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Guyana’s oil deal and government share

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Guyana’s first and major oil deal, with ExxonMobil, produces results for the government which are outlier low, a financial model reveals. Over the life of the project the government should expect to see from 52% to 54% of profits,...
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PSC wants clear framework for development of O&G sector

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Guyana’s Private Sector Commission (PSC) is pushing for the country’s government to outline a clear framework for the development of the emerging oil and gas sector. PSC presented its Action Plan for the Sustainable Development of Guyana to Minister of...
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MNR pushing for development of spatial data management system

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Guyana’s Ministry of Natural Resources (MNR) will be moving to establish an information portal on the development of natural resources in the South American country the Department of Public Information (DPI) stated in a report. Natural Resources Minister, Raphael Trotman...
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Exxon sparks IMF concern with weighty returns in tiny Guyana

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(Bloomberg) Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play that the tiny South American country should rewrite its tax laws, the International Monetary Fund said. While Guyana should honor the existing deal, future...
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Noble Bob Douglas drilling at Sorubim before moving to develop Liza wells

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The Noble Bob Douglas – ExxonMobil Guyana’s second drillship – recently arrived in the South American country and is currently drilling its first exploration well at the Sorubim field some 83 nautical miles offshore. “We brought our second drillship into...
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Tina VLCC in dry-dock for 60 days as work on Liza Destiny FPSO continues

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The Bahamas-flagged Tina Very Large Crude Carrier (VLCC) – the vessel being converted to the Liza Destiny FPSO – has successfully dry-docked for the first time at Keppel’s shipyard in Singapore. ExxonMobil Guyana says the vessel is expected to be...
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ExxonMobil ‘passionate’ about gas to shore project but no final decision yet – Brasington

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The prospect of bringing natural gas to shore in Guyana for the primary purpose of fueling power plants to produce low-cost electricity remains a project ExxonMobil is passionate about but the company says no final decision has yet been...
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T&T fishermen captured by Venezuelan authorities

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Trinidad and Tobago’s Ministry of National Security has confirmed that Venezuelan authorities trespassed into the country’s waters and seized three local fishermen, allegedly for illegally fishing in Venezuelan waters. Loop reports that in a statement issued Friday, the Ministry said the incident, which...
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ExxonMobil says it engaged fisher-folk, environmentalists to determine safe zone around FPSO

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ExxonMobil Guyana says discussions were held with fisher-folk and environmentalists to determine the appropriate safe zone to be established around the FPSO that will be producing oil from the Liza field in 2020. The company’s Senior Director, Public & Government Affairs, Kimberly...
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Venezuela as party to Geneva Agreement accepted jurisdiction of ICJ

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The position of the Nicolás Maduro administration that Venezuela does not recognize the International Court of Justice’s (ICJ) jurisdiction over its border controversy with Guyana is in contravention with the Bolivarian Republic’s consent to the Geneva Agreement. Guyana, in its Application...
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ExxonMobil taps MODEC for second Guyana FPSO as Hammerhead project advances

ExxonMobil has awarded a limited notice to proceed to Japanese offshore engineering firm MODEC for the development of a...

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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