News

Muneshwers Ltd. and John Fernandes Ltd. are working through their joint venture, Cranes Guyana Inc., to bring a modern port to the South American nation’s coast.  The two leading shipping and logistics companies are setting the stage for what could...

Noble Corporation has secured a 390-day contract extension from Petrobras Colombia for its Noble Discoverer semi-submersible rig. In an April 10 LinkedIn post, Noble said the extension pushes operations through to around August 14, 2026. Exxon Guyana drilling operations providing exciting...

Guyana is weighing the use of bonds as a financing tool to deepen local participation in its growing oil and gas sector. This is according to Vice President Bharrat Jagdeo during his weekly press briefing on April 10.  The...

MODEC is inviting expressions of interest (EOI) for laboratory testing of potable water samples from its offshore fleet in Guyana. The company requires physical, chemical, and microbiological analyses. Testing must align with standards set by Guyana Water Incorporated (GWI). Eight Guyanese...

Guyana’s Minister of Natural Resources, Vickram Bharrat, has warned that the country’s Local Content law must not be misused by local companies as a cover for poor standards or inflated costs.  “The local content legislation, by no means, is protection...

The Local Content Secretariat expects the value of local content in Guyana's oil and gas sector to exceed US$847 million in 2025. This marks an increase of nearly US$104 million over 2024. Director of the Secretariat, Dr. Martin Pertab, said...

According to its 2024 annual report, Hess Corporation plans to return 94% of its net undeveloped acreage, primarily to Guyana and Suriname, over the next three years.  In Guyana, Hess has a 30% stake in the 6.6-million-acre Stabroek Block. A...

ExxonMobil drilled eight successful exploration and appraisal wells in the Stabroek Block last year, according to Hess’s latest annual report.  All eight wells “encountered hydrocarbons”, Hess said. There was “one unsuccessful exploration well for which the well costs were expensed.”  This...

The Energy Chamber of Trinidad and Tobago (TT) has stated that the country must urgently pursue natural gas opportunities in its exclusive economic zone (EEZ). This comes as the United States government revoked two OFAC special licenses for the Dragon...

Hess’ Guyana net oil production in 2024 beat its U.S. output for the second time, the company said in its annual report.  Net Guyana output for Hess’ 30% stake in the Guyana Stabroek Block was 68.136 million barrels in 2024,...