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Brazil oil regulator announces details on October deepwater oil auction

OilNOW -
(Reuters) Brazil's oil regulator ANP on Monday announced details of the 16th-round auction of oil areas under the concession regime, stipulating a higher bonus amount for the CM-541 block in the Campos Basin, which surpasses 1 billion reais ($259...
News

Trinidad & Tobago’s ‘imposition of 12.5% royalty’ could backfire – GlobalData

OilNOW -
Trinidad and Tobago is looking to attract exploration investment with a new offshore bid round. However, the introduction of a royalty imposed on investors may be counter-productive for the government in the longer term, according to GlobalData, a leading data...
News

Multiple campaigns underway at Stabroek Block

OilNOW -
Marine traffic is set to increase in the coming weeks at the Stabroek Block offshore Guyana as exploration and development activities ramp-up and installation operations for the Liza Phase 1 Development project gets underway. ExxonMobil affiliate Esso Exploration and Production...
News

Russia is sending troops and military equipment to Venezuela

OilNOW -
(Vice News) A pair of Russian military planes landed in the Venezuelan capital of Caracas Saturday, carrying troops and military equipment. An official in Caracas said Monday that members of Russia’s military were in Venezuela for talks about training and...
News

EPA grants ExxonMobil permit for Yellowtail exploration; Liza Phase 2 to follow

OilNOW -
Guyana’s Environmental Protection Agency (EPA) on Monday confirmed that an Environmental Permit has been granted to ExxonMobil Guyana for exploration drilling at the Yellowtail-1 well located in the Stabroek Block offshore the South American country.  A permit for the...
News

TechnipFMC snags EPCI contract for Eni’s Merakes project

OilNOW -
TechnipFMC has been awarded a large integrated Engineering, Procurement, Construction, Transportation and Installation (iEPCI™) contract by Eni for the Merakes project, located offshore Balikpapan Indonesia, at a water depth of approximately 1,500 meters. This contract covers five deepwater wells, and...
Opinions

Considerations for delivering a successful extractives-Led growth agenda for Guyana

Bobby Gossai, Jr. -
In terms of practical policy and economic advice, the extractives-led growth agenda has tended to reinforce domestic, government and investor pressures to ‘develop fast’. At the same time, it will reinforce the emergence of several initiatives to enhance transparency,...
News

Trump dangles investment to Caribbean leaders who back Venezuela’s Guaido

OilNOW -
(Reuters) - U.S. President Donald Trump pledged investment in a rare meeting on Friday with five Caribbean leaders who have sided with the United States in backing Venezuelan opposition leader Juan Guaido as head of state, the White House...
News

Saipem wins Spotlight on New Technology award for oil spill response

OilNOW -
Italian-based oil and gas contractor Saipem has won the Spotlight on New Technology award by OTC - Offshore Technology Conference, one of the most important international oil & gas industry events. OTC will be held from May 6-9 and as...
News

Outside of China CNOOC only found oil in Guyana during 2018

OilNOW -
China’s CNOOC Limited made a total of 17 commercial discoveries in 2018, 5 of which were made in the Stabroek Block offshore Guyana which represents all of the company’s overseas discoveries for that year. The other 12 discoveries were...
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GranMorgu FPSO construction hits 27% as Suriname targets first oil by 2028

Construction of the floating production, storage and offloading (FPSO) platform for Suriname’s GranMorgu project has reached 27%, state oil...

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