News

Staatsolie Maatschappij Suriname N.V. has issued new bonds aimed at raising at least US$250 million and €50 million to fund its involvement in the development of the GranMorgu offshore oil field. De Surinaamsche Bank (DSB) is the lead arranger...

Plans are moving forward for ExxonMobil's seventh and eight developments offshore Guyana. A draft Environmental Impact Assessment (EIA) report for Hammerhead has been submitted and the application for Longtail is now under review. This is according to President of...

ExxonMobil’s Liza 2 and Payara projects in Guyana could each produce up to 265,000 barrels per day (b/d) once government regulators approve the proposed production increases. The two projects currently have demonstrated production capacity of 250,000 b/d each. ExxonMobil Guyana...

TotalEnergies recently announced that the Stena DrillMAX will soon head to Suriname’s Block 64 to drill the Macaw-1 prospect.  The 6th generation harsh environment dual-activity dynamically positioned (DP3) drillship is currently in Curaçao for maintenance. The vessel is equipped with...

By 2030, Guyana is projected to produce approximately 1.125 billion cubic feet per day (bcf/d) of natural gas, which is 45% of Trinidad and Tobago’s current gas production of 2.51 bcf/d.  This marks a shift in regional energy dynamics, as...

Organizer of the International Business Conference (IBC), Dr. Vishnu Doerga, issued an apology on Tuesday after the Guyana government and several business groups condemned the use of an incorrect map at the Paramaribo event last week. The map portrayed...

With the new Donald Trump administration ramping up American energy production and exports, Guyana’s President, Dr. Irfaan Ali said oil-producing nations like Guyana must adopt a “responsible and strategic” approach to resource management—despite global energy market fluctuation. During a recent...

Suriname’s state oil company, Staatsolie, has confirmed to OilNOW that Chevron will drill the Korikori-1 well in Block 5 sometime in the fourth quarter of this year.  Staatsolie’s affiliate Paradise Oil Company holds a 40% stake in Block 5. Chevron...

The Private Sector Commission (PSC) is the latest Guyanese body to condemn the display of a map at a conference showing the New River Triangle area as part of Suriname.  In a strongly worded statement on Tuesday, the PSC said...

Two more business groups in Guyana have issued statements condemning the use of a map that depicted Guyana’s New River Triangle as part of Suriname, at a Paramaribo conference last week.  The Guyana Oil & Gas Energy Chamber (GOGEC) and...