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Saipem extends contract with Aker BP for Scarabeo 8 rig until 2026

OilNOW -
Italian oilfield services company Saipem has secured an extension of its contract with Norwegian energy firm Aker BP for the semi-submersible rig Scarabeo 8. The extension will keep the rig working on the Norwegian Continental Shelf until the end...
News

ONE GUYANA FPSO completes final module lifts at Seatrium Yard

OilNOW -
SBM Offshore announced today that the ONE GUYANA floating, production storage and offloading vessel has completed its final module lifts at the Seatrium yard in Singapore.  This vessel, destined for ExxonMobil’s Yellowtail field in the Stabroek Block offshore Guyana, is...
Guyana's Oil Ledger

Guyana oil fund about to hit US$3 billion mark for the first time

Kemol King -
The balance of Guyana’s Natural Resource Fund (NRF) was US$2.94 billion at the close of August, with the government recently estimating it will close the year at US$3.15 billion. The administration has revised its projection of revenue from oil production...
News

Guyana seeking crude marketers

OilNOW -
Guyana needs marketers to maximize returns from the sales of its growing crude oil production. The government, through the Ministry of Natural Resources, has issued an invitation for bids for the provision of marketing services for its oil entitlement...
Exploration

Exxon conducting drilling operations at Redmouth

OilNOW -
ExxonMobil has commenced exploration drilling at the Redmouth-1A well in the Stabroek Block offshore Guyana. Previously, the company drilled the Redmouth-1 well in the second quarter of 2024.  The ‘A’ notation indicates that ExxonMobil has re-spud the well to relocate...
News

Procurement spending from contractors hits US$314 million with addition of Prosperity FPSO – Mid Year Report 

OilNOW -
According to Guyana’s 2024 mid-year report, procurement spending in the oil and gas sector totaled US$314 million. The report highlights growth in engineering and machining services, accommodation, equipment rental, and catering. The hike is largely attributed to the increased activity...
News

TotalEnergies Suriname development to drive subsea tree demand for remainder of 2024

OilNOW -
TotalEnergies’ Block 58 development offshore Suriname is set to play a key role in driving subsea tree demand for the remainder of 2024, according to Westwood Global Energy group.  The project will involve drilling around 30 wells over 2.5...
News

OSRL to expand in-country oil spill response capabilities in Guyana

OilNOW -
Oil Spill Response Limited (OSRL) is ramping up efforts to enhance oil spill response capabilities in Guyana, with plans to broaden its in-country services to meet the growing demands of the region’s oil and gas industry. While the capping stack,...
News

Adding gas-fired power to Guyana grid to cut emissions by 35% – Jagdeo

OilNOW -
Emissions associated with electricity generation are set to be slashed 35% with the addition of gas-fired power to Guyana’s grid, according to Vice President Bharrat Jagdeo. “The energy transition in Guyana is already taking place because if we move from...
News

UG Vice Chancellor advocates for early STEM education to build future workforce

OilNOW -
Professor Paloma Mohamed, Vice Chancellor of the University of Guyana (UG), emphasized the critical need to start science and technology education early to secure the future of Guyana’s workforce in the rapidly growing oil, gas, and related sectors. Speaking...
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OPITO takes lifting frameworks to new heights in the Caribbean

OPITO sets a new benchmark for lifting standards in the region, with dedicated training centers in Guyana, Suriname, and...

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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