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Tullow secures US$2.5B debt refinancing

OilNOW -
Tullow Oil announced on Wednesday that it has completed the refinancing of US$2.5 billion of Reserves Based Lending (RBL) credit facilities. The US$2.5 billion of credit facilities are split between a commercial bank facility of US$2.4 billion and an IFC...
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CNOOC starts oil production at Weizhou oil field

OilNOW -
CNOOC Ltd. (NYSE: CEO) has already commenced production for its Weizhou 12-2 oil field phase II project, the company said on Tuesday. The Weizhou 12-2 oil field phase II project is located in Beibu Gulf in the South China Sea...
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Hess wraps up sale of interests in Equatorial Guinea

OilNOW -
Hess Corporation said Tuesday it has completed the previously announced sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650 million, effective January 1, 2017. “Our 2017 asset monetizations have exceeded expectations in terms of value and...
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ExxonMobil begins oil production at Hebron Field

OilNOW -
Exxon Mobil Corporation (NYSE:XOM) today announced that the Hebron project started production safely and ahead of schedule. At its peak, the project will produce up to 150,000 barrels of oil per day. Discovered in 1980, the Hebron field is estimated to...
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Norway’s Statoil to establish onshore integrated operations centre

OilNOW -
Statoil will in 2018 establish a new onshore integrated operations centre (IOC) that will help increase safety, add value and reduce emissions from our installations on the Norwegian continental shelf (NCS). An integrated operations centre (IOC) is an important step...
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High expectations of jobs created riots in African territories – Anthony Paul

OilNOW -
Author of Guyana’s draft local content policy framework, Anthony Paul, is warning that expectations of large-scale job creation in the South American country’s emerging oil and gas sector could lead to serious challenges down the road. Mr. Paul, a UNDP...
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Guyana plans to revise PSA model to ensure nation gets fair share of resource wealth – Finance Minister

OilNOW -
The Guyana Government has announced a revision of the way it conducts business with Oil and Gas Exploration Companies, through its use of Production Sharing Agreements (PSA). The announcement was made on Monday as Minister of Finance, Winston Jordan, presented...
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Oil & gas to lead Guyana foreign investments in 2018

OilNOW -
Still in its infancy, Guyana’s Oil and Gas Industry is poised to lead Foreign Direct Investment (FDI) in the South American country come next year - a projection made by Finance Minister Winston Jordan, when he today presented the...
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Gov’t minister supports signing bonus, advance borrowing

OilNOW -
While not confirming whether or not a signature bonus was paid to the Guyana government when a new Production Sharing Agreement (PSA) was signed in 2016 with US oil major ExxonMobil, Minister of Public Security, Khemraj Ramjattan, says he would...
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Using supply base in Guyana would be ExxonMobil’s first preference – CLDB head

OilNOW -
ExxonMobil, its contractors and sub-contractors would be looking as a first preference, to have materials and services needed for exploration and production activities sourced from a supply base in Guyana since this is a more economical option. Project Director at...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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