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Norway subsea firm enters agreement with Suriname oil & gas regulator

OilNOW -
Norway-based subsea service provider, Argeo, has entered into an eight-year agreement for acquisition, processing and sales of multi-client data in Suriname with state oil firm, Staatsolie. The execution of the agreement will be performed in several phases over the contract...
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Guyana to jostle with OPEC, other players for more market share in 2025 – S&P

OilNOW -
Guyana is expected to compete with some of the world's largest crude oil suppliers, including from the Organization of Petroleum Exporting Countries (OPEC), for more market share next year as they all move to boost output. Benjamin Tang, head of...
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Guyana oil boom and the explosion of real estate

Alana Nadir -
Like the economy’s developmental trajectory, the Real Estate sector in Guyana has outpaced expectations since the discovery of oil & gas resources in 2015. This momentous find led to a rise in Real Estate prices due to the influx...
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SBM Offshore welcomes Almirante Tamandaré: Brazil’s Largest FPSO

OilNOW -
SBM Offshore has officially welcomed the FPSO Almirante Tamandaré into its fleet.  This vessel is now the largest floating production storage and offloading unit operating in Brazilian waters, SBM Offshore announced via LinkedIn.  Guyana, Brazil lead FPSO market growth, investment rises...
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Baker Hughes secures major contracts with Petrobras for flexible pipe systems in Brazil

OilNOW -
Baker Hughes has been awarded significant contracts by Petrobras to supply 77 kilometers of flexible pipe systems for Brazil’s pre-salt fields. The agreements, signed on October 15, 2024, followed an open tender and cover risers, flowlines, and services across...
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SBM Offshore’s community initiatives in Guyana promote sustainability, local economies

OilNOW -
SBM Offshore’s role in Guyana goes beyond oil production, as its community engagement projects aim to create long-lasting impacts on local economies. While known for its floating production storage and offloading units and offshore capabilities, the Dutch shipbuilder is...
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ExxonMobil sees 60% year-on-year production boost in Guyana

OilNOW -
ExxonMobil’s Chief Financial Officer, Kathy Mikells reported a 60% year-on-year increase in crude oil production offshore Guyana, during the third-quarter earnings call.  This growth contributed to an overall production rate across the company, of 4.6 million oil-equivalent barrels per day—its...
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Libra Consortium announces first oil at third FPSO in Brazil pre-salt

OilNOW -
Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announced on Thursday the start of production of the floating production storage and offloading facility (FPSO) Marechal Duque de Caxias in the Mero field, in the pre-salt area...
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Noble Don Taylor continues drilling at Whiptail well site 

OilNOW -
The Noble Don Taylor is continuing developmental drilling at the Whiptail well site at Guyana’s Stabroek Block. Drilling operations began on October 23, according to a notice from the Maritime Administration Department (MARAD) and will conclude by November 30.  The...
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bp’s Q3 2024 profit declines amid lower margins and impairment adjustments

OilNOW -
bp has reported an underlying replacement cost (RC) profit of US$2.3 billion for the third quarter of 2024, down from US$2.8 billion in Q2. The decrease reflects weaker refining margins, lower liquids realizations, and weaker oil trading results, partially...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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