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Giant Yellowtail FPSO will produce up to 7.5 million barrels of oil per month during early stage of operations

OilNOW -
The offshore developments in Guyana are growing both in number and capacity, with the fourth proposed project at Yellowtail being designed to utilize a giant floating production storage and offloading (FPSO) vessel capable of holding 2 million barrels of...
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Fabrication of topsides for Guyana’s 3rd oil production vessel underway in Singapore

OilNOW -
Work on Guyana’s 3rd oil production vessel is progressing on schedule in Singapore, SBM Offshore said in its Q1 trading update on Wednesday. The Dutch floater specialist has been forging ahead with major construction projects despite challenges from the...
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Proposed, sanctioned offshore developments to deliver over 800,000 bpd by 2025

OilNOW -
Guyana has gone from having no known oil resources just 6 years ago to now holding over 9 billion barrels of oil equivalent. The small South American country is now well on its way to becoming one of Latin...
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Mærsk Developer to drill additional appraisal well for Total in Suriname

OilNOW -
Total E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional appraisal well in Suriname’s Block 58 to the work scope of the semi-submersible rig Mærsk Developer. Mærsk Drilling said Wednesday the contract extension has...
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Oil climbs on solid demand outlook

OilNOW -
(Reuters) Oil prices rose on Wednesday after a drop in U.S. crude inventories reinforced OPEC's robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or...
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Yellowtail will be Guyana’s biggest offshore development to date with massive 250,000 bpd output – Project Summary

OilNOW -
The Yellowtail development, Guyana’s fourth deepwater petroleum production project, is targeting 250,000 barrels of oil per day, the largest volumes yet for a single development offshore the South American country. According to documents submitted to the Environmental Protection Agency by...
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The top three challenges of being the most appealing fossil fuel opportunity in the world

OilNOW -
By Arthur Deakin – OilNOW It is no longer a secret that Guyana is one of the most attractive investment opportunities in the world. The country has discovered 9 billion barrels of recoverable oil, and that is likely only half...
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Singapore shipbuilder capturing big contracts for South America floaters

OilNOW -
Keppel Offshore & Marine has secured yet another contract for a South America-bound floater. The company announced on Monday that it was hired for the turnkey delivery of P-78, one of the largest Floating Production, Storage and Offloading (FPSO)...
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Supplying Guyana domestic market will help tackle growing gas-to-oil ratio offshore

OilNOW -
As an increasing number of developments come on stream offshore Guyana, large amounts of associated gas will be produced alongside high volumes of oil. Following the already producing Liza phase 1 project is phase 2, targeting 220,000 barrels of oil...
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India wants oil from ‘stable geographies’ such as Guyana, Brazil and Norway

OilNOW -
Indian Oil Corporation (IOC) remains keenly interested in sourcing crude from “geopolitically relatively stable geographies” such as Norway, Brazil and Guyana, as it embarks on a strategic growth path that will aim to maintain focus on its core refining...
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Kuwait, Qatar, other long-established producers now trail Guyana in per capita oil output

Countries with some of the world’s most mature petroleum industries now rank behind Guyana in per capita oil production,...

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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