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Saipem adds ‘FlatFish’ underwater drone to boost monitoring, automatic inspections

OilNOW -
Saipem and Oil Spill Response Ltd. announced Monday that they have extended an existing partnership to include utilisation of Saipem’s FlatFish underwater drone robotic technology. The drone will be used for environmental monitoring and inspection of asset integrity. The existing contract between Saipem...
News

CGX, Frontera farmout deal gets conditional approval from Toronto stock exchange

OilNOW -
CGX Energy Inc. said Monday that the TSX Venture Exchange (TSXV) gave conditional approval for the agreement it made to farm out a majority stake in the Corentyne Block to Frontera Energy Corp. The agreement remains subject to certain confirmations from the...
Exploration

Frontera extends repayment deadline for US$19M loan CGX took to cover Guyana projects

OilNOW -
CGX Energy Inc. said the maturation date for a US$19 million convertible loan it took for Guyana projects has been moved. The loan outstanding to Frontera Energy Corp., was previously announced on April 16, 2021 and May 28, 2021. With original...
Discoveries

TotalEnergies, Eni announce significant gas discovery off Cyprus

OilNOW -
TotalEnergies and Eni (operator) have made a significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018. Located at approximately 160 km southwest of the Cyprus...
News

Over 900 people on six rigs supporting safe drilling operations offshore Guyana – Routledge

OilNOW -
President of ExxonMobil Guyana, Alistair Routledge, said in a recent interview that there are over 900 highly trained people in total, stationed on the Stena Carron, Stena DrillMax, Noble Bob Douglas, Noble Tom Madden, Noble Don Taylor and Noble...
Exploration

High-impact well activity to bounce back after one-year slump – Rystad Energy

Shikema Dey -
Norway-based Rystad Energy expects a rebound of high-impact drilling after what was described as a “disappointing” 2021 with success rates plunging to record lows. Rystad Energy classifies high-impact wells through a combination of factors, including the size of the prospect,...
News

Guyana pushing massive road projects; more than 100,000 new vehicles registered in 5 years

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In the past five years, the Inter-American Development Bank (IDB) has found that more than 100,000 new vehicles were registered in Guyana with 1,176 vehicles occurring every month. In one of its recent project documents, the financial institution said...
News

Touchstone’s Cascadura gas project gets greenlight

OilNOW -
Trinidad and Tobago’s Touchstone Exploration Inc. received its Certification of Environmental Clearance (CEC) to move ahead with its Cascadura gas project from the Ortoire block offshore. Touchstone has an 80% operating working interest in the Ortoire block, with Heritage Petroleum Company...
News

Exxon’s risk and Shell’s multi-billion-dollar missed opportunity in Guyana’s Stabroek Block

Shikema Dey -
Under different circumstances, ExxonMobil’s success in the Stabroek Block would have been shared with Royal Dutch Shell. The British multinational was ExxonMobil’s partner in the Stabroek Block prior to 2015, with a 50% stake. But looking at the data at...
News

‘They can’t pay local companies in 90 days; I don’t care who defends that’ – Guyana VP

OilNOW -
Vice President Dr. Bharrat Jagdeo has given all assurances that the government intends to close loopholes being used to frustrate and circumvent the requirements of the Local Content legislation as well as address issues affecting local contractors such as extended waiting periods for...
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Economist says Venezuela’s suspension of gas deals could be a ‘blessing in disguise’ for Trinidad

Trinidad and Tobago economist Dr. Justin Ram believes Venezuela’s decision to suspend its gas deals with the Caribbean country...

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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