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ExxonMobil’s cost estimate for the Whiptail development, recently approved by the Guyana government, has been slashed by approximately US$200 million. The project is targeting production of 850 million barrels of oil at 250,000 barrels per day (b/d). At the stage...

The government of Guyana issued two main permitting documents to the ExxonMobil-led consortium pursuing the Whiptail development.  Minister of Natural Resources, Vickram Bharrat, issued the Petroleum Production License on April 12, 2024.  See below:  Whiptail Petroleum Production License Download Executive Director of the...

Hess warned in a filing to the U.S. Securities and Exchange Commission (SEC) that its acquisition by Chevron could be pushed to 2025, Reuters reported.  Hess and Chevron had intended to close the sale in the middle of 2024. The delay...

Subsea7 announced the award of a sizable contract by Talos Energy for the Sunspear development in Green Canyon Block 78, in the Gulf of Mexico. The deal is valued in the range US$50-150 million. The project involves the subsea tie...

Mega project to start-up in 2027 The final investment decision (FID) for ExxonMobil’s sixth Stabroek Block development, Whiptail, has been made, the company announced on Friday.  The project, after ramping up, will add 250,000 barrels of oil per day to Guyana...

Guyana's Natural Resource Fund closed the first quarter of 2024 with US$2.36 billion (approximately GY$492 billion), according to a March report from the Bank of Guyana. The Fund’s overall balance, in March, registered a negligible shift from the US$2.36 billion...

SBM Offshore's subsidiary, Guyana Deepwater Operations Incorporated (GDO), is seeking a supplier to provide flights between Guyana and Suriname to connect crew members with KLM International flights to Amsterdam, Netherlands. The scope of service outlines key areas including the provision...

The Guyana government estimates a ruling by the International Court of Justice (ICJ) could come by the end of 2025, in the case concerning the Arbitral Award of 3 October 1899 (Guyana v. Venezuela).  “The timeline… with Venezuela fully participating...

Switzerland advocated for orders of the International Court of Justice (ICJ) to be respected, during a special April 9 meeting of the United Nations Security Council (UNSC) on the Guyana/Venezuela territorial controversy. According to the official X account (formerly Twitter)...

The forthcoming Local Content Summit, slated for April 16, 2024, at the Pegasus Suites and Corporate Centre, is gearing up to be a watershed event in the discourse advancing Guyanese participation in the oil and gas sector. Under the...