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New oil bill to be tabled in Parliament on August 3 – Jagdeo

OilNOW -
Guyana's Vice President, Dr. Bharrat Jagdeo, has announced that the country's new Petroleum Activities Bill will be presented to Parliament on August 3, 2023. The proposed legislation is set to establish a contemporary regulatory framework for the country's rapidly...
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Payara project will hit 220,000 bpd around five months after first oil

OilNOW -
Guyana’s third oil development, Payara, is expected to see a ramp-up to 220,000 barrels of oil per day (bpd) within a five-month period after production gets underway, says Chief Operating Officer (COO) of Hess Corporation, Greg Hill. During the company’s...
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SLB and Eni’s Enivibes to deploy e-vpms® for global pipeline monitoring

OilNOW -
SLB and energy giant Eni, through its subsidiary Enivibes, have forged an alliance to roll out e-vpms® (Eni Vibroacoustic Pipeline Monitoring System) technology worldwide. This state-of-the-art vibroacoustic wave detection system is purposed to provide real-time analysis, monitoring, and leak...
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Exxon confirms Guyana production to hit 600,000 barrels-a-day next year

OilNOW -
Come 2024, Guyana’s daily production is set to ramp up to 600,000 barrels of oil per day. This was recently confirmed by ExxonMobil Guyana's Production Manager, Mike Ryan.  On the latest episode of Access ExxonMobil Guyana, Ryan shared that this...
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Multiple new discoveries made in Guyana, but Hess says no update yet on new resource estimate

Shikema Dey -
Chief Executive Officer (CEO) of Hess Corporation, John Hess was asked by Doug Leggate from Bank of America on Wednesday when an update to the reserve estimate can be expected for the Stabroek Block. Hess has a 30% stake...
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Guyanese company to build wharf at Land of Canaan, near Baker Hughes’ Supercenter

OilNOW -
JOP Property Holdings Inc., a Guyanese company, is set to construct a wharf at Land of Canaan, near Baker Hughes' Supercenter. With a capital investment of US$25 million, the facility will add to the growing industrial and commercial development...
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Guyana moves oil blocks bid submission deadline to September 12, 2023

OilNOW -
The Ministry of Natural Resources has extended the deadline for bid submissions in the Guyana 2022 Offshore Licensing Round to September 12, 2023.  The government is working to pass into law, its Petroleum Activities Bill 2023, which will establish a...
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Guyana oil barrels help Hess offset low prices as profits settle at US$119M

OilNOW -
American oil producer, Hess Corporation reported on Wednesday that it made a net income of US$119 million, or US$0.39 per share, in the second quarter of 2023. This represents a significant dip in revenues when compared with net income...
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Hess’ carbon credits deal with Guyana outweighs its 2022 global emissions almost 10 times

OilNOW -
Hess Corporation's decision to buy carbon credits from Guyana will result in an emissions ‘offset’ that is nearly 10 times the company’s total global emissions in 2022. The New York-based global independent energy company has partnered with the government...
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Guyana gov’t says myriad benefits expected from US$190M Linden-Mabura road project

OilNOW -
Guyana’s Ministry of Natural Resources has reaffirmed its commitment to the US$190 million Linden to Mabura Road project. This ambitious initiative is part of the broader Georgetown to Lethem corridor development, aimed at improving trade and ground transportation between...
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MODEC’s Guyana contract drives 1,327% surge in orders for 2025

Japan-based floating production specialist MODEC Inc. has reported strong results for the first nine months of 2025, driven by...

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