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Who will supply Suriname’s first FPSO: Modec or SBM Offshore? 

OilNOW -
As TotalEnergies prepares for its inaugural offshore development venture in Suriname, the competition intensifies between SBM Offshore and MODEC to secure the contract for the project's 200,000 barrels-per-day production vessel. In anticipation of the bidding process, both contractors have initiated...
Discoveries

Petronas, Exxon hit oil jackpot with second discovery at Block 52 offshore Suriname

OilNOW -
Petronas Suriname has announced a major oil discovery at the Roystonea-1 exploration well in block 52.  The successful drilling, carried out in an offshore location about 185 kilometers from the coast and at a water depth of 904 meters, has...
News

Guyana business group says power outage woes will hamper investments

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) has voiced its profound disappointment regarding ongoing power outages in Guyana. In a November 2 release, the GCCI stated that "this continued spate of power disruptions is having an acute impact...
News

‘We feel our name is tied to whether this is a success for Guyana’ – Routledge tells WSJ

OilNOW -
ExxonMobil Guyana president, Alistair Routledge, has made it clear that the company's reputation is intimately linked to the impact of its large oil projects in Guyana. "We feel our name is now tied to whether this is a success...
News

SBM Offshore seeking wide-ranging services for its Guyana operations

OilNOW -
Local suppliers once again have an opportunity to provide a wide range of services to SBM Offshore Guyana, as the company prepares to bring its third oil production vessel online in the South American country. In its search for these services,...
News

Commonwealth says Venezuela referendum a ‘threat to peace and stability’ in Caribbean region

OilNOW -
The Commonwealth has issued a statement expressing "deep concern" over the Venezuelan National Assembly's decision to undertake a referendum on the status of the Essequibo region. The referendum is scheduled for December 3 and concerns the sovereign territory of...
News

Guyana in talks with Afreximbank for US$500M bridge financing for infrastructure projects

OilNOW -
Guyanese officials are currently in talks with the African Export-Import Bank (Afreximbank) for a US$500 million bridge financing that can be used to fund the government’s massive infrastructure programme. President Dr. Irfaan Ali made this revelation during the opening...
News

“This Essequibo is ours, every square inch of it” – President Ali

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Standing on the land Venezuela is attempting to claim as its own, Guyana’s President Dr. Irfaan Ali affirmed that his country does not plan on surrendering its territory.  “This Essequibo is ours, every square inch of it,” he declared on...
News

Maduro says “Venezuela has never recognized nor will it recognize the ICJ” for resolution of Guyana border controversy 

Shikema Dey -
The jurisdiction of the International Court of Justice (ICJ) to preside over the Guyana-Venezuela border controversy case does not seem to matter to the Nicolas Maduro-led administration.  In fact, President Maduro himself told state press that “Venezuela has never recognized...
News

Subsea7 awarded major contract amendment for Petrobras’ Mero 4 field development 

OilNOW -
Subsea7 has confirmed the award of a major contract amendment by Petrobras for the development of the Mero 4 field, located approximately 200 kilometers off the coast of the state of Rio de Janeiro, Brazil. The field is situated...
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Guyana must transform its oil boom into sustainable, broad-based prosperity – Minister Ally 

Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the...

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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