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Shell looking to re-enter South America’s hottest new basin

Shikema Dey -
After cutting its losses on Guyana’s offshore acreage 10 years ago, Shell could make a stunning return. Reuters’ sources say that Petrobras, Chevron, and Shell are considering bidding on the 14 oil blocks on auction in Guyana’s current licensing round. Guyana’s...
News

Gas strategy to address monetisation of discoveries beyond Liza field – Jagdeo

OilNOW -
Vice President Dr. Bharrat Jagdeo disclosed Friday that Guyana’s National Gas Strategy will examine the monetisation of resources that are outside of the Stabroek Block’s Liza field. The official said this document will be finished by year-end, adding that...
Exploration

Exxon continuing drilling operations at Fangtooth; likely to be 7th Guyana project

OilNOW -
ExxonMobil Guyana is continuing drilling operations at the Fangtooth well site, which yielded a discovery last year, the Maritime Administration Department (MARAD) revealed in a notice. Operations are being undertaken by the Stena Carron rig and are expected to take...
News

Trinidad and Tobago gets high overall score for EITI implementation

OilNOW -
The Norway-based Extractive Industries Transparency Initiative (EITI) has graded Trinidad and Tobago 89 points out of 100, a high overall score in implementing the 2019 EITI Standard. This Standard outlines requirements for implementing countries in their mission to disclose...
News

TotalEnergies inks deal to buy CEPSA’s upstream assets in the UAE

OilNOW -
TotalEnergies said it signed an agreement to acquire CEPSA’s upstream assets in the United Arab Emirates, with effect from January 1, 2023. The assets to be acquired are: a 20% participating interest in the Satah Al Razboot (SARB), Umm Lulu, Bin...
News

Frontera farm-in to Corentyne complete; Demerara, Berbice blocks relinquished

OilNOW -
In narrowing their focus on the northern section of the Corentyne Block, the co-venturers have completed a farm-in agreement that increased Frontera Energy’s stake to 68% and decreased CGX Energy’s stake to 32%. CGX announced the completion last Wednesday. The farm-in...
News

24 Guyanese to get fast-tracked introduction to oil sector with GO-NDE’s new “Learn & Earn” training program

OilNOW -
GO NDE Inc. has teamed up with Global Compliance Service Inc. to grant 24 Guyanese nationals an opportunity to fast-track their introduction to the oil and gas industry through its newly developed “Learn & Earn” Training program. GO NDE said...
News

Flooding market with foreign currency in response to “artificial shortage” could invite Dutch Disease – VP Jagdeo

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI), a key advocate for the business community in Guyana, has complained in recent weeks of foreign currency shortage. This, it said makes conducting trade costlier. But Guyana’s Central Bank as well...
News

Exxon’s Kaieteur, Canje blocks will comply with new PSA terms – VP Jagdeo

OilNOW -
As he maintained there will be no renegotiation of the Stabroek Block Production Sharing Agreement (PSA), Guyana’s Vice President, Dr. Bharrat Jagdeo has confirmed that nine other offshore blocks will be subjected to new terms which include a 10%...
News

“Great confidence” in Block 58’s Sapakara reservoir as resource estimate jumps to 600+ million – APA Corp.

Shikema Dey -
Despite the uncertainty surrounding a final investment decision (FID) for Suriname’s Block 58, the President and Chief Executive Officer (CEO) of partner APA Corporation, John Christmann expressed confidence in the Sapakara prospect. In fact, Christmann told investors that it would...
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Kuwait, Qatar, other long-established producers now trail Guyana in per capita oil output

Countries with some of the world’s most mature petroleum industries now rank behind Guyana in per capita oil production,...

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