Saturday, July 2, 2022

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Eco Atlantic ups interest in Africa’s newest exploration hotspot

Eco (Atlantic) Oil & Gas Ltd. signed a farm-out agreement with the Lunn Family Trust to acquire an additional 6.25% stake in Block 3B/4B offshore South Africa. Lunn Family Trust is a shareholder of Ricocure (Proprietary) Limited. Subject to regulatory approvals,...

Gov’t warns Ramps it must submit documents that are not misleading

One day after it held a media conference demanding answers, Ramps was told by the Guyana Local Content Secretariat that the onus is on it, as an applicant, to submit documents that are not false or misleading. Ramps had applied...

With big offshore finds, Santokhi invites major influx of investors at Energy Summit

Paramaribo, Suriname - A brand-new chapter dawns for Suriname, quickly becoming one of the hottest new oil exploration destinations on the globe. And its President, Chandrikapersad Santokhi has opened the floodgates, inviting investors from all and sundry to help develop...

Ramps may have made misleading submissions in breach of Local Content Act, could be fined GY$10M – source

Ramps Logistics may have made misleading submissions in its application to be on Guyana’s Local Content Register, among several breaches of Guyana’s Local Content Act, OilNOW understands. The company has opened itself to a fine of GY$10 million, because of...

Norway-based E&P acquires Saipem’s US$73M FPSO to develop assets offshore Brazil

Shortly after snatching up two major deepwater blocks offshore Brazil, Norway-based BW Energy inked a deal with Saipem to acquire the Cidade de Vitoria oil vessel to develop the Golfinho cluster. According to BW, the deal amounts to US$73 million;...

Trinidad pays deepwater royalties, taxes for oil companies, caps cost recovery at 80%

Trinidad and Tobago’s model deepwater production sharing contract (PSC) offers attractive incentives to international oil companies (IOCs). All royalties, taxes and other levies are paid for out of the Government’s share of Profit Petroleum, which remains after costs are recovered up to a ceiling...

Over 60% of Suriname’s deepwater acreage remain unlicensed; new bid round nears

Suriname’s state oil company, Staatsolie is set to auction off several deepwater blocks this year with another bid round reportedly planned for the shallow blocks by mid-2023. “We are very excited about the prospects of releasing further offshore acreage,” Annand Jagesar,...

‘No path to net-zero without using gas as transition fuel’ – VP Jagdeo

As the world charts a path forward to net zero by 2050, some environmentalists argue that countries should leave the natural gas in the ground and move straight to renewable energy. But Guyana’s Vice President Dr. Bharrat Jagdeo argues...

Tom Mitro failed to prove Guyana losing big on cost oil deductions

By Joel Bhagwandin - OilNOW I am tired of responding to first world “so called experts” who have their own agenda and based on their absurd pronouncements on Guyana’s affairs, probably believe that we are an uneducated population and lack...

SOLD OUT: Suriname gearing up for major energy conference this week

The 2nd edition of the Suriname Energy, Oil & Gas Summit & Exhibition (SEOGS 2022) will be hosted this week in Paramaribo from June 28 to 30. The event is set to provide the opportunity to hear from government,...

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Nothing in the world more exciting to work on than Guyana’s projects – Exxon Upstream President

President of ExxonMobil Upstream Company, Liam Mallon, speaking at an event at State House in Georgetown on Thursday, said...