News

As the Prosperity floating production, storage and offloading (FPSO) vessel gears for start-up in Guyana’s Stabroek Block this year, it could see the country entering its first government-to-government oil deal. The Prosperity will be the third production vessel for Guyana...

ON Energy Inc., a company registered in Guyana, is preparing to dissolve and owes its parent company CGX Energy Inc. US$3 million. But the company is now unable to pay its debts. ON had held a license for the Berbice block, onshore...

The Prosperity floating production, storage, and offloading (FPSO) vessel is expected to set sail from the Keppel shipyard in Singapore in the first quarter of this year for Guyana where it will produce oil and gas for the next...

Guyana has deposited US$1.86 billion in royalties and profit oil payments to the Natural Resource Fund (NRF) raking in GY$3.67 billion in interest in the last three years. For 2022, the nation earned a whopping GY$3.65 billion (US$17.51 million) in...

Subsea giant, TechnipFMC, announced the receipt of a substantial master services agreement (MSA) from Brazil’s state-owned entity Petrobras. For TechnipFMC, a substantial contract is valued between US$250 million and US$500 million. Jonathan Landes, President, Subsea at TechnipFMC, commented: “This new MSA...

ExxonMobil’s fifth project in Guyana, Uaru, is shaping up to be a giant undertaking both in terms of its field development and total cost.    The estimated cost comes in at a massive US$12.7 billion – reflecting current market conditions with...

As CGX Energy’s subsidiary, ON Energy, faces liquidation, the process will have no impact on the company’s current operations in Guyana. “Not at all,” Professor Suresh Narine, Executive Co-Chairman of CGX Energy’s Board of Directors, told OilNOW on Wednesday. ON Energy...

ExxonMobil Guyana has announced 10 meetings it will chair along the Guyana coast to discuss its planned Whiptail Development Project with the public. The meetings, to be held from January 30 to February 7, are meant to solicit inputs...

Halliburton announced total revenue for the full year of 2022 was US$20.3 billion, an increase of US$5.0 billion, or 33% from 2021. Operating income for 2022 was US$2.7 billion, and adjusted operating income was US$3.1 billion, excluding impairments and...

Norway based Rystad Energy said on Wednesday that a map used this week by the Trinidad and Tobago Energy Conference showing a portion of Guyana’s Stabroek Block in Venezuela’s waters was part of an ‘unfinished draft presentation’, and not...