Guyana’s Finance Minister, Winston Jordan, says the revenue to be earned from the first phase of oil production in the South American country – around US$300M annually – will go directly into the Natural Resources Fund and will eventually...
Tourism Stakeholders in Guyana believe that revenues from oil production could potentially advance the tourism sector, making the South American country one of the most talked about destinations in the world.
This was the highlight of a Tourism, Oil and...
The Hammerhead-1 well, where approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir was encountered by the Stena Carron drillship in August offshore Guyana is the ‘thickest single sand package’ drilled on the Stabroek Block, according to President...
The Stena Carron drillship which has been exploring for oil in the Stabroek Block offshore Guyana is scheduled to depart for Spain for drydocking.
Speaking on a 3rd quarter earnings call on Wednesday, Gregory P. Hill, President and Chief Operating...
Major oil and gas exporters have weathered many upheavals in recent decades but a renewed commitment to reform and economic diversification will be vital to cope with the changing dynamics of global energy. These include rising production from new...
CGX Energy Inc. announced on Wednesday that it has entered into an agreement with Japan Drilling Co., Ltd. along with its subsidiary CGX Resources Inc., to settle all liabilities claimed by JDC from the Company arising from a drilling...
ExxonMobil Guyana Liza Tier 1 contractor TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt.
This EPC contract covers the debottlenecking...
Rapid development and production offshore Guyana will see oil production at peak moving from 120,000 barrels of oil per day (bpd) from the Liza Phase 1 project in 2020 to a whopping 520,000 bpd after the Liza Phase 2...
Eco (Atlantic) Oil & Gas Ltd said on Wednesday that Guyana’s President, David Granger, has approved the transfer of the 25% working interest in the Orinduik Block, offshore Guyana from Eco Atlantic (Guyana) Inc., a wholly owned subsidiary of the...
In less that 24 months Guyana, located on the northern shoulder of South America, will begin producing oil from its vast offshore reserves discovered by US oil major ExxonMobil. The opportunity that oil wealth presents is clear, says the...
