News

A former ExxonMobil official, Jesus Bronchalo, is the Founder and Chief Executive Officer (CEO) of Fulcrum LNG—a U.S. firm Guyana identified to partner with the government and ExxonMobil on a major natural gas development. Bronchalo announced his association with Fulcrum,...

The Kersten Group of Companies announced the official opening of the Kersten Training Academy, an OPITO-certified training center focused on the onshore and offshore oil and gas industry in Suriname.  Kersten said the academy offers high-quality, mandatory energy and industry-related...

Guyana’s President, Irfaan Ali, has expressed readiness to renew diplomatic engagements with Venezuela following the conclusion of its current election period.  During a June 20 press briefing, President Ali addressed the importance of peaceful dialogue and regional stability while also...

CGX Energy and its Corentyne Block partner, Frontera Energy, are on the brink of losing the Corentyne Block.  This would make CGX’s third loss of a Guyana block, following the relinquishment of the Demerara and Berbice Blocks in June 2022....

Cost recovery for investments into the Stabroek Block petroleum operations are set to accumulate to approximately US$31 billion by the end of 2024.  The Stabroek Block Production Sharing Agreement, inked by the Guyana government, ExxonMobil, Hess and CNOOC, allows the...

Sonardyne, an independent global provider of underwater acoustic, inertial, optical and sonar technology will participate in the next phase of the On Demand Ocean Bottom Node (OD OBN) development in Brazil. This project, initiated in 2018, is a collaboration...

ExxonMobil Guyana is forging ahead with developmental drilling operations at the Yellowtail well site within Guyana’s Exclusive Economic Zone.  According to a June 19 notice from Guyana’s Maritime Administration Department (MARAD), the Modu Bob Douglas is spearheading the drilling activities,...

Guyana's offshore oil production continues to be a beacon of growth amid global oil supply challenges, according to Rystad Energy’s Vice President and Global Lead of Crude Trading Analysis, Patricio Valdivieso.  “Guyana’s offshore production is a bright spot,” Valdivieso stated.  ExxonMobil...

ExxonMobil has begun appraising the Lau-Lau find, according to a recent notice published by Guyana’s Maritime Administration Department (MARAD)  Activities are being undertaken by the MODU Sam Croft rig and are expected to end around July 30.  MARAD said the Lau-Lau-2...

Guyana is expected to amend its Financial Institutions Act (FIA) to ease access to capital, a major private sector concern.  President Irfaan Ali announced the proposed changes at a June 20 press conference and emphasized that the amendments will give...