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Guyana moves forward with second power plant, RFP now open for submissions

OilNOW -
The Government of Guyana (GoG) has invited qualified firms to submit proposals for the design, financing, and operation of Phase II of the Gas-to-Energy (GTE) project. The project will be governed by a 20-to-25-year Power Purchase Agreement (PPA), according...
News

GYSBI expands scholarship programme amid Gas-to-Energy project commitment

OilNOW -
The Guyana Shore Base Inc. (GYSBI) has awarded technical scholarships to eleven outstanding students as part of its commitment to community development as it undertakes critical work on the Gas-to-Energy project at Wales, West Bank Demerara. GYSBI in a release...
News

TechnipFMC secures subsea contracts from Petrobras for Brazil’s pre-salt fields

OilNOW -
TechnipFMC has been awarded two significant subsea contracts by Petrobras to support Brazil’s pre-salt offshore fields. The first contract, valued between US$250 million and US$500 million, involves the design, engineering, and manufacturing of riser flexible pipe. It also includes associated...
News

Guyana stands out globally; will maintain cost competitiveness despite expected drop in future oil prices – Norway firm

OilNOW -
South America's newest oil producer, Guyana, continues to stand out as a highly competitive destination for deepwater projects around the world. U.S. oil major ExxonMobil is currently spending around 20% of its total exploration and production (E&P) investments in...
News

Saipem extends contract with Aker BP for Scarabeo 8 rig until 2026

OilNOW -
Italian oilfield services company Saipem has secured an extension of its contract with Norwegian energy firm Aker BP for the semi-submersible rig Scarabeo 8. The extension will keep the rig working on the Norwegian Continental Shelf until the end...
News

ONE GUYANA FPSO completes final module lifts at Seatrium Yard

OilNOW -
SBM Offshore announced today that the ONE GUYANA floating, production storage and offloading vessel has completed its final module lifts at the Seatrium yard in Singapore.  This vessel, destined for ExxonMobil’s Yellowtail field in the Stabroek Block offshore Guyana, is...
Guyana's Oil Ledger

Guyana oil fund about to hit US$3 billion mark for the first time

Kemol King -
The balance of Guyana’s Natural Resource Fund (NRF) was US$2.94 billion at the close of August, with the government recently estimating it will close the year at US$3.15 billion. The administration has revised its projection of revenue from oil production...
News

Guyana seeking crude marketers

OilNOW -
Guyana needs marketers to maximize returns from the sales of its growing crude oil production. The government, through the Ministry of Natural Resources, has issued an invitation for bids for the provision of marketing services for its oil entitlement...
Exploration

Exxon conducting drilling operations at Redmouth

OilNOW -
ExxonMobil has commenced exploration drilling at the Redmouth-1A well in the Stabroek Block offshore Guyana. Previously, the company drilled the Redmouth-1 well in the second quarter of 2024.  The ‘A’ notation indicates that ExxonMobil has re-spud the well to relocate...
News

Procurement spending from contractors hits US$314 million with addition of Prosperity FPSO – Mid Year Report 

OilNOW -
According to Guyana’s 2024 mid-year report, procurement spending in the oil and gas sector totaled US$314 million. The report highlights growth in engineering and machining services, accommodation, equipment rental, and catering. The hike is largely attributed to the increased activity...
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Letter-to-the-Editor: Guyana’s oil and gas sector is experiencing responsible growth

Dear Editor, I am constantly engaged with reports across a range of industries—none more prominent in recent years than 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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