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Guyana’s oil fund worth almost half of country’s annual budget

OilNOW -
Guyana’s Natural Resource Fund (NRF) closed April 2024 with a market value of US$2.634 billion (GY$549 billion), nearly equivalent to half of the country’s US$5.496 billion (GY$1.146 trillion) national budget this year.  Annual revenues to the government from oil production...
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Exxon targeting two appraisal wells at gas field off Guyana coast

Shikema Dey -
ExxonMobil Guyana is forging ahead with its Stabroek Block drilling program with two appraisal wells being targeted at the Haimara gas field, discovered five years ago. This is according to a document published in Guyana’s Official Gazette. The program includes the...
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Saipem gets US$850 million deal for subsea work off Angola coast 

OilNOW -
Saipem has been awarded a new offshore contract by Azule Energy Angola S.p.A., subsidiary of Azule Energy Holdings Limited, an incorporated joint venture between Eni and bp.  The award concerns the development of the Ndungu field as part of Agogo...
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Marlim revitalization will add 860 million oil-equivalent barrels to Petrobras’ accumulated production

OilNOW -
Petrobras estimates that the revitalization project of the Marlim field in the Campos Basin will produce an additional cumulative volume of 860 million barrels of oil equivalent.  Mariana Cavassin, Executive Manager of Production Development Projects at Petrobras, told participants at...
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WoodMac estimates 4.6 billion barrels discovered offshore Suriname 

OilNOW -
Consultancy Group, Wood Mackenzie puts Suriname’s oil resource count at more than 2.4 billion barrels and its natural gas resources at 12.5 trillion cubic feet (tcf).  Based on WoodMac’s numbers, assuming one trillion cubic feet of gas equals 176 million...
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SBM Offshore ‘pre-selected as preferred bidder’ for TotalEnergies’ Suriname FPSO deal – Upstream sources

OilNOW -
Upstream has reported that SBM Offshore could take the upper hand in competition with MODEC to build and deliver Suriname’s first floating production, storage and offloading (FPSO) vessel, as it was “pre-selected as the preferred bidder.” Fabio Palmigiani, the publication’s...
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Suriname’s Roystonea, Fusaea discoveries could support 100,000 b/d development – WoodMac 

Shikema Dey -
Petronas’ Roystonea-1 and Fusaea-1 discoveries in Block 52 offshore Suriname are estimated to hold recoverable resources approaching 400 million barrels, according to new numbers released by UK-based consultancy group Wood Mackenzie.  “This could be enough to support an FPSO ...
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Touchstone sees 20% decline in oil, natural gas sales last quarter

OilNOW -
Touchstone Exploration, a Trinidad-focused energy company, announced its financial outcomes for the first quarter of 2024, which note a 20% decrease in sales from oil and natural gas compared to the last quarter of 2023. In the latest quarterly financial...
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Seatrium gets topsides fabrication and integration award for Jaguar FPSO

OilNOW -
Seatrium Limited said it was awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of the Jaguar floating production, storage and offloading (FPSO) vessel destined for Guyana.  Seatrium’s scope of work...
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Celebrating women’s leadership: The journey of the 25 Influential Women Leaders Awards

OilNOW -
Lyndell Danzie-Black and Michelle Nicholas, two professionals forging connections at a conference, discovered a shared passion for celebrating women's achievements. This initial spark ignited the creation of the 25 Influential Women Leaders Award, aimed at amplifying the voices and...
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Guyana records US$3 billion trade surplus in Q1 2025, driven by oil exports

Guyana posted a trade surplus of US$3.01 billion in the first quarter of 2025, driven by crude oil exports,...

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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