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Privately-owned oil spill response centre set to open doors in Guyana

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GAICO Construction Inc. will next month open the first privately-owned Oil Spill Response Centre in Guyana, at its Georgetown Wharf. The Centre is currently in its final stages of completion and will, according to GAICO’s Chief Executive Officer, Komal Singh,...
News

Guyana will require fewer petroleum engineers per barrel of production than T&T

OilNOW -
The University of Guyana (UG) has added an Associate’s program in Petroleum Engineering and a Master’s Degree in Petroleum Engineering, in response to the country’s rapidly growing hydrocarbon industry. With expectations high among Guyanese, more so, potential students, for training...
News

Orinduik now looks like a ‘big pool of oil traps’ – Holzman

OilNOW -
CEO of Eco Atlantic Oil and Gas Gil Holzman says that with the rare back to back oil finds in the Jethro-1 and Joe-1 wells in the Orinduik Block offshore Guyana, he believes that this is a portent of...
News

EPA’s 36-person Petroleum Unit won’t be ready in time for first oil – Dr. Adams

OilNOW -
The World Bank is assisting the Environmental Protection Agency (EPA) in Guyana with the establishment of a Petroleum Unit to address oil and gas matters as first oil approaches in the South American country. However, EPA's Executive Director, Dr. Vincent...
News

U.S mission is to help Guyana remain on democratic path where oil revenues benefit all – Ambassador

OilNOW -
The United States in on a mission to help the South American country of Guyana remain on a democratic path where its newfound oil wealth will benefit all of its people. This commitment was reiterated on September 18 by U.S...
News

IMF urges implementation of EITI report recommendations to strengthen governance

OilNOW -
The International Monetary Fund is urging the Government of Guyana to implement the recommendations of the first Extractive Industries Transparency Initiative (EITI) report for Guyana, submitted by the Independent Administrator BDO LLC in April 2019. This is according to an...
News

Oil will account for 40 percent of Guyana’s GDP by 2024 – IMF

OilNOW -
The International Monetary Fund (IMF) has called Guyana’s medium-term prospects “very favourable” as the South American country prepares for oil production in early 2020. The Fund has projected that oil will account for around 40 percent of the country’s...
News

Rystad Energy says Joe discovery smaller than expected

OilNOW -
Norway-based Rystad Energy says the Joe discovery on the Orinduik block offshore Guyana, announced on Monday, is tens of millions of barrels less than anticipated. The Joe-1 exploration well was drilled to a final depth of 2175 meters and encountered...
Exploration

Joe discovery proves shallow low-cost plays exist in Guyana

OilNOW -
The discovery of 52 feet (16 meters) of continuous high quality oil-bearing thick sandstone at the Joe-1 exploration well offshore Guyana is being viewed as a significant development by the explorers on the block, particularly since it opens a...
News

Sembcorp Marine’s Brazilian shipyard delivers its first FPSO

OilNOW -
Sembcorp Marine’s subsidiary Estaleiro Jurong Aracruz (EJA) has crossed a significant operational milestone with the completion of its first floating production, storage and offloading (FPSO) project. P-68, a newbuild FPSO vessel, left the shipyard on Monday and will be deployed...
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ExxonMobil says Guyana operations funded from equity, not U.S. taxpayers’ dollars

ExxonMobil Guyana says no American taxpayer money is financing its operations in the South American country. President, Alistair Routledge,...

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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