News

Consultancy group Rystad Energy estimates that the five offshore discoveries made so far in Suriname hold cumulative recoverable resources of around 1.9 billion barrels of oil equivalent and anticipates production to come on stream by the end of decade,...

The Liza Unity FPSO, the first oil production vessel to be built by SBM Offshore using its pioneering Fast4Ward® program, will soon depart the Keppel Shipyard in Singapore for Guyana where it will be spread moored at the ExxonMobil-operated...

Guyanese businesses have been playing an increasing role in the offshore exploration and production activities with more services being provided directly from local suppliers now than what previously obtained following the 2015 Liza discovery. This is a direct result of...

A Dedication Ceremony was held on Saturday, June 12, 2021, for the giant Liza Unity FPSO that will be developing around 600 million barrels of oil offshore Guyana as part of the Liza Phase 2 Development. https://www.youtube.com/watch?v=CZVUSNdOfKk  

First Lady of Guyana, Arya Ali, officially dedicated the Liza Unity Floating Production Storage and Offloading (FPSO) vessel at a ceremony held at the Cara Lodge Hotel on Saturday, June 12, in the country’s capital, Georgetown. The vessel is...

Oil and gas exploration is risky business. Prior to the 2015 Liza discovery, all available data pointed to a high probability of not finding any commercial hydrocarbons offshore Guyana. The level of uncertainty was so high that U.S. oil...

(Reuters) Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent was up 85 cents, or 1.2%,...

Guyana, now in its second year as an oil producing nation, could see revenues from royalties and the sale of its Liza Crude surpassing the US$500 million mark by the end of the year. The country has already exported a...

Guyanese company, Western Logistics, successfully cleared the Bourbon Rhesos in one day upon its arrival in the new oil producing South American country. Bourbon provides marine and logistics as well as subsea services to the global oil and gas...

Guyana’s Minister of Natural Resources, Vickram Bharrat has assured that by the end of this year the government will commence putting into legislation its Local Content Policy. OilNOW understands that following the extended month-long consultations in March, a team from...