Featured

Saipem said it has been awarded two offshore contracts for a total amount of approximately US$900 million. The first contract was awarded by TotalEnergies for work offshore Brazil on the LAPA Southwest (LAPA SW) Development Project, a deepwater oil field...

Regulators in Guyana expect to approve two field development plans (FDPs) for offshore projects this year, according to information from the government’s 2023 national budget. The approvals are expected for ExxonMobil’s Uaru and Whiptail developments. Guyana’s Minister of Finance, Dr. Ashni...

Guyana’s Ministry of Natural Resources has shortlisted Bayphase and Stratoil to vie for the contract to evaluate the field development plan (FDP) for ExxonMobil’s fifth Stabroek Block project – Uaru. Initially, the list had stood at three, but De Godhyer...

Lands are currently being cleared on the Linden Soesdyke Highway for the construction of Guyana’s new urban centre outside its capital city of Georgetown – Silica City. The land clearing will initially focus on some 185 acres out of a...

Two wild cards dominate the 2023 oil market outlook: Russia and China. According to the International Energy Agency’s oil market report for January, 2023 could see oil demand rise by 1.9 million barrels per day (mb/d) to hit 101.7 mb/d...

Global Analytical Group, Wood Mackenzie said it expects low-key, direct negotiations rather than a proliferation of high-profile licensing rounds as countries look to accelerate their oil and gas potential. But even with that said, WoodMac noted that several licensing rounds...

Guyana’s Finance Minister Dr. Ashni Singh on Wednesday oversaw the signing of the Operational Agreement for the Management of the Natural Resource Fund (NRF) of Guyana between the Board of Directors of the Fund and the Bank of Guyana...

The industry has been asking for months when a Final Investment Decision (FID) for Suriname’s Block 58 would be made, but there has been no clear indication. There has however been speculation and opinions as to why there has...

John Fernandes, a household Guyanese name and brand has secured a US$4 million corporate loan from the International Development Bank (IDB) to secure Guyana’s second mobile crane. The deal was overseen by the country’s Minister of Finance, Dr. Ashni Singh...

The semi-submersible Noble Discoverer rig has arrived in Guyana to spud CGX Energy’s Wei-1 prospect in the Corentyne Block. This was confirmed to OilNOW by an official from Guyana’s Maritime Administration (MARAD).  Now, all bets are on Wei, a prospect deemed...