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SBM Offshore says Rio court orders Petrobras to withhold payments

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(Reuters) - Dutch marine engineering group SBM Offshore said on Thursday a Brazilian court had ordered Petrobras to provisionally withhold some payments to SBM to ensure the Dutch company pays whatever penalties it may receive in a corruption case. SBM...
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Potential for more oil discoveries in Guyana at all-time high – Industry Analyst

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Just over three years ago the South American country of Guyana was little known around the world and completely off the radar of petroleum-producing nations. But with the giant oil discovery at the Liza field in 2015 that has...
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Ramnarine urges caution in oil production forecasts

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Former Trinidad and Tobago Minister of Energy and Energy Affairs, Kevin Ramnarine, says predicting how oil reservoirs will behave is often difficult and this along with other factors can impact projected daily output. As such, he believes that it...
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SBM awarded contract for second Liza FPSO in Guyana

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SBM Offshore said Tuesday that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the Company contracts to perform Front End Engineering and Design (FEED) for a second Floating Production, Storage and Offloading vessel (FPSO) for the...
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ExxonMobil in US$10M collaboration with Conservation International, UG

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ExxonMobil Foundation said today that it will contribute US$10 million to a new collaboration with Conservation International and the University of Guyana to train Guyanese for sustainable job opportunities and to expand community-supported conservation. The investment is also intended to...
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Liza sub-sea contractor gets EPC job for Zinia development

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TechnipFMC has been awarded a contract by Total E&P Angola for the Zinia Phase 2 field development, located offshore Angola at a water depth between 800 and 1,000 meters. The contract covers the Engineering, Procurement and Construction of subsea equipment...
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Guyana legal team preparing for next submission at ICJ as court considers matter of jurisdiction

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The International Court of Justice (ICJ), as part of a formal process in the first stage of proceedings, will study the question of jurisdiction regarding the Guyana-Venezuela border controversy case currently engaging its attention. The oil-producing nation of Venezuela announced...
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Hess sells off interest in Utica shale to help fund Guyana, Bakken projects

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Hess Corporation (NYSE:HES)  announced on Friday that it has entered into an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash consideration of approximately $400 million, effective April 1. “We continue to focus our...
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Public consultation on Liza Phase 2 EIA to start soon in Guyana

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ExxonMobil has submitted its draft Environmental Impact Assessment for the Liza Phase 2 development project to the Environmental Protection Agency in Guyana and a series of public consultations on the document is expected get underway by mid-July. “There’s a 60-day...
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Suriname Staatsolie enters production sharing agreement with Carin Energy

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Staatsolie Maatschappij Suriname N.V. and its new partner UK-based Cairn Energy signed a production sharing contract for offshore Block 61 on June 26. Cairn Energy will search for oil in offshore Suriname. In a statement Staatsolie said Cairn will kick-off...
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Guyana launches Global Student Exchange with EU & UG on health, oil and gas, engineering sectors

The European Chamber of Commerce Guyana (ECCG), in partnership with the European Union and the University of Guyana (UG),...

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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