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Saipem secures US$500 Million in offshore Saudi Arabia contracts from Aramco

OilNOW -
Saipem has secured two contracts from Aramco worth a total of US$500 million, the Italian company announced on Monday.  The first project involves the engineering, procurement, construction, and installation (EPCI) of a 42-inch crude trunkline, approximately 50 kilometers long, for...
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Eco (Atlantic) plans Guyana drill campaign for 2025

OilNOW -
Eco (Atlantic) Oil & Gas plans to drill one exploration well at the Orinduik Block offshore Guyana in the first half of 2025.  The company said in a July presentation that it is focused on multi-million barrel stacked pay targets...
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Future oil growth likely centered in Guyana-Suriname, GlobalData finds

OilNOW -
The oil and gas industry has long underpinned the global economy, with demand growing steadily except during the COVID-19 pandemic. New discoveries and massive oilfield reserves sustain global production, essential for meeting this demand. In May 2024, GlobalData conducted...
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EPA begins review process for Exxon’s Hammerhead project

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Guyana’s Environmental Protection Agency (EPA) has formally notified the public of ExxonMobil’s application for a seventh oil development at the Stabroek Block.  The regulator has determined that the proposed Hammerhead will require the compilation of an Environmental Impact Assessment (EIA)...
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Guyana government, Exxon at odds over issue of attorney ‘conflict of interest’ 

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Guyana’s Vice President Bharrat Jagdeo is maintaining that the newly elected Leader of political party, the Alliance for Change (AFC), has a conflict of interest due to his relationship with ExxonMobil, operator of the Stabroek Block. Nigel Hughes, the AFC...
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NOCs adapting to future energy demands – Rystad Energy 

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Schreiner Parker, Managing Director for Latin America at Rystad Energy, believes that the global oil and gas industry faces significant external pressure to adapt to future realities. Despite this, he asserts that oil and gas companies, including national oil...
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Guyanese seizing opportunities in the oil and gas sector: From firefighter to search and rescue rear crew

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The prolific oil and gas industry in Guyana has been a focal point of economic development, fueling numerous opportunities for locals to participate and thrive. One such success story is that of Kevin Sawh, a 25-year-old who recently graduated as...
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CIMC Raffles secures EPC contracts for Petrobras’ new FPSO hulls

OilNOW -
CIMC Raffles, a subsidiary of CIMC Group, has been awarded the engineering, procurement and construction (EPC) contract to supply the hulls for two new production vessels - P-84 and P-85 - by Seatrium.  These floating, production, storage and offloading vessels...
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China Merchants Heavy Industry building Fast4Ward hull for Suriname’s first offshore project 

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The Multipurpose Floater C (MPF C) Fast4Ward hull reserved by SBM Offshore for Suriname’s US$9 billion offshore development is being fabricated by China Merchants Heavy Industry (CMHI). TotalEnergies reserved the hull in June.  According to a July 12 Upstream Online...
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U.S. DOE seeks 4.5 million barrels for SPR amid rising crude prices

OilNOW -
The U.S. Department of Energy (DOE) has issued a solicitation to purchase 4.5 million barrels of crude oil for the Strategic Petroleum Reserve (SPR). However, the recent surge in crude prices may hinder this effort. US strategic petroleum reserves sink...
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OMS Subsea debuts operations in Guyana, bringing ROV and diving support to oil industry

OMS Subsea officially launched its operations in Guyana, introducing remotely operated vehicle (ROV) and diving support services to 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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