News

Block 58 partners advancing first oil development as Sapakara resource estimate jumps to 400 million+ barrels

Plans for Suriname’s first offshore oil development are advancing at what is turning out to be the country’s most prolific deepwater acreage at Block 58 where another discovery was announced just this week. APA said in its Q4 2021 Financial...

Guyana’s Local Content Registry up and running

As required by Guyana’s Local Content Act, the Local Content Registry became operationalised on Tuesday afternoon. This portal compiles a list of suppliers from which goods and services may be procured, or as an individual seeking employment within the...

Guyana beats out regional oil players, Brazil, Argentina in competitiveness – IHS Markit

Business intelligence firm, IHS Markit, has assessed Guyana as the 10th most competitive exploration and production jurisdiction in its Petroleum Economics and Policy Solutions (PEPS) analysis. “Guyana today is in a competitive position… and I hasten to add, ahead of...

Exxon targeting hydrocarbons at multiple wells – Lukanani-1 to come under drill bit

In keeping with the Guyana government’s stated position of accelerating exploration and production activities offshore, ExxonMobil is forging ahead with its 2022 work plan, targeting multiple wells at the prolific Stabroek Block where it has already found more than...

Escalating tensions in Europe pushes oil towards $100/barrel

(Reuters) - Oil hit its highest since 2014 on Tuesday as tensions between Russia and Ukraine escalated after Moscow ordered troops into two breakaway regions in eastern Ukraine, adding to supply concerns that are pushing prices to near $100...

Guyanese to head SBM Offshore’s local operations

SBM Offshore Guyana announced on Monday that Guyanese business and finance specialist Mr. Martin Cheong will be appointed to the post of General Manager for its local operations, effective March 1, 2022. Mr. Cheong, whose current role is Project Support...

TotalEnergies strikes more oil at Suriname’s Block 58

TotalEnergies and APA Corporation said on Monday they have made a significant new oil and associated gas discovery at the Krabdagu-1 well, in the central area of Block 58, offshore Suriname. This follows previous discoveries at Maka, Sapakara, Kwaskwasi...

Guyana working on gas strategy; Ghana to provide assistance – Vice President Jagdeo

The Guyana government appears ready to take more bold but cautious steps in the hydrocarbon arena as it is focusing some of its energy on creating a gas strategy with the assistance of its West African counterpart, Ghana. Confirming this...

Kawa answers lingering questions about commerciality of blocks outside Stabroek – Rystad Energy

The announcement by CGX on January 31 that it had encountered oil at Kawa-1, after more than 20 years of seismic data acquisition and drilling on the Corentyne Block, is being viewed as highly significant by Norway-based energy research...

Oil falls amid Russia, Ukraine uncertainties

(Reuters) - Oil prices fell on Monday, reversing course from strong initial gains, as news of fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from concerns about crude supply. Brent crude futures and U.S. West Texas Intermediate...

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Dominican Republic can help Guyana bridge gaps, place progress on par with developed world- Pres. Ali

Guyana's President, Dr. Irfaan Ali deemed the Dominican Republic a pivotal ally that can help his country bridge many...