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TechnipFMC awarded extension on EPCI contract with Statoil

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TechnipFMC has been awarded an extension to its ongoing Engineering, Procurement and Construction (EPC) contract from Statoil in the Norwegian North Sea. The ongoing EPC project covers the provision of subsea equipment including template structure, manifold and two subsea trees...
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Qatar Petroleum and Shell enter LNG marine fueling venture

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Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments B.V. (Shell) on Tuesday signed a framework agreement to develop liquefied natural gas (LNG) marine fueling – or bunkering – infrastructure at strategic shipping locations across the globe. LNG...
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Guyanese businesses willing to “buddy” with Trinidad for oil & gas opportunities

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The business community in Guyana was abuzz over the last two days as a 25-member trade delegation from neighbouring Trinidad & Tobago flocked to the country. The Trinidadians have been showing a keen interest in getting involved in Guyana’s...
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Production-Sharing Agreements (Pt. 2): Ownership & mineral development rights

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(Part 2) Excerpt from an analysis done by Kristen Bindemann, Oxford Institute of Energy Studies There are two methods of contracting: bilateral negotiation and competitive bidding. When a contract is negotiated bilaterally, the firm, usually a multinational (such as ExxonMobil),...
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ExxonMobil gunning for pay sands at Payara-2 well

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Following on the success of the Liza, Payara and Snoek wells offshore Guyana, US super-major ExxonMobil and its partners Hess and CNOOC Nexen will soon commence a new drilling campaign hoping to further solidify its previous discoveries. On June 20, ExxonMobil...
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Review uncovers multiple shortcomings in Guyana’s draft local content framework

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A review of Guyana’s draft local content policy framework by members of the business community has identified several shortcomings which it believes put Guyanese business operators at a disadvantage. The review, done by the Georgetown Chamber of Commerce and...
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Badly needed refinery upgrades in Nigeria could cost $1.2B

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Nigeria may need to spend as much $1.2B in refinery upgrades in order to reduce its dependence on the imports of refined oil products. Although the country produces 2 million barrels of oil per day, it is still forced...
News

TechnipFMC wins 3 yr contract for well intervention in Australia

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TechnipFMC has entered into a three-year agreement with Woodside Energy in Australia for Riserless Light Well Intervention (RLWI) and subsea services, including intervention, installation, and plug and abandonment services. According to a World Oil report, under the agreement, TechnipFMC will...
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ExxonMobil accuses NY AG of “reckless and false Allegations” on climate policies

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ExxonMobil
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Trotman tells Ocean Conference Guyana putting safeguards in place for oil

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Guyana’s Minister of Natural Resources Raphael Trotman on Wednesday told the United Nations Ocean Conference in New York that as Guyana prepares for offshore oil production in 2020, the country is mindful of the risks to the ocean from...
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Steam turbines, oil tanks in Guyana for Gas-to-Energy project

US-based group Lindsayca-CH4 said two state-of-the-art steam turbines and two oil tanks arrived in Guyana on December 21, 2024.  The...

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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