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2023 to be a boon year for project approvals with 30 expected to reach FID – WoodMac

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Wood Mackenzie predicts a positive outlook for project development with 30 out of the viable 40+ expected to reach final investment decisions (FIDs) in 2023.  But it does not come easy.  WoodMac’s Vice President, Head of Upstream Analysis Frank McKay and...
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TechnipFMC Guyana team cops ExxonMobil safety award

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TechnipFMC has been recognised by oil giant ExxonMobil for its adherence to the strictest safety standards  The subsea specialists Guyana team, serving the Exxon-operated Stabroek Block, copped the ExxonMobil Global Projects President’s Safety, Security, Health and Environment (SSH&E) Award, TechnipFMC...
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Local steel fabrication for Guyana oil vessel increases by 300%

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Guyana's fourth oil production vessel - ONE GUYANA - is the second to be outfitted with locally fabricated steel, representing yet another win for local content for the country.  ExxonMobil Guyana President Alistair Routledge revealed that 200 tonnes of steel...
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Guyanese company, Farfan and Mendes, acquires DNV certification

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Farfan and Mendes Limited, Hose and Rigging Division has achieved DNV type approval certification for the manufacture and repair of wire rope slings for cargo-carrying units manufactured to the DNV 2.7-1 standard.  “The certification recognises the division's commitment to providing...
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Eni contracts Saipem’s Santorini drillship for two more years at US$280 million

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Saipem said it has been awarded a two-year contract extension by Eni S.p.A. for the use of the Santorini drillship in the Gulf of Mexico. The contract extension, which will give continuity to ongoing activity, will come into force...
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Enhanced oil and gas exhibit unveiled at Guyana’s National Museum; allows for 3D view onboard FPSO 

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Oil has become an important part of Guyana’s history, preserved and on view at the country’s National Museum as Stabroek Block operator ExxonMobil relaunched the new and improved oil and gas exhibit.  While many will not be able to travel...
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Guyana oil fund managers eyeing benefits from high interest rates; no investment plans yet

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The Board of Directors for Guyana’s Natural Resource Fund (NRF) has issued its first mandate for the account, ordering that the funds remain put, as outlined in Central Bank’s 2023 first-quarter report.  During the quarter, the report states that a...
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Baker Hughes books over US$300M in new energy orders this year, nets US$5.7B for quarter 

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Oilfield service company Baker Hughes raked in US$5.7 billion in revenue as the first quarter of 2023 closed, with over US$300 million in new orders already secured.  In its earnings report for the quarter, Baker Hughes said the stronger-than-expected quarterly...
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Mapping Guyana’s Path Between Climate Change and Energy: Ulric Trotz’s White Paper

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By Scott B. MacDonald Climate change and energy transition have converged as the two major forces shaping the world in the early 21st century. In the Caribbean, the newly minted oil producing state, Guyana, finds itself pulled by both forces,...
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Jagdeo calls Suriname Agri-Minister “a shady character” after fishing licenses row

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Guyana Vice President Dr. Bharrat Jagdeo referred to Suriname’s Agriculture Minister as a “shady character” following a fishing licenses row between the two countries. Parmanand Sewdien is the Suriname official in question. “… Suriname and some of the Ministers, especially...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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