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Guyana is top frontier jurisdiction for oil and gas investment – S&P Global

OilNOW -
Competition between frontier and early-stage producers has become more intense as exploration companies focus on fewer basins in response to budget discipline. Explorers are also keen on delivering rapid results to bring hydrocarbons to market as the energy transition...
News

Tullow expected to drill Amatuk well in 2023, after relinquishing 20% of Orinduik Block

OilNOW -
S&P Global expects the Amatuk prospect in the Orinduik Block to be the exploration target of Tullow Oil in 2023. The analyst firm named Amatuk in its high impact well (HIW) drilling outlook for 2023, alongside CGX’s Wei-1 well...
News

Tilapia-1 well estimated to hold over one billion barrels of recoverable resources – S&P Global Platts

OilNOW -
Back in 2019, Westwood Global Energy Group put the resource estimate for ExxonMobil’s Tilapia-1 find in Guyana’s offshore Stabroek Block at 300 million barrels. But new estimates by S&P Global Platts puts the estimate significantly higher. S&P listed Tilapia-1 as holding...
News

Guyana closes 2022 with US$1.27 billion in oil revenues

Kemol King -
The Guyana government published payments received in the Natural Resource Fund (NRF) in the final quarter of 2022 (October-December), revealing that the final profit oil lift sold in December returned US$83.808 million.  In December, US$207.6 million was also withdrawn as...
News

OPITO approved JV to partner with gov’t to equip ‘green’ Guyanese with basic O&G safety, training skills

OilNOW -
ODITC – the 3T EnerMech OPITO Training Centre of Excellence is planning to introduce a new course in collaboration with the Guyana government, on basic oil and gas safety training for Guyanese looking to pursue careers in the sector. Alan...
Exploration

Stabroek Block co-venturers targeting Fangtooth for 7th development

Shikema Dey -
ExxonMobil’s Fangtooth discovery is being targeted for the seventh development offshore Guyana at the prolific 6.6 million acres Stabroek Block. The magnitude of the reservoir is likely to facilitate a standalone Floating Production Storage and Offloading vessel.  This disclosure was...
Opinions

The Right to Produce

OilNOW -
By Cristina Caus and Jerry Haar - OilNOW After years of resistance from rich governments, in November 2022 at the COP27 Summit in Egypt the principals finally agreed to set up a “loss and damage” fund to help developing nations...
News

No impact study required for Guyana’s landmark 300MW gas to power plant

Kemol King -
Guyana’s Environmental Protection Agency (EPA) has announced that the 300 megawatts (MW) natural gas power plant is exempt from the requirement to conduct an Environmental Impact Assessment (EIA). It made this decision on the basis, it said, that the proposed...
News

“Era of retrenchment” underway as Exxon, Chevron pull int’l projects to focus on lucrative assets in Americas – Wall Street Journal

OilNOW -
Chevron Corp. and ExxonMobil – two of the biggest oil and gas majors on the globe have been pulling the plug on mega international projects to focus attention on more lucrative ventures in the Americas. The Wall Street Journal is...
News

Guyana moves to establish smart grid to support Gas-to-Energy project

OilNOW -
With construction for Guyana’s Gas-to-Energy (GtE) project set to begin this year, the government is moving to put associated infrastructure in place. Among these is the Guyana National Control Centre (GNCC) and smart grid project. For phase 1 of...
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Letter-to-the-Editor: Guyana’s oil and gas sector is experiencing responsible growth

Dear Editor, I am constantly engaged with reports across a range of industries—none more prominent in recent years than 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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