News

TechnipFMC, one of the prime contractors for ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), said on Thursday that it recorded US$1.7 billion in revenues for the third quarter of this year. Chair and Chief Executive Officer (CEO), Doug...

The US$30 million (GY$6 billion) Nismes wharf and laydown yard development, conceptualised by GAICO Construction and General Services Inc. is expected to be operational from January 2023. This is according to GAICO’s Managing Director, Komal Singh. The facility will serve as the land base from which pipeline laying for the Gas-to-Energy project could progress. Singh has described the project as...

Development work for two large ExxonMobil-led Guyana projects - Payara and Yellowtail - are progressing. Hess Corporation, a 30% stakeholder in the Stabroek Block where both projects will be operationalized, provided an update this week. The projects will add nearly...

French multi-energy company, TotalEnergies, has joined the ranks of other oil majors recording massive profits for the third quarter of 2022. Its executives reported this week that earnings jumped by more than 40% to US$6.6 billion in Q3. In...

Britain’s oil and gas regulator – North Sea Transition Authority (NSTA) – on Friday issued a warning to the industry that it would not hesitate to take action against companies that fail to meet their licence obligations. The warning was...

While he agrees wholeheartedly with Guyana’s move to implement robust Local Content legislation, Chief Executive Officer (CEO) of Ascending Limited, Andrew Schnitzer da Silva, asserts that authorities may wish to consider extending the transition period for compliance beyond 2022....

Schlumberger, now called SLB, the world’s largest oilfield services provider and a key contractor for ExxonMobil’s operations in Guyana, has recorded a US$7.5 billion earning in the 2022 third quarter. This represents a 10% growth over the 2022 second...

American oil giant ExxonMobil Corporation posted yet another record-breaking profit with earnings for the third quarter of 2022 totalling US$19.7 billion. In the second quarter, the company recorded US$17.9 billion in earnings, its largest quarterly record ever at that time. This...

The International Court of Justice (ICJ) has announced that it will hold public hearings in the case concerning the Arbitral Award of 3 October 1899 (Guyana v. Venezuela) – the matter concerning the controversy over the Essequibo region –...

ExxonMobil is the latest in over 20 oil and gas companies operating in Guyana to have their five-year Local Content master plans approved by the regulator. Exxon, Saipem Guyana Inc., and Gulf Engineering Services Guyana Limited got their approvals this...