News

CGX Energy Inc. said the maturation date for a US$19 million convertible loan it took for Guyana projects has been moved. The loan outstanding to Frontera Energy Corp., was previously announced on April 16, 2021 and May 28, 2021. With original...

CGX Resources Inc. said Monday that its joint venture with Frontera Energy Corp. was granted an environmental permit for drilling of the Wei-1 exploration well by Guyana’s Environmental Protection Agency (EPA). The company also confirmed its definitive agreement with Maersk...

TotalEnergies and Eni (operator) have made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. Located at approximately 160 km southwest of the Cyprus...

President of ExxonMobil Guyana, Alistair Routledge, said in a recent interview that there are over 900 highly trained people in total, stationed on the Stena Carron, Stena DrillMax, Noble Bob Douglas, Noble Tom Madden, Noble Don Taylor and Noble...

Norway-based Rystad Energy expects a rebound of high-impact drilling after what was described as a “disappointing” 2021 with success rates plunging to record lows. Rystad Energy classifies high-impact wells through a combination of factors, including the size of the prospect,...

In the past five years, the Inter-American Development Bank (IDB) has found that more than 100,000 new vehicles were registered in Guyana with 1,176 vehicles occurring every month. In one of its recent project documents, the financial institution said...

Trinidad and Tobago’s Touchstone Exploration Inc. received its Certification of Environmental Clearance (CEC) to move ahead with its Cascadura gas project from the Ortoire block offshore. Touchstone has an 80% operating working interest in the Ortoire block, with Heritage Petroleum Company...

Under different circumstances, ExxonMobil’s success in the Stabroek Block would have been shared with Royal Dutch Shell. The British multinational was ExxonMobil’s partner in the Stabroek Block prior to 2015, with a 50% stake. But looking at the data at...

Vice President Dr. Bharrat Jagdeo has given all assurances that the government intends to close loopholes being used to frustrate and circumvent the requirements of the Local Content legislation as well as address issues affecting local contractors such as extended waiting periods for...

Guyana’s oil bounty has blessed the country with record projected growth rates this decade. Economic growth in 2021, according to World Bank data, shows the South American country has already entered the top 100 per capita economies of the...