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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...

Leaders of the two major producers of hydrocarbons in the Caribbean Community (CARICOM) —Guyana and Trinidad & Tobago— announced on Thursday that significant headway was made on defining collaborative efforts that will be pursued to ensure food security in their respective states. Specifically, Prime Minister...

With there being no legal constraints in the way, Vice President, Dr. Bharrat Jagdeo is of the view that a Guyanese consortium should have a chance to participate in the imminent oil blocks bid round which will now be...

Keppel Offshore and Marine – a subsidiary of Keppel Shipyard – has secured a US$2.9 billion contract for the engineering, procurement, and construction of a new platform vessel for Brazil’s Petrobras. It would be the ninth vessel for Petrobras’ Búzios offshore oil field. Scheduled for...

Guyana’s Head of State, Dr. Mohamed Irfaan Ali and Trinidad & Tobago’s Prime Minister, Dr. Keith Rowley advanced talks Thursday regarding energy security for the region. This was revealed by both leaders during a joint press conference in Port of Spain. Bilateral discussions were...

Guyana’s planned offshore oil block auction may come later than expected as its government works assiduously to get the fiscal terms right to ensure balanced benefit to the parties involved. The Vice President, Dr. Bharrat Jagdeo told the press on...

Twenty-three officers within the Customs Petroleum Unit (CPU) of the Guyana Revenue Authority (GRA) have successfully completed a Tropical Helicopter Underwater Egress Training (THUET) course to develop knowledge and operating procedures in offshore safety and emergency response. The training session...

The Maersk Discoverer semisubmersible drilling rig is confirmed for exploration operations offshore Guyana in the fourth quarter of this year. According to Maersk’s latest Fleet Status Report, the rig is scheduled to be in Guyana, on contract with CGX Resources...

In the context of local content, “fronting” is a case where nationals may be listed as shareholders, executives, or management, without real participation in the strategic decision-making process of foreign companies. They may even have lower salaries than their...

Nigerian National Petroleum Company (NNPC), the state energy firm, announced the signing of a series of Production Sharing Contractors (PSC) aimed at boosting offshore oil production. Fully termed agreements were signed off with renegotiated PSCs for five oil mining leases...