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With 52% equity boost, Exxon-led Guyana group better positioned to handle a spill

Kemol King -
The combined equity of the Guyana affiliates of ExxonMobil, Hess and CNOOC was US$18.6 billion at the end of 2023. This is a 52% increase from US$12.2 billion in the prior year, boosting the group’s capacity to respond to...
Exploration

S&P estimates 18.7 billion barrels of recoverable resources in Guyana Basin

OilNOW -
S&P Global estimates that recoverable resources of 18.7 billion barrels of oil equivalent (boe) have been discovered in the Guyana Basin since 2015.   S&P Global Commodity Insights analysts Fernanda Machado, Mariana Anjos and Jerry Jarvis said in a...
News

Exploration continues at Lau-Lau-2 with Noble Don Taylor 

OilNOW -
The Noble Don Taylor is continuing exploration drilling at ExxonMobil’s Lau-Lau-2 well site in Guyana’s Stabroek Block.  A notice from the Maritime Administration Department (MARAD) posted over the weekend outlined that drilling operations will end on October 31, 2024. The...
News

UG’s Petroleum Engineering degree in high demand, while U.S. programs face decline

OilNOW -
The University of Guyana (UG) started offering programs in Petroleum Engineering in the 2017/2018 academic year, and have since seen flourishing demand for its graduates. This comes in stark contrast to a decline in enrollments to similar programs at...
News

Women must be at the frontline of Guyana’s explosive development – Lady Cherie Blair

OilNOW -
Lady Cherie Blair, founder of the Cherie Blair Foundation for Women, emphasized the vital role of women in Guyana's rapid development. Speaking on the Energy Perspectives podcast, Blair highlighted the impact of women's empowerment on economic progress. Blair's advocacy stems...
News

ABS to classify Seatrium’s new FPSOs for Petrobras in offshore digital collaboration

OilNOW -
Seatrium has awarded the American Bureau of Shipping (ABS) a classification contract for Petrobras' newbuild floating production storage and offloading (FPSO) platforms, P-84 and P-85. Final delivery is expected by 2029. These are the first FPSOs following the ABS...
News

GAICO building fertilizer blending plant, second wharf ahead of Gas-to-Energy start-up

OilNOW -
GAICO Construction and General Services Inc. is building a fertilizer blending plant and a second wharf on the West Bank of Demerara. The combined investment cost is estimated to exceed US$10 million, GAICO’s Chief Executive Officer, Komal Singh told...
News

Noble Sam Croft undertaking development drilling at Exxon’s Whiptail well site 

OilNOW -
Development drilling at ExxonMobil’s Whiptail well site in the Stabroek Block continues with the Noble Sam Croft, according to a public notice by the Guyana Maritime Administration Department (MARAD).  Activities are expected to conclude on August 31 at the site,...
News

Global economic growth steady but mixed, says IMF

OilNOW -
The International Monetary Fund (IMF) has released its latest global economic forecast, projecting stable growth rates of 3.2% in 2024 and 3.3% in 2025. “The forecast for global economic growth is broadly unchanged from that in April,” the IMF...
News

Eco (Atlantic) plans Guyana drill campaign for 2025

OilNOW -
Eco (Atlantic) Oil & Gas plans to drill one exploration well at the Orinduik Block offshore Guyana in the first half of 2025.  The company said in a July presentation that it is focused on multi-million barrel stacked pay targets...
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Eight Graduate Engineers complete SBM Offshore Guyana programme, nine join new cohort

Eight young Guyanese engineers have completed SBM Offshore Guyana’s Graduate Engineers’ Programme, marking the end of an intensive 18-month...

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