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Contracts confirmed for giant Prosperity FPSO, SBM Offshore looking to execute some fabrication work in Guyana

OilNOW -
Dutch floater specialist, SBM Offshore, announced Thursday that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Payara development project located in the...
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US$9 billion Payara Development is largest investment in Guyana’s history

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The US$9 billion Payara Development targeting an estimated resource base of around 600 million oil-equivalent barrels is the largest investment in Guyana’s history, and combined with Liza 1 and 2, will push the country’s production to more than half...
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Payara approval captures critical weather window for field development

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The Guyana Government’s approval of the 220,000 barrels per day Payara Development Project on Wednesday was a critical step in ensuring that a window of opportunity to get the project going without further delays, was met.      Neil Chapman, Senior Vice President of...
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Read the Payara Production License

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The Government of Guyana and ExxonMobil on Wednesday signed the license for the Payara field offshore development in Guyana. The Payara project approval was a result of several reviews and consultations by local and international experts…License Details
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Guyana approves ExxonMobil’s 220,000 bpd Payara Development, company moves to FID

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The Guyana Government on Wednesday announced the approval of the 220,000 bpd Payara Development - ExxonMobil’s third project offshore the South American country, paving the way for the company’s Final Investment Decision (FID). The $9 billion development, targeted for start-up...
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Preparing Guyanese women for opportunities in oil and gas a top priority for local NGO

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Guyanese Non-Governmental Organization (NGO), Women in Oil and Gas, is seeking to change age-old stereotypes about the way women are perceived as to their readiness and suitability for technical fields, including those in the petroleum sector. So says Dr. Dawn...
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Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

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Countries which lack the necessary skills and experience in the oil and gas industry run the risk of slowing down development of their petroleum resources if local content requirements are not realistic and lack flexibility. So says Angele Ramsaransing-Karg, Manager...
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Guyana oil revenue will more than double T&T’s and quadruple Suriname’s – Rystad Energy

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The South American country of Guyana is on course to receive the highest estimated total income from its multi-billion-barrel oil and gas resources when compared to both Suriname and Trinidad and Tobago (T&T), under various oil price scenarios. This...
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Less than 15 percent of Guyana’s discovered resources have been sanctioned

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With over 8 billion barrels of oil equivalent discovered to date and just two approved developments, Guyana still has significant hydrocarbon resources yet to be produced. Analysts have said developing these resources early would be prudent, since delays run...
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Majors exiting 203 country positions but remain in play at key locations like Guyana

OilNOW -
The largest oil and gas companies in the world, including US oil major ExxonMobil, are revising their long-term oil price and demand outlook, and looking to streamline their portfolios to improve cash flow, cost efficiency...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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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