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Brazil gov’t to pay Petrobras $9 billion in oil contract settlement

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Brazilian oil giant Petrobras will get $9.06 billion to settle a deep-water contract dispute with the government, ending years of negotiations and paving the way for Big Oil to access enormous crude deposits in the area, Bloomberg said in...
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WinGD, ExxonMobil collaborate to advance adoption of smart shipping technology

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WinGD and ExxonMobil have announced a new collaboration that will see WinGD’s Integrated Digital Expert (WiDE) predictive maintenance technology join forces with the Mobil Serv℠ Cylinder Condition Monitoring service. The agreement between two major marine industry leaders will provide...
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Magnitude of oil discoveries presents ‘historic opportunity’ for Guyana to boost growth – World Bank

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With approval of a US$20M loan from the World Bank to support a programme geared towards capacity building for Petroleum Resources Governance and Management, the South American country of Guyana is hoping to continue putting systems in place that could...
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Wide-ranging services, supplies being sought for construction of ExxonMobil Guyana HQ

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NABI/KCL Oilfield Construction Services Guyana, a joint venture of NABI Construction Inc., Guyana and Kee-Chanona Limited of Trinidad, are seeking wide-ranging services for the construction of ExxonMobil Guyana’s new headquarters at Ogle, East Bank Demerara. The joint venture company has...
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Rystad ranks Tilapia among top 3 discoveries for Q1 2019

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Norway-based Rystad Energy ranks the Tilapia discovery made by US oil major ExxonMobil off the Guyana coast in February as the third biggest conventional find for the first quarter of 2019. Cyprus’ Glaucus and South Africa’s Brulpadda were ranked...
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TechnipFMC secures subsea contract for Lapa Pre-Salt Field in Brazil

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UK-based TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a contract for the Lapa field by Total E&P do Brasil Ltda on behalf of the Lapa Field Consortium, comprised of Total (35%), Shell Brasil Petróleo Ltda. (30%), Repsol Sinopec Brasil...
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Pluspetrol farms into Suriname

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Buenos Aires-based Pluspetrol has taken further action to increase its holdings in Suriname. According to Suriname's state oil company Staatsolie, Tullow Oil has transferred a part of its interest in the production sharing contract (PSC) for offshore block 62 to...
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Venezuela pledges to honor oil commitments to Cuba despite sanctions

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(Reuters) - Venezuela will “fulfill its commitments” to Cuba despite United States sanctions targeting oil shipments from the South American country to its ideological ally, Foreign Minister Jorge Arreaza said on Monday. Washington on Friday imposed sanctions on 34 vessels...
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‘Total culture shift’ needed if Guyanese are to fully benefit from O&G – Dr. Bynoe

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Speaking to a capacity audience on Friday evening at the Revealed Word Christian Centre in Kitty, Georgetown, Director of Guyana’s Department of Energy (DE), Dr. Mark Bynoe told those gathered that winning a contract is not the only way...
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Stabroek 3D/4D survey expanded as Exxon set to begin baseline study at Kaieteur

OilNOW -
A 3D/4D seismic survey currently being conducted in the southeastern portion of the Stabroek Block has been expanded to include the Payara area. The survey, which covers an area of around 1,260 square kilometers, is expected to continue until...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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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