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Korea explores enhanced economic collaboration with Guyana through concessional financing 

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Korea has set its sights on bolstering economic ties with Guyana, as evidenced by the Export-Import Bank of Korea's initiative to offer substantial concessional financing for prospective projects. Park Jong-Kyu, Vice President and Head of Group at Korea Eximbank,...
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Exxon’s 6th Guyana FPSO named Jaguar after national animal

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Guyana’s Minister of Natural Resources Vickram Bharrat recently announced that Bayphase, an international oil and gas consultancy firm, is reviewing ExxonMobil's Field Development Plan (FDP) and Environmental Impact Assessment (EIA) for its sixth Stabroek block development.  Bharrat said that the...
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Venezuela claim of xenophobia being promoted in Guyana is patently false – Jagdeo

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Guyana's Vice President Bharrat Jagdeo is making it clear that the government does not promote nor condone xenophobia, as claimed by Venezuelan Vice President, Delcy Rodriguez, at a recent hearing of the International Court of Justice (ICJ). Jagdeo related...
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Exxon looking for more suppliers for its Guyana operations  

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ExxonMobil Guyana Limited (EMGL) is gearing up to engage suppliers for the provision of another set of onshore and offshore services as part of its operations in the Stabroek license area. According to public requests for information (RFIs), the company...
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TT’s Touchstone hits stride with Cascadura project 

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Trinidad-based Touchstone Exploration is celebrating success with its Cascadura project, evident from the company's third-quarter results released on November 14. The impact of Cascadura's initial output on both production profile and operating cash flows has been substantial, as highlighted...
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Record-breaking 17 back-to-back holes drilled off Guyana coast 

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Stena Drilling has made a groundbreaking achievement with its DrillMax rig, completing an unprecedented 17 back-to-back holes in the deepwaters offshore Guyana. This remarkable feat marks the largest number of back-to-back top holes ever drilled by a Stena Drilling...
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MODEC starts construction of Errea Wittu FPSO for Exxon’s 5th Stabroek block development

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MODEC announced the inaugural steel-cutting ceremony for the Guyana-bound Errea Wittu floating production, storage and offloading vessel (FPSO) in China, on November 16. The firm secured its initial order to supply an FPSO to Guyana in May 2023, commissioned...
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Sheriff Group to bring China’s world-class architecture and engineering-design know-how to Guyana in landmark pact

OilNOW -
Sheriff Group of Companies is on the cusp of a partnership, it says, that is set to redefine construction and development in Guyana. Teaming up with ARCPLUS GROUP (INT’L) CO., LIMITED, and East China Architectural Design and Research Institute...
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Guyana local content spend estimated at US$720 million in 2023

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Local content spend is estimated at US$720 million in 2023, reflecting the capabilities of the private sector and adherence to the Local Content Act, legislated at the end of 2021. Dr. Martin Pertab, Director of the Local Content Secretariat,...
Industry Insight

Five major implications of the Chevron-Hess US$53 billion acquisition

OilNOW -
By Arthur Deakin - OilNOW The recent merging of oil and gas companies in the U.S. indicates that energy majors see a long-term future for specific hydrocarbons in the energy transition. Chevron’s announcement of their US$53 billion all-stock acquisition...
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Look beyond the barrels for the success of Guyana’s oil industry – Ali 

President Irfaan Ali has urged Guyanese to measure the success of the oil industry by more than just the...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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