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Year in review: 2017’s Top 10 discoveries

OilNOW -
(Offshore Engineer) While exploration hasn’t been as hot as it used to be, the finds this year have been big and plentiful. Wood Mackenzie has provided the year’s 10 biggest finds by volume. #1 – Yakaar, Senegal In May this year,...
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Turmoil between gov’t, opposition bad omen for coming of oil – Private Sector Executive

OilNOW -
Executive member of Guyana’s Private Sector Commission (PSC), Ramesh Dookhoo, is urging the Guyana government and the lone opposition party - People’s Progressive Party Civic (PPP/C), to redouble their efforts at working together for the betterment of the South...
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Repsol, VNG present $2.2B Norwegian oil, gas plans

OilNOW -
(Hart Energy) Spain’s Repsol and Germany’s VNG presented separate plans on Dec. 19 to develop two Norwegian oil and gas fields for a combined 18.2 billion Norwegian crowns (US$2.17 billion), Norway’s Ministry of Petroleum and Energy said. VNG’s Fenja oil...
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Eni cranks up production at mega Zohr field offshore Egypt

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(Hart Energy) Eni SpA has confirmed the start of production from the supergiant Zohr Field, which puts Egypt on course to become an energy exporter with the field’s more than 30 trillion cubic feet of potential gas in place. Startup...
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SBM Offshore completes US$720M Liza Destiny financing

OilNOW -
SBM Offshore said on Wednesday that on December 19, 2017 it completed the project financing of FPSO Liza Destiny for a total of US$720M. The project financing was secured by a consortium of twelve international banks. The Company expects to draw the...
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Guyana to establish petroleum cost recovery sub-committee

OilNOW -
As preparation ramps up for oil production in 2020, the Government of Guyana is to establish a cost-recovery sub-committee, according to information reaching OilNOW. While details remain sketchy, it is believed that this sub-committee will be resident within the...
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Liza Destiny builder Keppel secures $130M in projects

OilNOW -
Keppel Offshore & Marine (Keppel O&M) has bagged projects from repeat customers Petrobras and SOFEC Inc. (SOFEC) with a total value of $130M. According to a press release, the projects were bagged by its two wholly-owned subsidiaries Keppel FELS Brasil...
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Oil workers sue Shell over Gulf of Mexico platform fire

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(Reuters) Three offshore oil workers filed a lawsuit against units of Royal Dutch Shell and Enbridge, seeking $1 million in damages for injuries they allegedly received during a Nov. 8 fire on a U.S. Gulf of Mexico production platform. The...
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Japan’s MODEC to supply FPSO for Libra consortium in Brazil

OilNOW -
Japan’s MODEC, Inc. said on Tuesday it has signed a contract for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel with Petróleo Brasileiro S.A. (Petrobras) as Leader and Operator of the Libra Consortium on...
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CGX renegotiates work programme for oil blocks in Guyana

OilNOW -
CGX Energy Inc. said Monday it has successfully renegotiated its work commitments for the Demerara, Corentyne and Berbice Petroleum Prospecting Licenses with the Government of Guyana. As part of the renegotiation, the Company has also agreed to relinquish 25% of...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part 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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