News

SBM Offshore’s multi-purpose deepwater construction vessel – the Normand Installer is gearing up for a new campaign in 2023 in Guyana’s Stabroek Block. According to reports, the Normand Installer has been placed into dry dock at Frederikshavn, Denmark. Built in 2006,...

Italian offshore contractor, Saipem, is looking for a local company to carry out dredge maintenance work on the quay wall of its Guyana facility located on the East Bank of Demerara. In an Expression of Interest (EOI), Saipem outlined that...

Guyana is targeting US$1.9 billion in commitments for its first offshore competitive licensing round, with safeguards to ensure contractors work swiftly and diligently. The bid round for offshore blocks opened on Monday, December 12, 2022 and included deepwater blocks (D1-D3) between...

With no known commercial hydrocarbons just seven years ago, Guyana is now the holder of the 17th largest oil reserves in the world. Aggressive exploration activities off the country’s coast, mainly by US oil major ExxonMobil, have seen major discoveries...

Vice President Dr. Bharrat Jagdeo has said the government will pursue loan finance from the United States Export Import Bank (US EXIM) to complement planned spending on the Gas-to-Energy project. The government expects profits from the NGL plant to offset...

Abu Dhabi National Oil Company (ADNOC), one of the world’s largest petroleum producers, has agreed to train several Guyanese who will eventually make up the nation’s Crude Marketing Unit. Vice President, Dr. Bharrat Jagdeo made this disclosure at a press...

Tullow Oil Thursday named its interim Chief Financial Officer (CFO) Richard Miller as permanent CFO and an Executive Director effective January 1. The company said Miller brings extensive oil and gas and financial experience to the role. He has been...

Exploration and production (E&P) companies are going after high-impact prospects in effort to capitalise on recent high demand for oil and natural gas, caused by re-organising energy markets. Wood Mackenzie said, in Global Exploration: 5 things to watch in 2023,...

Petrobras is set to announce a new Chief Executive Officer (CEO) after its current lead Caio Mário Paes de Andrade departs to serve in the incoming administration of the governor of Brazil's São Paulo state. The move comes ahead of a...

Seen as potentially transformative, the Gas-to-Energy project is progressing with hopes of cheaper and more reliable power for Guyanese. For many, this opens a world of opportunities as the country has one of the highest costs of electricity in the Caribbean and...