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Eco Atlantic Oil and Gas has successfully upped its participating interest share in Block 3B/4B offshore South Africa by 6.25%. The company in an announcement on Monday said it received all the requisite regulatory approvals from the Department of Mineral Resources and...

Quanten Consortium Angola LLC, Environmental Solutions Inc. and SPEC Energy DMCC are the latest US-based companies bidding to build Guyana’s 30,000 barrels per day modular refinery. Quanten said it focuses on developing “transformational projects” in emerging markets with interventions that support deep,...

Subsea 7 S.A. on Friday said it was awarded three contracts by Aker BP for work offshore Norway. The awards included a major contract (over US$750 million) for Yggdrasil field development project (formerly NOAKA), a large contract (US$300-500 million) for Skarv Satellite Project and a substantial contract (US$150-300 million) for...

OPEC – the Organisation of Petroleum Exporting Countries – forecasts a hike in the world oil demand in 2023 by at least 2.2 million barrels per day (bpd) year-on-year, according to its latest Oil Market Report. OPEC said that Organisation...

As Guyana continues efforts to build out a robust regulatory and legislative framework for the oil industry, it would also be wise to keep its eyes on policies and programmes that target inclusionary growth. United States Ambassador to Guyana,...

Come 2023, Consultancy Group Wood Mackenzie expects there to be a significant acceleration of global gas-led activity. In its latest ‘5 THINGS TO LOOK FOR IN 2023’ report, WoodMac anticipates a rapid or modular monetisation of gas assets. It...

Brazil’s Petrobras plans to place 18 floating production, storage, and offloading (FPSO) vessels offshore Brazil in the next five years, according to its 2023-2027 Strategic Plan. The vessels’ capacities will range from 70,000 to 225,000 barrels of oil per day...

Italian contractor Saipem is looking for local welders to assist with its operations offshore Guyana. According to a notice posted by Country Manager, Gianluigi Della Rosa to LinkedIn, the selected welders must be able to operate an electrode holder, welding...

In its 2020 manifesto, the People’s Progressive Party/Civic administration pledged to ensure better contract management for the Stabroek Block Production Sharing Agreement (PSA) and future contracts. In just two years, the government has embarked on a number of legislative and...

Come January next year, Guyana will be dispatching new bilateral requests to Brazil’s new President-elect Luiz Inácio Lula da Silva as it looks to foster closer relations through the creation of a deepwater harbour connecting the two countries. Guyana’s President,...