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US, Guyana oil output surge aids global supply amid OPEC cuts – EIA

OilNOW -
U.S. crude oil production is set to outpace previous expectations, reaching 13.19 million barrels per day (b/d) this year, a slight increase from the initial projection of 13.1 million b/d, according to the Energy Information Administration's (EIA) Short-Term Energy...
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Oceaneering invests in cutting-edge technology to revolutionize subsea geotechnical surveying

OilNOW -
Oceaneering International recently made an advancement in subsea geotechnical surveying by placing an order with UK-based Feritech Global for an auto-drop piston corer. It said the next-generation equipment is anticipated to revolutionize the process of extracting sediment samples from...
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Stabroek Block co-venturers expand training to more technical institutes

OilNOW -
The Greater Guyana Initiative (GGI), in partnership with the Ministry of Education, Council for Technical and Vocational Education Training (C-TVET), and LearnCorp International, has launched Phase II of its technical and vocational training program across Guyana.  Building upon the success...
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Venezuela, Trinidad discuss developing Manakin-Cocuina cross-border gas

OilNOW -
Venezuela and Trinidad and Tobago are in talks for cross-border development of the Manakin-Cocuina gas field, according to updates from PDVSA and the Energy Chamber of Trinidad and Tobago. Manakin, on the Trinidad side, is in the bpTT-operated Block...
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G-PORT says workforce now 100% Guyanese

OilNOW -
G-Port, a joint venture (JV) between the Lousiana-based Edison Chouest and John Fernandes, now boasts a workforce that is 100% Guyanese.  That update was provided by Edison Chouest’s Business Development Officer, Daniel Lafont speaking exclusively to OilNOW on March 14....
Discoveries

Exxon makes new discovery at Bluefin off Guyana coast

OilNOW -
ExxonMobil Guyana said it made a discovery at the Bluefin well in the Stabroek Block offshore Guyana, its first this year. The Bluefin well encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone and was drilled by the Stena Drillmax...
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New Hayven Merchant Bank arranges US$25M finance for new Guyana shorebase

OilNOW -
New Hayven Merchant Bank has facilitated a US$25 million financing facility for Vreed-en-Hoop Shorebase Inc. (VEHSI).  Collaborating closely with an external financial entity, New Hayven Merchant Bank said it led the structuring and deployment of the arrangement, tailored specifically to...
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SBM Offshore, Technip Energies tackle floating offshore wind with new JV

OilNOW -
SBM Offshore and Technip Energies have announced their collaboration through the signing of a Memorandum of Understanding to establish a new joint venture entity named EkWiL. The venture aims to be a leading player in the floating offshore wind...
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Guyana government makes first withdrawal from oil fund for 2024

OilNOW -
Guyana's Ministry of Finance said the government has transferred US$250 million (approximately GY$52 billion) from the Natural Resource Fund (NRF) to its main bank account, the Consolidated Fund.  The National Assembly had approved US$1.586 billion (approx. GY$330 billion) to be...
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Guyanese firms among bidders to audit Exxon’s 2021-2023 Stabroek Block expenses

OilNOW -
Guyana’s National Procurement and Tender Administration Board (NPTAB) recorded three bids for the provision of consulting services to verify Stabroek Block expenses. Specifically, the services include a cost recovery audit and validation of the Government of Guyana’s profit oil...
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Letter-to-the-Editor: I commend the Labour Ministry’s independent assessment of FPSOs

Dear Editor, I am pleased to acknowledge the strides made by local authorities in taking the lead in managing Guyana’s...

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