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No other FPSO project in past five years achieved ramp-up like Prosperity 

Shikema Dey -
ExxonMobil’s ramp-up of its third floating, production, storage and offloading (FPSO) vessel offshore Guyana has set an industry benchmark, according to Wood Mackenzie's Upstream Research Principal Analyst, Luiz Hayum.  The Prosperity FPSO, built for the Payara development, reached its oil...
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TotalEnergies optimistic of meeting US$9B budget for Suriname development

Shikema Dey -
TotalEnergies Chief Financial Officer Jean-Pierre Sbraire expressed confidence to shareholders that the company can hit the US$9 billion budget it set for Suriname’s first offshore development.  Sbraire’s assurance comes in the face of global inflationary pressures.  He said, “Today, I...
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Exxon’s Uaru and Whiptail projects could each target up to 275,000 b/d 

OilNOW -
ExxonMobil’s Uaru and Whiptail projects are each targeting an initial production range of 220,000-275,000 barrels per day (b/d), according to a document distributed at the company’s recent public meeting in Georgetown.  Uaru and Whiptail are the fifth and sixth oil...
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MODEC Guyana Inc. seeks contractors for topside valves project for Uaru FPSO 

OilNOW -
MODEC Guyana Inc. (MOG) has issued a Request for Information (RFI) for the supply of skilled manpower to execute the Topside Valves Signature on the Errea Wittu floating production storage and offloading unit.  The project, set to commence after 2026,...
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Guyana to remain carbon sink with Exxon’s Hammerhead and Gas-to-Energy projects

OilNOW -
Even with a string of massive oil developments being pursued offshore Guyana, the country will remain a net carbon sink for years to come, a study indicated.  Guyana’s Environmental Protection Agency (EPA) requested that ExxonMobil conduct an environmental impact assessment...
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TechnipFMC Q2 earnings surge on Whiptail contract boost

OilNOW -
TechnipFMC reported a significant earnings boost in the second quarter, driven by strong operational performance and key project awards, including the Whiptail project in Guyana. The company’s total revenue reached US$2,325.6 million, with net income at US$186.5 million, or...
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Guyana government not inclined to extend CGX’s license – Jagdeo

Kemol King -
Guyana's Vice President Bharrat Jagdeo said Thursday that the government is not inclined to grant an extension sought by CGX Energy for its Corentyne Block license. “ went to the Cabinet today. There were discussions. The Cabinet is not...
Guyana's Oil Ledger

Payara soars, boosting Guyana’s oil production outlook 

Kemol King -
Oil production at ExxonMobil’s Payara development has been optimized in record time, delivering oil output in excess of 250,000 barrels per day (b/d) in its eighth month of production. Payara, which achieved first oil in November 2023, first reached its...
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Venezuela signs 20-year gas deal with BP and NGC for Cocuina field

OilNOW -
According to the Energy Chamber of Trinidad and Tobago, Venezuela has signed a 20-year natural gas production and exploration agreement with BP and The National Gas Company of Trinidad and Tobago Limited (NGC) for the Cocuina gas field. The...
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As Venezuela election draws near, analyst says chances of Guyana invasion slim 

Shikema Dey -
July 28 is the day millions of Venezuelans will decide who their next president will be.  Perhaps it will be another term for Nicolas Maduro. Or maybe change will come with a win for Opposition candidate Edmundo Gonzalez. From Opposition...
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NewsShikema Dey -

Ali projects GY$870 billion housing investment for Guyana, 30,000 new homes over next five years

Guyana's President, Dr. Mohamed Irfaan Ali, has outlined plans for a GYD870 billion expansion in the country's housing sector...

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