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TGS launches survey to evaluate Brazil’s offshore Pará-Maranhão basin potential

OilNOW -
TGS, a leading provider of energy data and intelligence, has initiated the PAMA 3D Phase 1 Survey in Brazil's Equatorial Margin, covering 19,343 square kilometers and more than 25 future exploration blocks in the Pará-Maranhão Basin. This basin is...
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Just nine years after first discovery Guyana has seven projects in play with three already producing

OilNOW -
Guyana will be producing oil for decades to come. A series of deepwater development projects being executed by U.S. oil major ExxonMobil is rapidly transforming the South American country, catapulting it from a non-producer less than five years ago,...
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Guyana received US$268 million in oil sales, royalties in July 

OilNOW -
Guyana’s Natural Resource Fund (NRF) received more than US$268 million in July from oil sales and royalties. The Fund received US$101.1 million (GY$21.1 billion) in royalties for crude oil produced and sold in the second quarter. Guyana has received three...
News

TotalEnergies to begin development drilling in 2026 for Suriname’s first deepwater project

Shikema Dey -
TotalEnergies expects to start drilling wells for Suriname’s Block 58 development by the first quarter of 2026, according to the environmental and social impact assessment (ESIA) submitted to the National Institute for Environment and Development in Suriname (NIMOS).  ...
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Guyana to take 35% of TechnipFMC’s subsea tree supply through 2029 – Rystad Energy

OilNOW -
TechnipFMC is expected to supply 400 subsea trees in the period 2024-2029, with 35% for ExxonMobil’s developments in Guyana. Highlighting this in an August 12 release, Rystad Energy indicated that Guyana and Brazil will account for 57% of the supply...
News

Hess has until July 2025 to secure new partner for Suriname’s Block 59

Shikema Dey -
Hess Corporation is on the hunt for a new partner in Suriname’s Block 59 and has until July next year to secure one, according to the timeline set by state oil firm Staatsolie.  “Attracting a partner must be seen against...
News

SLB’s new technology boosts drilling efficiency in Guyana by 65%

OilNOW -
SLB has successfully increased the Rate of Penetration (ROP) by 65% in ExxonMobil's “most complex offshore Guyana trajectory”, saving 34 hours of drilling time. The achievement was made possible through the combination of the AccuStrike bit and the PowerDrive...
News

Companies gearing up to sign Guyana’s new PSA with 10% royalty and corporate tax regime 

OilNOW -
Guyana has finalized its new model Production Sharing Agreement (PSA) with no changes to the fiscal terms introduced on March 14 during the country’s first oil blocks licensing round. The new PSA, which mandates a 10% royalty rate and...
News

United States, Guyana, Canada and Brazil accounting for three-quarters of non-OPEC+ supply gains

OilNOW -
The International Energy Agency (IEA) says despite the marked slowdown in Chinese oil demand growth, OPEC+ has yet to call time on its plan to gradually unwind voluntary production cuts starting in the fourth quarter of this year. However,...
Guyana's Oil Ledger

Guyana on course to boost oil money spending by almost half in 2025

Kemol King -
The Guyana government is on course to withdraw US$2.3 billion in oil revenue from its Natural Resource Fund (NRF) in 2025 to support that year’s budget. This would represent a 46% increase from the almost US$1.6 billion amount approved...
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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...

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