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Finance minister urges GUYOIL to prepare for O&G opportunities

OilNOW -
Guyana’s finance minister Winston Jordan has urged the Guyana Oil Company (GUYOIL) to prepare itself to capitalize on opportunities in the South American country's burgeoning oil and gas sector as preparations ramp up for oil production commencing in early...
Opinions

Depletion policy and licencing arrangements for Guyana’s oil reserves

Bobby Gossai, Jr. -
The rate at which Guyana’s Offshore Basin oil reserves will be depleted will clearly be influenced by the licencing arrangements. The basic decisions regarding the frequency and size of licence rounds, the location of blocks on offer, and the...
Exploration

Guyana embarking on countrywide ‘Needs Assessment Survey’ to build oil & gas capacity

OilNOW -
Guyana's Department of Public Service is preparing to embark on a countrywide needs assessment survey, with special focus on the country's emerging oil and gas sector. Minister with responsibility for the South American nation's Public Service, Tabitha Sarabo-Halley, says this...
Exploration

India looking to pursue O&G agreement with Guyana

OilNOW -
With commercial oil and gas exploration commencing in the first quarter of 2020 in Guyana, India has interest in entering into a commercial agreement with the South American country. This is according to the newly accredited Indian High Commissioner to...
News

SBM Offshore signs long-term deal with ExxonMobil for FPSO orders

OilNOW -
Dutch floater specialist SBM Offshore and ExxonMobil have signed a Long-Term Agreement covering potential future FPSO orders. SBM last week delivered the first FPSO – Liza Destiny – for ExxonMobil’s Liza Phase 1 Development project offshore the South American country...
News

Hess will plug 75% of CAPEX in Guyana, Bakken over next 5 years

OilNOW -
The Stabroek Block offshore Guyana is being praised as a transformational investment opportunity for Hess Corporation. The company’s 30 percent stake in the prolific 6.6 million acres block is helping to put it well on its way to increasing...
News

Exxon agrees $4 billion sale of Norway oil and gas assets

OilNOW -
(Reuters) - Exxon Mobil has agreed to sell its Norwegian oil and gas assets for up to $4 billion, ending its production in a country where it started operations more than a century ago, three sources familiar with the...
News

CDC looking to test oil spill response plan at upcoming Exercise Tradewinds

OilNOW -
Guyana is preparing to host Exercise Tradewinds in June 2020 and Director General of the Civil Defence Commission (CDC) Lieutenant Colonel Kester Craig wants the operation to feature an oil spill response component. Currently, the CDC is finalizing Guyana's first...
Exploration

Oil contracts signed after Exxon PSA will be reviewed – Guyana Opposition Leader

OilNOW -
Should the opposition People’s Progressive Party Civic (PPP/C) win the upcoming elections in Guyana, efforts will be made to review contracts signed after the ExxonMobil Production Sharing Agreement (PSA) in order to extract more revenue for the South American...
Exploration

Fastest production ramp-up ever undertaken on track for first oil

OilNOW -
Plans are moving along rapidly in South America’s newest oil and gas hotspot for the start of oil production, now just months away. The arrival of the Liza Destiny FPSO in Guyana was announced on August 29, paving the...
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Latest News

NewsShikema Dey -

More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

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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