News

Guyana-Suriname Basin, Brazil among busiest regions this year for high-impact drill campaigns

High impact exploration drilling is expected to remain stable in 2025, with 65-75 wells targeted for completion, compared to 69 in 2024. In this regard, South America could see 17 of these wells being drilled, making it the busiest...

Suriname must reject complacency as it prepares for first offshore oil development – Santokhi

Suriname’s President Chandrikapersad Santokhi says the country must reject complacency and a culture that tolerates mistakes as it prepares for its first offshore oil development. “As a nation, we must reject the mentality that accepts mistakes and shortfalls as usual,”...

Staatsolie seeking US$250 million through bonds for Gran Morgu development 

Suriname state oil company Staatsolie has launched a bond to come up with “at least” US$250 million and EURO 50 million for its participation in the TotalEnergies-led Gran Morgu development in Block 58.  The company stated that the bond will...

Ruling issued on Gas-to-Energy project dispute

A ruling has been issued in the dispute between the Government of Guyana and Gas-to-Energy contractor, Lindsayca/CH4. The matter was referred to the Dispute Avoidance and Adjudication Board (DAAB) on September 19, 2024. In a statement on Monday, the Office...

Baker Hughes awarded supply contract by ExxonMobil for Guyana FPSOs 

ExxonMobil Guyana has awarded a contract to energy technology company Baker Hughes to supply specialty chemicals and related services to its Uaru and Whiptail offshore greenfield developments in Guyana’s Stabroek block.  Baker Hughes said the multiyear contract includes all topsides,...

Petrobras closes 2024 with 11.4 billion of proven reserves 

Petrobras ended 2024 with a proven reserve of oil, condensate, and natural gas estimated at 11.4 billion, according to the Securities and Exchange Commission (SEC) regulations.  Of the total, 85% account for oil and condensate while the remaining 15% accounts...

Exxon’s Yellowtail project could start producing oil in third quarter 

Darren Woods, Chair and Chief Executive Officer of ExxonMobil, says the Yellowtail project could begin production in the third quarter of 2025. During Exxon’s 2024 earnings call, Woods said, "the team managing the Guyana development continues to demonstrate project after...

‘Sun won’t shine, wind won’t blow forever’, hydrocarbons needed to power energy future – NJ Ayuk

Paramaribo, Suriname - The world cannot rely solely on renewable energy to power its future, as hydrocarbons remain essential for energy security and industrialization, says NJ Ayuk, Executive Chairman of the African Energy Chamber. Speaking at the Suriname Awareness...

Guyana could issue two licences this year: one for oil and one for gas

The Guyana government has set a target in its 2025 plan to issue two petroleum licenses. According to Vickram Bharrat, the Minister of Natural Resources, one of these could potentially be for natural gas.  “The two that are expected to...

EOG Resources Ltd. secures Production Sharing Contracts in TT

The Ministry of Energy and Energy Industries (MEEI) has awarded Production Sharing Contracts (PSCs) for Blocks NCMA 4(a) and Lower Reverse L to EOG Resources Limited. The contracts were signed on January 29, by Stuart Young, the Minister responsible.  The...

Latest News

Hinterland School shines in Mousetrap Car Grand Prix competition 

Paramakatoi Secondary, Abram Zuil Secondary, and St. Rose’s High emerged as champions in the third annual Guyana-Monaco Mousetrap Car...