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Volume of gas, cost of bringing it to shore would determine economic feasibility

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Without a comprehensive study being conducted to determine what the cost would be to bring natural gas to shore and the associated land based infrastructure required to facilitate this, any talk about its economic feasibility hinges on speculation. A well-placed...
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‘Significant’ discoveries made offshore Norway

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(Rigzone) OMV Norge AS announced Wednesday that it has encountered ‘exploration success’ at well 6506/11-10, located offshore Norway in license PL 644B. The well targeted two formations; the Cretaceous Hades prospect and the Jurassic Iris prospect located directly underneath. OMV...
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‘19 commercial discoveries in 2017’ – CNOOC Limited

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CNOOC Limited, the owner of Nexen which is a 25% joint venture partner in the Stabroek Block offshore Guyana along with ExxonMobil and HESS, recently announced that for 2017 its reserves and profit improved significantly. In announcing its performance for...
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‘Fisheries Exclusion Zone less than 1% of the Stabroek Block’ – ExxonMobil

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ExxonMobil is rejecting the assertion that its Liza Phase 1 operations will negatively impact in a significant manner Guyana’s fishing industry; a view posited by a number of vocal critics of the Government’s deal with the US oil major...
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Bringing gas to shore just to say we have a ‘nice project’ is not feasible – Trotman

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As discussions continue about the prospect of bringing natural gas to shore in the South American country of Guyana, authorities say such a move must be economically feasible and part of a transition to renewable energy, in keeping with...
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TOTALTEC successfully completes 2nd equity finance raising

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TOTALTEC Oilfield Services Limited on February 28, 2018 successfully completed its second equity finance raising from a large international investor. However the price has not been disclosed. TOTALTEC is a partner in a major onshore infrastructure development project in Guyana...
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ICJ ruling will settle border controversy once and for all – Guyana Foreign Minister

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Even as Venezuela continues to reject the notion of a “judicial settlement” over its decades-old claim to territory Guyana secured in an 1899 arbitral award, the lone English speaking country on the South American continent is adamant that a ruling...
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‘We will have a SWF long before first oil’ – Trotman

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Minister with responsibility for petroleum in Guyana, Raphael Trotman, has assured that the South American country will have a fully established and functional Sovereign Wealth Fund (SWF) "long before" oil production gets underway in 2020. Mr. Trotman’s remarks come in...
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Reports point to heightened security around energy assets in T&T amid terror concerns

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Warnings about Islamist group ISIS having a local cell in Trinidad and Tobago (TT) has prompted energy companies in the twin island republic to beef up security. London-based Argus Media reported on Monday that government, industry officials and diplomats told...
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Ram invited by gov’t to share views on Petroleum Commission Bill

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A number of individuals including Chartered Accountant and vocal critic in Guyana’s oil and gas sector, Christopher Ram, have been invited by Guyanese authorities to share their views on the Petroleum Commission Bill. This was disclosed by Minister of Natural...
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Exxon not backing out of Block S8 talks – Jagdeo 

ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block...

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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