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Exxon says its procurement methods capture best market value for Guyana, audits are normal part of operations

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ExxonMobil Guyana says its budgets for operations in the South American country which include expenditure for approved projects and wells drilled are routinely reviewed by the natural resources ministry and that it employs robust systems to ensure Guyana gets...
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Stabroek Block delivering high volumes, big value, Hess calls it ‘motherload’

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When one considers the industry leading breakevens, the high-quality reservoirs, and the free cash flow that will be generated annually, there is no doubt that Guyana’s Stabroek Block is truly “the motherload” says Hess Corporation’s Chief Operating Officer, Greg...
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Stabroek Block partners hopeful for extension on exploration license

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ExxonMobil's affiliate, Esso Exploration and Production Guyana Limited (EEPGL) has approached the Guyana Government for an extension on its Stabroek Block exploration licence due to the COVID-19 pandemic. This is according to Hess Corporation which holds a 30 percent...
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Natural Gas has unquestionable benefits in energy transition; should not be subjected to negative banter- TT Energy Minister

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While some leading experts and institutions across the world have called on nations to quickly transition to cleaner sources of energy, particularly renewable options, Trinidad & Tobago is insisting that it will adhere to this call on its own...
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Energy Conference 2022 to see high level support from Guyana government

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Guyana’s President Dr Mohamed Irfaan Ali said on Thursday that his government is pleased to partner with the International Energy Conference and Expo for the four-day event scheduled for mid-February in Guyana. “We believe that the multifaceted nature of the...
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Tullow walks away from Suriname, holds onto Guyana with 200-million-barrel campaign planned next year

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UK-based multinational oil and gas exploration company Tullow Oil is calling it a day in Suriname. Drilling operations at the Goliathberg-Voltzberg North (GVN) exploration well at Block 47 failed to deliver commercial crude earlier this year after reaching total...
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APA conducts flow test, delivers ‘excellent quality black oil reservoir’ offshore Suriname

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APA Corporation announced results on Wednesday from flow testing at the Sapakara South appraisal well and drilling results from the Bonboni exploration well in Suriname. Both operations were recently completed on Block 58. Sapakara South-1 (SPS-1) flow test Flow and subsequent...
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Guyana’s customs agency announces regulatory procedures for shorebases

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The Guyana Revenue Authority (GRA) on Wednesday announced a slew of regulatory procedures meant to govern the establishment of shorebases servicing the country’s petroleum sector. In a public notice, GRA said that back on October 9, 2021, it had published...
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ExxonMobil cost-recovery audits will be done, locals must be involved, says Vice President

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Guyana's Vice President Dr. Bharrat Jagdeo said the Government is seeking to assemble a group of strong local auditors to collaborate with an international firm for the audit of ExxonMobil’s post-2017 costs. “We have made it clear what our intention...
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T&T inks massive gas deal with Shell; to produce as much as 700 mmscf per day

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Prime Minister of Trinidad and Tobago, Dr. Keith Rowley announced on Wednesday that a crucial agreement was signed between his administration, Shell Trinidad and Tobago Limited, and Shell Trinidad and Tobago Resources SRL (Shell) on the terms and conditions...
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Guyana’s local content spend hits US$350M in six months 

Guyana’s local business community continues to secure strong gains from the country’s oil and gas industry, with spending on...

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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