News

The field development plan for ExxonMobil’s Hammerhead project is expected in the first quarter of 2025, according to Guyana's Minister of Natural Resources Vickram Bharrat.  “...then we will do our necessary due diligence with the view of issuing the license...

Guyana’s Corentyne Block has returned to state hands, Minister of Natural Resources, Vickram Bharrat confirmed on Aug. 14. The asset was held by CGX Energy as operator in partnership with Frontera Energy.  “CGX license has expired. There is no license...

The ExxonMobil-operated Stabroek Block offshore Guyana is estimated to hold 11.6 billion barrels of oil equivalent resources. Minister of Natural Resources, Vickram Bharrat, shared the updated figure during an August 14 press conference in Georgetown.  It represents the first change from...

Guyana's Local Content Secretariat is pushing to have local contractors in the oil and gas sector receive payments in 21 days, according to the Director, Dr. Martin Pertab.  Presently, oil companies have up to 45 days after the receipt of...

ExxonMobil’s oil production operations offshore Guyana could achieve up to 708,000 barrels per day (b/d) without breaching limits used to assess their environmental impacts.   The limits are captured in Environmental Impact Assessments (EIA) which formed part of the review processes for the...

ExxonMobil Guyana is paving the way for female professionals in the energy sector, with 52% of its local workforce comprising women. Jennifer Elliot, Geoscience Manager at ExxonMobil Guyana, highlighted the company's commitment to gender diversity during a recent interview...

Offshore rig movements from 2020 to 2024 reveal significant regional shifts, according to data from Westwood Global Energy Group’s RigLogix. The Middle East and Asia have been key regions experiencing increases in jack-up rig supply. From 2020 to 2023,...

ExxonMobil intends to purchase the Liza Destiny and Prosperity floating production storage and offloading vessels (FPSOs) from SBM Offshore, the shipbuilder reported in its half-year earnings.  SBM Offshore said both purchases are expected in the “second half of 2024, ahead...

US-based oilfield services provider McDermott International has been awarded a contract by Shell for the Manatee natural gas project offshore Trinidad & Tobago. The contract covers engineering, procurement, construction, installation, hook-up, and commissioning (EPCI) for the shallow-water Manatee development. The...

Guyana's Minister of Natural Resources, Vickram Bharrat, has refuted claims by Opposition Parliamentarian David Patterson regarding the operating limits of the country's oil-producing vessels. Patterson had alleged that the Liza Destiny, Liza Unity, and Prosperity floating production storage and...