ExxonMobil’s contracted fleet of drillships in Guyana now stands at five with the recent departure of the Stena DrillMAX which has completed its assignment. The Maritime Administration Department (MARAD) said the vessel left Guyana’s Exclusive Economic Zone in January.
The...
The Guyana government can withdraw 96% of its 2024 earnings from the oil sector, based on the withdrawal rule in the Natural Resource Fund Act.
The rule allows the government to withdraw US$2.46 billion of the US$2.57 billion deposited into...
Minister of Natural Resources Vickram Bharrat announced that the process for ExxonMobil Guyana to relinquish 20% of the Stabroek Block is in its final stages.
The Petroleum Sharing Agreement (PSA) governing the Stabroek Block requires Exxon to relinquish 20% of...
Kimberly Lachman never imagined a career in the oil and gas industry. “I wanted to be a veterinarian as a kid. I didn’t see myself here as a logging geologist,” she admitted. Yet today, she is charting a course...
Guyana received US$2.57 billion (GY$536 billion) in oil revenue in 2024, based on monthly and quarterly reports of the Natural Resource Fund (NRF). The amount is 59% more than the approximately US$1.62 billion (GY$337 billion) that the NRF received...
Guyana’s former Foreign Minister, Carl Greenidge, has stressed the need for the nation to partner with financially strong and technically capable companies to ensure the sustainable development of its oil and gas sector.
Speaking during a webinar hosted by the...
There is no dispute between CGX Energy and the Guyana government, the country's Minister of Natural Resources, Vickram Bharrat, said Tuesday.
The Minister’s comment comes a month after CGX and Frontera Energy - joint venture partners in the Petroleum Prospecting...
The Guyanese government is awaiting a report from independent consultant IKM Acona AS before deciding on ExxonMobil’s plans to optimize the Liza Unity floating production, storage, and offloading (FPSO) vessel.
IKM Acona provides comprehensive consultancy and project management services to...
Guyana exported 225 crude lifts in 2024, as announced by Minister of Natural Resources Vickram Bharrat during a press conference on Tuesday.
Bharrat revealed that Guyana’s share was 28 lifts: seven from the Liza Destiny floating production, storage and offloading...
The 45-day timeline for Guyanese contractors to be paid by oil companies is still seen as too lengthy, so the government is looking to reduce this.
The payment timeline was initially 90 days; then it was reduced to 45 days...
