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Oil will impact Guyana in multiple ways: preparation to determine outcome

The main economic impact of the oil sector on Guyana is expected to take place through oil revenues, which offer an opportunity to expand public investment in both human and physical capital, lifting key constraints to inclusive growth. So...

Guyana signs US$20M loan agreement for capacity building in Oil and Gas

Guyana’s Minister of Finance, Winston Jordan on Thursday, April 11, participated in a signing ceremony with Ms. Tahseen Khan, World Bank Country Director for the Caribbean, on a loan agreement to build human resource capacity in the Oil and...

Exxon hits milestone at Stabroek Block as 1st pipe for Liza Phase 1 touches seabed

Installation for the Liza Phase 1 Development in Guyana reached a milestone on Friday as the Saipem FDS 2 vessel lowered the first pipe to the seabed in preparation for oil production just months away. In a comment to OilNOW...

Keppel delivers world’s first EU Stage V dredger

Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary, Keppel Singmarine Pte Ltd (Keppel Singmarine) has delivered the world's first European Union (EU) Stage V dredger on time, within budget and with a perfect safety record, strengthening...

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

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...

WinGD, ExxonMobil collaborate to advance adoption of smart shipping technology

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...

Magnitude of oil discoveries presents ‘historic opportunity’ for Guyana to boost growth – World Bank

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...

Wide-ranging services, supplies being sought for construction of ExxonMobil Guyana HQ

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...

Rystad ranks Tilapia among top 3 discoveries for Q1 2019

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...

TechnipFMC secures subsea contract for Lapa Pre-Salt Field in Brazil

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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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...