting supply chain concerns for 2024. Martinsen highlighted the increasing focus on re-shoring services and...
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Major oil and gas milestones in Guyana: A look back at 2023

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While the exploration success carried less momentum, Guyana’s oil and gas sector hit several milestones in 2023. Let’s look back at a few of those in no particular order.  Starting with discoveries…  In January, Hess announced the Fangtooth SE-1 discovery, revealing...
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SBM Offshore seeking contractor for underwater survey on Liza Destiny, Unity FPSOs

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Guyana Deep Water Operations Inc. (GDO), a subsidiary of SBM Offshore, has issued a request for information (RFI) seeking technical expertise from potential suppliers. The RFI aims to secure a contractor for the execution of the ‘underwater in lieu...
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Noble Corporation secures Petrobras contract for offshore drilling services in Colombia

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Offshore drilling contractor Noble Corporation has inked a deal with Petrobras, clinching a contract for its semi-submersible rig, the Noble Discoverer, to render drilling services off the coast of Colombia. The contract guarantees a firm duration of 400 days, scheduled...
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U.S. expected to approve US$660 million loan for Gas-to-Energy project in Guyana – Jagdeo

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Guyana's Gas-to-Energy project is set to receive significant financial support from the United States, according to Vice President Bharrat Jagdeo. Jagdeo detailed the ongoing negotiations and assurances received from various US departments, highlighting the expected approval of a substantial...
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ExxonMobil Guyana seeks suppliers for architectural and engineering support in Berbice

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ExxonMobil Guyana Limited (EMGL) is actively pursuing partnerships for architectural and engineering support services to bolster future construction endeavors within the Port Mourant, Berbice area. The company aims to identify suppliers capable of facilitating upcoming projects in the region. Currently,...
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Rystad Energy collaborates with Mærsk Center to spearhead maritime industry’s zero-carbon transition

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Norwegian energy research and business intelligence company, Rystad Energy, has forged an influential partnership with Denmark’s Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, advancing the maritime sector's role in the energy transition. The agreement, officially formalized on December...
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Gas-to-Energy: GAICO completes materials offloading facility, forges ahead with pipeline work

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GAICO Construction and General Services Inc. announced that it completed the materials offloading facility (MOF) for the Gas-to-Energy project and is currently undertaking the laying of 26 kilometers of onshore pipelines.  “As a local company we are excited about this...
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Trinidad, Venezuela, Shell sign Dragon gas license 

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President of PDVSA and Minister of Petroleum for Venezuela, Rafael Tellechea, said the company, as well as Shell and the National Gas Company of Trinidad and Tobago, signed a license for the development of the Dragon gas field, in...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

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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