News

Staatsolie Maatschappij Suriname N.V. has received two separate proposals for areas in Sector 3: DEMERARA, marking its second open acreage announcement in less than three weeks. The state oil company announced the new proposals on July 6, 2026. They cover...

PARAMARIBO, SURINAME – Combined oil production from the Guyana-Suriname Basin could overtake output from the U.S. Gulf of Mexico before 2032, according to S&P Global. Speaking at the Suriname Energy, Oil and Gas Summit (SEOGS) 2026, Isaac Nuti, Principal Analyst...

For most of the past decade, Guyana's petroleum strategy was relatively straightforward: discover oil, approve new developments and increase production. That objective has largely been achieved. Four floating production, storage and offloading (FPSO) vessels are producing offshore, output is expected...

PARAMARIBO, SURINAME — Suriname is still far from ready for the major developments that the oil and gas sector will bring starting in 2028. That critical warning was the focus of the well-attended panel discussions on local content at...

Offshore oil developments in Guyana and Brazil remain among the world's most competitive, with production costs low enough to support continued investment in floating production, storage, and offloading (FPSO) vessels even if crude prices weaken, according to MODEC's 2025...

Trinidad and Tobago’s oil production is projected to recover over the next three years, moving from years of decline to a stronger outlook by 2029, Energy and Energy Industries Minister Dr. Roodal Moonilal announced Wednesday. Moonilal gave the forecast during...

Latin America averaged 27 active offshore drilling rigs during the first five months of 2026, according to a July 2 report by the Energy Chamber of Trinidad and Tobago, which noted that the region continues to experience a slowdown. The...

Staatsolie Maatschappij Suriname N.V. has opened a 90-day window for competing proposals after receiving an application for an offshore exploration area under its Open-Door Offering. The proposal covers the DW WEST area in Sector 4. The proposal was announced on...

The Errea Wittu unit for ExxonMobil’s Uaru development in the Stabroek Block is part of MODEC’s latest floating production, storage, and offloading (FPSO) fleet under construction and will use the company's next-generation floating production technology. In its 2025 Integrated Report,...

Trinidad and Tobago’s decision to lower the royalty rate on qualifying marginal marine gas fields from 12.5% to 8% should give Guyana reason to reflect on how it debates petroleum fiscal terms. The measure, included in Trinidad and Tobago’s Finance...