News

Stena Drilling announced that it signed a new Contract with Ithaca Energy (UK) Limited for Mobile Offshore Drilling Unit (MODU) Stena Spey. The Stena Spey is a Friede & Goldman L907 (enhanced Pacesetter) twin pontoon, column-stabilised, semi-submersible offshore drilling unit.  The...

Drill rigs are expected to have a busy year in 2023. So much so that Westwood Global Energy Group sees day rates shooting up to US$500,000. Last year, Westwood said day rates for new drillship fixtures jumped to US$359,852 from US$232,555...

Corentyne Block majority stakeholder, Frontera Energy, said the total cost of the Wei-1 well (including 2022 pre-drill costs and costs related to drilling delays) are forecast to be approximately US$160-$170 million. Frontera anticipates it will spend approximately US$120-$140 million on...

SBM Offshore’s Fast4Ward® concept is transforming the way offshore projects are developed.  “It really has changed the way we are doing projects in the industry,” said the company's Chief Executive Officer (CEO), Bruno Chabas, during the Naming Ceremony for the...

ExxonMobil’s Chairman and Chief Executive Officer (CEO) Darren Woods believes that the value created by its successes in Guyana are being manifested locally.  Addressing investors during the company’s recent Q4 Earnings Call, he stated “...the importance of that resource and...

Guyana’s Finance Ministry announced Thursday that the Parliament has approved the GY$781.9 billion (US$3.75 billion) national budget for 2023. The approval follows two weeks of debates and hearings on various aspects of the budget. Minister of Finance, Dr. Ashni Singh...

ExxonMobil Guyana is looking for firms to provide a Screening Level Assessment of current and future landfill opportunities for its industrial waste. The study, it said, is intended to further develop the company’s long-term waste management strategy. “Note that “industrial” refers...

Guyana plans to hire a consultant this year to set the stage for the establishment of the government’s own petroleum data repository. “We will have to determine first of all what data we need to store, the size of the...

RAMPS Logistics’ Chief Executive Officer, Shaun Rampersad, said “a breath of fresh air” has been breathed into the Trinidad and Tobago services sector, now that the United States has granted a waiver of its sanctions regime to allow development...

Singapore, February 1, 2023: First Lady of Guyana, Arya Ali, says the name of the Prosperity floating production, storage and offloading (FPSO) vessel represents what is in store for the people of the new oil producing South American country....