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Local Content proving itself as tool to combat Dutch Disease in Guyana

OilNOW -
Local Content accounted for 5% of Guyana's economy in 2022, marking a milestone for the country's efforts towards economic diversification and combatting the dreaded Dutch Disease. The Local Content Act of Guyana, which mandates the procurement of goods and...
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Major coastal, highland communities in Guyana to switch to solar

OilNOW -
Guyana is set to make significant strides in its renewable energy sector, thanks to $83.3 million in funding from the Norwegian Agency for Development Cooperation (NORAD) for the Guyana Utility Scale Solar Photovoltaic Program (GUYSOL). The funding is being...
Industry Insight

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

OilNOW -
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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Builder of Guyana FPSOs placing major focus on sustainability

OilNOW -
Sustainability is a crucial tenet for SBM Offshore, the builder of the floating production storage and offloading (FPSO) vessels operating in Guyana’s offshore Staborek Block.  In a video published on LinkedIn last week, Chief Executive Officer (CEO) Bruno Chabas recalled...
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Exxon’s newly minted Prosperity FPSO for first annual inspection ahead of first oil

OilNOW -
The first inspection of the Prosperity floating production, storage and offloading (FPSO) vessel by Guyana’s offshore operations unit has been scheduled for May/June 2023, Guyana’s Minister of Public Works, Bishop Juan Edghill said on April 19. The activity is...
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Eni contracts Saipem’s Santorini drillship for two more years at US$280 million

OilNOW -
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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Local steel fabrication for Guyana oil vessel increases by 300%

OilNOW -
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

OilNOW -
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...
News

Enhanced oil and gas exhibit unveiled at Guyana’s National Museum; allows for 3D view onboard FPSO 

OilNOW -
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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Jennifer Geerlings-Simons makes history as Suriname’s first female President amid offshore oil plans 

PARAMARIBO-SURINAME: Suriname’s National Assembly convened on Sunday to elect the country’s next president in an important parliamentary session. In...

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