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Guyana has moved from a handful of businesses to over 600 suppliers supporting offshore operations

OilNOW -
Guyanese businesses have been playing an increasing role in the offshore exploration and production activities with more services being provided directly from local suppliers now than what previously obtained following the 2015 Liza discovery. This is a direct result of...
News

Watch Dedication Ceremony for second Guyana-bound FPSO

OilNOW -
A Dedication Ceremony was held on Saturday, June 12, 2021, for the giant Liza Unity FPSO that will be developing around 600 million barrels of oil offshore Guyana as part of the Liza Phase 2 Development. https://www.youtube.com/watch?v=CZVUSNdOfKk  
News

First Lady Arya Ali is ‘Godmother’ of Guyana’s 2nd oil production vessel

OilNOW -
First Lady of Guyana, Arya Ali, officially dedicated the Liza Unity Floating Production Storage and Offloading (FPSO) vessel at a ceremony held at the Cara Lodge Hotel on Saturday, June 12, in the country’s capital, Georgetown. The vessel is...
Exploration

“We didn’t realise the significant potential of Stabroek Block” – says Shell VP exploration

OilNOW -
Oil and gas exploration is risky business. Prior to the 2015 Liza discovery, all available data pointed to a high probability of not finding any commercial hydrocarbons offshore Guyana. The level of uncertainty was so high that U.S. oil...
News

Oil prices rise as demand improves

OilNOW -
(Reuters) Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent was up 85 cents, or 1.2%,...
News

Guyana on its way to cashing in over half billion US dollars in oil revenue by year-end

OilNOW -
Guyana, now in its second year as an oil producing nation, could see revenues from royalties and the sale of its Liza Crude surpassing the US$500 million mark by the end of the year. The country has already exported a...
Exploration

Exxon moves to Whiptail as 15-well Guyana campaign ramps up

OilNOW -
Fresh off a new discovery announced just last week, U.S. oil major ExxonMobil is now moving to Whiptail, another prospect on the 6.6 million acres Stabroek Block where over 9 billion barrels of oil equivalent have been found since...
News

Guyanese company clears Bourbon Rhesos in one day, gearing up for other projects

OilNOW -
Guyanese company, Western Logistics, successfully cleared the Bourbon Rhesos in one day upon its arrival in the new oil producing South American country. Bourbon provides marine and logistics as well as subsea services to the global oil and gas...
News

Guyana local content policy will be enshrined in law, Bharrat affirms

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat has assured that by the end of this year the government will commence putting into legislation its Local Content Policy. OilNOW understands that following the extended month-long consultations in March, a team from...
News

Saipem, Daewoo contracted to build giant US$2.3 billion Brazil FPSO

OilNOW -
Italian multinational oilfield services company Saipem in joint venture with South Korea’s Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) has been awarded a contract by Petróleo Brasileiro (Petrobras) for the construction of the Floating Production Storage and Offloading...
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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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