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Engineer students from University of Guyana being absorbed by oil companies even before graduation – Vice Chancellor 

OilNOW -
The need for engineers in Guyana’s booming oil industry has led to students from the country’s premier university being absorbed by companies even before they graduate.  Vice Chancellor (VC) of the institution, Dr. Paloma Mohamed shared in a recent discussion...
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Exxon, Chevron led takeover activity in 2023, more deals expected in 2024 – WoodMac

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Wood Mackenzie's recent analysis revealed a shift in the oi and gas industry, characterized by a wave of consolidation, which it said is poised to persist through the energy transition phase.  In a Jan. 9...
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Westwood forecasts varied offshore rig dayrates in 2024 after record highs in 2023

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Westwood Global Energy Group reported a steady increase in dayrates for jackups, semisubmersibles, and drillships throughout 2023, with the latter two types seeing dayrates reaching or exceeding US$500,000 per day, excluding additional services. Westwood noted that the surge in rates,...
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TotalEnergies, APA drilled 14 wells in block 58 before hitting jackpot with Sapakara South, Krabdagu – Staasolie 

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Suriname’s state oil company - Staatsolie - revealed that TotalEnergies and APA Corporation drilled 14 wells in Block 58 before the big wins with the Sapakara South and Krabdagu discoveries.  Both reservoirs underpin Suriname’s first offshore development, pegged at approximately...
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Prosperity FPSO achieves background flare in record 39 days

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Guyana’s third oil production vessel - Prosperity - has achieved background flare in a record 39 days, according to an announcement by ExxonMobil Guyana Limited (EMGL) on Wednesday.  EMGL said the accomplishment marks a significant milestone in the company’s commitment...
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World Bank projects Guyana alone will nearly double Caribbean region’s growth

OilNOW -
The World Bank's Global Economic Prospects Report, published in January 2024, has projected that Guyana's economy is set to grow 38.2% in 2024. This figure not only surpasses the International Monetary Fund's (IMF) December projection of 26.6% but also...
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Exxon’s daily production to reach 3.8 million bpd this year, driven by Guyana, Permian growth 

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ExxonMobil says that growth in Guyana’s Stabroek Block and the Permian basin is expected to propel daily production to 3.8 million oil-equivalent barrels. By 2027, the company predicts daily production to hit 4.2 million oil-equivalent barrels. This is according to...
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US defense official engaging with CARICOM leaders in Guyana visit 

OilNOW -
Daniel P. Erikson, the U.S. Deputy Assistant Secretary of Defense (DASD) for the Western Hemisphere at the U.S. Department of Defense, is in Guyana from January 8 to 9, 2024. This visit, according to the U.S. Embassy in Guyana,...
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Mexico’s upstream slowdown seen as opportunity for Guyana

OilNOW -
According to a recent article by S&P Global Commodity Insights, the upstream oil and gas activity in Mexico is anticipated to experience a slowdown in 2024. This situation has emerged as companies foresee limited new opportunities following the election...
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GAICO to commission US$30 million marine facility this weekend 

OilNOW -
GAICO Construction and General Services is set to commission a US$30 million marine facility in Guyana, located at Nismes Foreshore, West Bank Demerara, housing a wharf, dry dock laydown, and storage yard.  In its project summary to the Environmental Protection...
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More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

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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