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Production license valid for 20 years with one-time renewal option

OilNOW -
ExxonMobil will have an initial 20-year period to produce petroleum under the license granted by Guyana for the Liza Phase 1 development project, with a single renewal period of up to 10 years thereafter. As part of the agreement, ExxonMobil,...
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Guyana President stresses transparency, accountability in meeting with ExxonMobil CEO

OilNOW -
Guyana’s President, Brigadier David Granger on Wednesday emphasized the importance of transparency and accountability in the oil and gas sector and reaffirmed the country’s commitment to doing things the “right way” in a meeting with CEO of ExxonMobil Corporation,...
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Open bidding for petroleum blocks will be determined by national interest – Trotman

OilNOW -
Guyana’s decision to retain a system of direct negotiations with companies or move towards a bidding system for the issuance of Exploration and Production (E&P) licenses will be determined by national interest. So says the country’s Minister of Natural Resources,...
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TechnipFMC awarded EPCI contract for Husky Energy West White Rose project

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TechnipFMC has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract from Husky Energy for the West White Rose Project in Eastern Canada. The contract covers the supply and installation of subsea equipment including tie-in manifolds, flexible flowlines, and...
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2D imaging shows potential 1.8 billion barrels of oil at Orinduik Block

OilNOW -
Eco (Atlantic) Oil & Gas had announced in June that the company along with its partner, Tullow Oil, was pursuing “significant reservoir leads” on the Orinduik Block offshore Guyana. OilNOW has since been able to confirm that these leads...
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Guyana will push for higher royalties, greater profits in future negotiations – Trotman

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Significant petroleum discoveries offshore Guyana by US super-major ExxonMobil has served to derisk the Guyana-Suriname basin, and in so doing, strengthen the South American country’s position for future negotiations. The country’s Minister of Natural Resources, Raphael Trotman, told OilNOW on Friday...
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Guyana looking to put National Oil Company on front burner next year

OilNOW -
The plan for establishing a National Oil Company in Guyana is advancing rapidly and according to the country’s Minister of Natural Resources, this will be a priority in 2018. Commenting on the state of planning for this significant step in...
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Eco nears completion of survey on Orinduik Block

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. says it is wrapping up a 2,550 km2 3D seismic survey on the 1,800km2 Orinduik Block offshore Guyana, together with its Operating Partner, Tullow Oil plc. The oil junior had announced the commencement of the survey...
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UNDP expert due back in Guyana Monday for local content talks – Trotman

OilNOW -
A UNDP expert advising the Guyana government on its draft local content policy framework is due back in the country on Monday and will embark on a series of consultations with stakeholders. Guyana’s Minister of Natural Resources, Raphael Trotman, said...
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Opposition Leader calls for release of ExxonMobil, other contracts

OilNOW -
Guyana’s Opposition Leader, Bharrat Jagdeo, is calling on the government to publicly disclose the contents of all contracts, including the agreement between the South American country and US super-major, ExxonMobil. At a press conference Friday at the Office of the Leader...
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Libra Consortium announces first oil at third FPSO in Brazil pre-salt

Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announced on Thursday the start of production of...

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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