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Exxon awards multi-million-dollar contract to DOF Subsea for work in Stabroek Block

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DOF Subsea has been awarded a NOK$2.7 billion (US$256.1 million) contract by ExxonMobil to execute works in Guyana’s offshore Stabroek Block where 11 billion barrels of oil-equivalent have already been discovered. DOF Subsea said the contract will last three years...
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Guyana to add 757 kW of solar energy in hinterland areas by year end

OilNOW -
By the end of this year, the Guyana Energy Agency (GEA) is expected to complete installations, adding up to 757 kilowatts (kW) of solar capacity in hinterland communities. The project forms part of the government’s aggressive push to expand renewable...
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US$5.4 billion mega port for Suriname; to feature LNG facility, shorebase and economic zone

OilNOW -
Phoenix Development Company and Suriname’s Port Management Company, N.V. Havenbeheer, have teamed up to build a mega Deep-Water Port and Special Economic Zone – Port of Nickerie – in Suriname, with projected investment of approximately US$5.4 billion. With several oil...
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Government halts Ramps’ local content application pending outcome of criminal charges

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Head of the Local Content Secretariat, Martin Pertab, by way of an affidavit filed in court, revealed that the review of an application by Ramps Logistics Guyana for a Local Content Certificate has been halted. Pertab said this decision is...
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Noble Discoverer set to arrive in Guyana this weekend to drill CGX’s Wei-1 well

OilNOW -
CGX Resources Inc.’s Wei-1 well is expected to be spud later this month when the Noble Discoverer semi-submersible drilling rig arrives in Guyana on October 22. After the completion of a merger of Noble Corp. and Maersk Drilling on October...
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US$493M payout from Guyana’s third quarter oil sales, royalties gazetted

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In keeping with a transparency mandate outlined in the Natural Resource Fund Act 2021, the government of Guyana has published in its official gazette, the receipts of funds into the Natural Resource Fund. According to the data, the government received...
News

TechnipFMC, Stena Drilling among 11 more companies to have local content master plans approved

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Eleven major oil and gas support service providers including TechnipFMC and Stena Drilling received the stamp of approval from the Local Content Secretariat for their five-year Master Plans. On October 19, the Minister of Natural Resources, Vickram Bharrat, met with...
Opinions

National transformation via local content requires diaspora engagement, education, trust, and capital

OilNOW -
By Dr. Carolyn Walcott and Dr. Terrence Blackman - OilNOW Guyana's oil fortunes are a gold mine with numerous opportunities for citizens to develop and deliver local content, essential goods, and services to support the oil and gas sector. However,...
News

Western Logistics to hire 1000 Guyanese as part of new approved five-year Master Plan

OilNOW -
With its five-year Local Content Master Plan approved by the Ministry of Natural Resources, Western Logistics Guyana aims to expand its human resource capacity by some 1,000 Guyanese. According to its Operations Director, Pradeep Ramoutar, the locally owned and operated...
News

Exxon sent out 35 letters seeking new partners after Shell walked away from Stabroek Block

OilNOW -
Before China National Offshore Oil Corporation (CNOOC) and Hess Corp. partnered with ExxonMobil to become the Stabroek Block co-venturers we know today, there was Shell. The British multinational held a 50% stake with Exxon, but the company opted to leave...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. 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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