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Guyana’s non-oil economy to deliver “better-than-expected” growth in 2022

The Inter-American Development Bank’s (IDB) latest review of Guyana’s affairs shows that the nation’s non-oil economy is projected to have “better-than-expected” growth for 2022. In its quarterly report published Tuesday, the IDB said the country's non-oil sector is estimated to...

TotalEnergies and Eni make new gas discovery offshore Cyprus

TotalEnergies and Eni (operator) have made a new gas discovery at the Zeus-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 and the Cronos-1 discoveries made on the same block respectively in 2018 and August 2022....

Petrobras cops operatorship of three blocks in Campos Basin bid round

Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) has awarded the state-owned Petrobras operator status of three blocks located in the Campos Basin, offshore Brazil. The blocks are called Sudoeste de Sagitário, Água Marinha and Norte de Brava. Brazil’s pre-salt churns...

EPA greenlights Guyana’s first Rope Access Training centre

Qualco Guyana has received authorisation from the Environmental Protection Agency (EPA) for the country’s first rope access training facility located at Supply, East Bank Demerara. “This permit covers the company’s activities for a workshop and equipment storage facility at the company’s operations...

Guyana’s industry-leading production commendable but transparency, governance need more work – Analyst

Since achieving first oil on December 20, 2019, Guyana has maintained an industry-leading pace of development and production, much to the credit of its partnership with seasoned oil majors. But even amid such successes, it must still hasten to...

Eco increases shares in Africa’s newest exploration hotspot

Eco Atlantic Oil and Gas has successfully upped its participating interest share in Block 3B/4B offshore South Africa by 6.25%. The company in an announcement on Monday said it received all the requisite regulatory approvals from the Department of Mineral Resources and...

Exxon produced 10.78 million crude barrels offshore Guyana in November

ExxonMobil Guyana produced 10.78 million barrels of crude in November 2022, according to public data from the government’s Petroleum Management Programme. Total production averaged 359,490 barrels per day (bpd). This comprised output from the Liza Phases One and Two projects...

Three more US firms throw in bids to build Guyana’s refinery

Quanten Consortium Angola LLC, Environmental Solutions Inc. and SPEC Energy DMCC are the latest US-based companies bidding to build Guyana’s 30,000 barrels per day modular refinery. Quanten said it focuses on developing “transformational projects” in emerging markets with interventions that support deep,...

Subsea7 cops three contracts from Aker BP for work offshore Norway

Subsea 7 S.A. on Friday said it was awarded three contracts by Aker BP for work offshore Norway. The awards included a major contract (over US$750 million) for Yggdrasil field development project (formerly NOAKA), a large contract (US$300-500 million) for Skarv Satellite Project and a substantial contract (US$150-300 million) for...

OPEC sees world oil demand up by 2.2M barrels per day in 2023; Guyana still on track to drive growth

OPEC – the Organisation of Petroleum Exporting Countries – forecasts a hike in the world oil demand in 2023 by at least 2.2 million barrels per day (bpd) year-on-year, according to its latest Oil Market Report. OPEC said that Organisation...

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Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...