News

Guyana President Dr. Mohamed Irfaan Ali believes that 45 days after receipt of a correct invoice is too long a wait period for oil companies to pay their contractors. The President discussed the matter at the Local Content Summit...

The economic landscape of Guyana is shifting rapidly, driven by expanding sectors far beyond the notable oil and gas industry. President Dr. Mohamed Irfaan Ali has emphasized the need for a transformative approach in banking to keep pace with...

The Local Content Summit kicks off today with Guyana President, Dr. Irfaan Ali set to deliver the feature address at the event.  With a thematic focus on "Creating Value, Driving Economic Expansion," the Summit is designed to delve into critical...

ExxonMobil’s newly approved Whiptail project is expected to produce oil from reservoirs shared between the Whiptail license area and those of two other Stabroek Block projects (Yellowtail and Uaru).  According to the Whiptail production license, Exxon notified the government that...

TechnipFMC has been awarded a large contract in Guyana’s Stabroek Block by ExxonMobil Guyana to supply subsea production systems for the Whiptail project. The contract value is between US$500 million and US$1 billion. This follows the greenlighting of the project...

Iran unleashed a barrage of over 300 drones and missiles on Israel over the weekend, marking the first direct assault on Israeli soil from Iranian territory. Jorge León, Senior Vice President at Rystad Energy, described this as an “unprecedented...

Oilfield services and technology giant SLB has secured three contracts from Petrobras, Brazil's state-run oil company, to provide completion hardware and services for up to 35 subsea wells in the development of the Buzios Wave II offshore oil field. The...

Guyana’s annual oil exports are expected to triple in value from US$11 billion in 2023 to US$33 billion by 2030, according to a recent report from S&P Global Commodity Insights.  "In real terms, the value of Guyana's oil production is...

Italian multinational oilfield services company Saipem has received authorization from ExxonMobil Guyana Limited and its Stabroek Block coventurers to proceed with the execution of the giant Whiptail oilfield development project. Saipem said at the weekend that the authorization has been...

ExxonMobil Guyana is forging ahead with developmental drilling operations at the Uaru well site within Guyana’s Exclusive Economic Zone on April 6, 2024.  According to a notice from Guyana’s Maritime Administration Department (MARAD), the Stena DrillMax is spearheading the drilling...