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Development drilling activities in the Stabroek Block have increased as operator ExxonMobil Guyana gears up to commission the Prosperity floating production, storage, and offloading (FPSO) vessel.  According to the Maritime Administration Department (MARAD), the PY_1i2 Well Site is located approximately...

Capricorn Energy PLC, an oil and gas exploration company, has announced its decision to divest its Suriname asset as it shifts its focus towards Egypt.  Capricorn currently operates Block 61, located in the Guyana-Suriname basin, where significant discoveries have been...

Guyana Vice President Dr. Bharrat Jagdeo recently explained that the government does not want oil companies to sit on blocks for years without executing their work commitments. This has informed proposed changes to the country’s oil law.  Among the mechanisms...

Saipem has secured two significant offshore drilling contracts worth a combined total of approximately US$550 million. These contracts were awarded in the Middle East and the Mediterranean Sea. In the Middle East, Saipem has obtained a ten-year extension to an...

The Organisation of Petroleum Exporting Countries (OPEC) on June 27 said that it has not invited South America’s newest oil producer - Guyana to become a member, contrary to a Wall Street Journal report.  “In view of recent reports about...

Hess Corporation’s Chief Executive Officer (CEO), John Hess has confirmed that extensive appraisal work is being undertaken to properly develop the Fangtooth field as the seventh project for the Stabroek block partners. During a recent conference, Hess said it is...

With all major contracts awarded for the Gas-to-Energy project, and development works underway, here is an updated breakdown of the basics - parameters, costs, timelines, and other key information. What is the Gas-to-Energy project?  The Gas-to-Energy project is purposed to...

The Organisation of Petroleum Exporting Countries (OPEC) has its eyes on Guyana but its efforts at persuading the South American nation to join the group have been unsuccessful to date.   “We don’t want to be part of OPEC at...

Guyana's Opposition Leader, Aubrey Norton on Monday expressed disappointment with the newly released Petroleum Activities Bill, stating that it fails to incorporate the lessons learned from challenges faced by the country's oil and gas industry in recent years. The...

By Dr. Lorraine Sobers - OilNOW Guyana has launched into the energy sector at an historic time as the world begins the energy transition away from predominant fossil fuels to increasing renewable energy use. Starting in 2015, the country rapidly...