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Double the capacity of the Liza Destiny FPSO, the Liza Unity – the vessel that will begin producing oil at Guyana’s second offshore development - is SBM Offshore’s first generic Multi-Purpose Floater (MPF1) hull in its series of hulls...

Oil production at Guyana’s first ever offshore development – Liza Phase 1 - is ramping up with daily output now around 75,000 barrels per day. “Liza Phase 1 production continues to ramp up. Current gross production is approximately 75,000 barrels...

Development cost for the 120,000 barrels per day Liza Phase 1 project offshore Guyana has been reduced by close to US$1 billion according to an official of Hess Corporation, a 30 percent co-venturer at the 6.6 million acres Stabroek...

Kosmos Energy (NYSE: KOS) (LSE: KOS) said Wednesday it has completed drilling the Oldfield exploration well (Kosmos 40%, Hess 60%) in the U.S. Gulf of Mexico. Oldfield was designed to test a sub-salt Miocene prospect located in Mississippi Canyon, targeting approximately 10 mmboe...

OPEC members are considering deeper production cuts, or extending their existing deal, in response to a slump in prices caused by the outbreak of coronavirus in China, according to a source in the group, S&P Global said in a...

Less than 5 years ago Guyana was listed as having no known oil resources. Now, with more than 8 billion oil-equivalent barrels estimated to be lying at the Stabroek Block, the country has surpassed Mexico, Norway and 77 other...

The Nicolas Maduro regime has proposed giving majority shares and control of its oil industry to international corporations after decades of state control. According to an article published by Bloomberg on Monday, Maduro’s representatives have reportedly held talks with Russia’s...

Guyana’s MatPal Maritime Institute (MPMI) will be hosting a Career Forum to inform the public of training and employment opportunities within the oil and gas and maritime industry. The forum will take place on Wednesday, January 29, 2020 at the Critchlow Labour College Auditorium in Georgetown. Following welcome and opening...

Hess Corporation on Tuesday announced a $3 billion Exploration and Production capital and exploratory budget, of which more than 80% will be allocated to high return investments including Guyana. In a press release, Hess said that the $3 billion budget...

The new year began in Guyana with the first oil lift followed by ExxonMobil’s 16th discovery and the addition of more than 2 billion barrels of recoverable oil resource at the 6.6 million acres Stabroek Block. All this good news come...