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Anita Garibaldi vessel arrives in Brazil for Campos Basin operations

OilNOW -
Japan’s MODEC Inc. announced on Monday that the Anita Garibaldi MV33 floating, production, storage and offloading (FPSO) vessel has arrived in Brazilian waters and is scheduled for commissioning before being deployed to the Campos basin. MODEC said the final commissioning...
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Oil to fund almost 30% of Guyana’s 2023 budget

OilNOW -
Guyana’s Finance Minister on Monday presented a national budget of GY$781.9 billion (US$3.75 billion) for the fiscal year 2023, of which oil revenues will contribute 26.7%. The Minister said that GY$208.9 billion (US$1 billion) is legally allowable for withdrawal from...
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“Better than expected” Guyana’s oil economy grew 124.8% in 2022 – Finance Minister

OilNOW -
Guyana's Finance Minister Dr. Ashni Singh said the country's oil sector expanded by 124.8% in 2022. The Minister revealed this during his presentation of Guyana’s 2023 budget. A total of 101.4 million barrels of crude were produced in the full year...
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Guyana’s President among headliners for upcoming TT Energy Conference

OilNOW -
Guyana’s President Dr. Irfaan Ali will be among the other CARICOM heads of government to deliver feature remarks at the upcoming Trinidad and Tobago Energy Conference. T&T’s Energy Chamber – the official hosts of the signature event made the announcement. The...
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2023: Major wells to watch in South America’s hottest basin

OilNOW -
With high-impact drilling set to make a rebound in 2023, there are several high-impact wells in the Guyana-Suriname Basin to watch out for. Rystad Energy classifies high-impact wells through a combination of factors, including the size of the prospect, whether...
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Wait a while to talk renegotiation; show that investments in Guyana are stable – Bhagwandin

OilNOW -
Calls for Exxon’s Stabroek Block production sharing agreement to be renegotiated have not waned in some quarters. Guyanese economist Joel Bhagwandin says proponents are acting prematurely. He urges them to wait a few political cycles.  “The sanctity of an investment...
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Sri Lanka to auction around 900 offshore oil blocks

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Sri Lanka has joined the list of countries looking to garner as much investment as it can from offshore oil and gas resources. President, Ranil Wickremesinghe, recently finalised new regulations to allow for companies to sign an expression of...
Discoveries

Significant gas deposit found at Nargis well offshore Egypt – Eni

OilNOW -
Eni announced a significant new gas discovery by Chevron at the Nargis-1 exploration well located in the Nargis Offshore Area Concession, in the Eastern Mediterranean Sea, offshore Egypt. The Nargis-1 well encountered approximately 200 net feet (61 metres) of Miocene...
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Exxon seeking approval for 6th Guyana project, to push output over 1.2 million bpd

Kemol King -
ExxonMobil Guyana has asked Guyana’s Environmental Protection Agency (EPA) to commence an authorisation process for its sixth project offshore the South American country; the Whiptail development. The Whiptail- 1 discovery was announced in July 2021. The Whiptail-1 well encountered 246...
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Study confirms Guyana would remain carbon sink at peak Stabroek Block operations

Kemol King -
A new Environmental Impact Assessment (EIA) published by Guyana’s Environmental Protection Agency (EPA) has confirmed that even with ExxonMobil’s aggressive development plans, the country’s carbon sink status would remain. Basically, Guyana’s forests remove a lot more greenhouse gas (GHG) emissions...
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Here’s everything you need to know about ExxonMobil’s proposed Longtail development 

ExxonMobil’s proposed Longtail project will mark Guyana’s entry into gas development, setting the stage for the country’s first non-associated...

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