News

The Guyana government is moving to establish a Development Bank that, when operational, would expand access to financing for small and medium-sized enterprises (SME) and reshape how local businesses secure investment capital. The institution is designed to sit at...

A Japan shipyard has completed the first section of MODEC’s next-generation hull for a floating production, storage and offloading vessel. Sumitomo Heavy Industries, Ltd. finalized the forward hull section at its Yokosuka shipyard. On July 2, the completed structure departed...

Guyana will sit on the International Board of the Extractive Industries Transparency Initiative for the next three years, with Minister of Natural Resources Vickram Bharrat named a Principal Member of the Implementing Country Constituency. The Ministry of Natural Resources announced...

The Centre for Local Business Development (CLBD) has trained more than 10,000 Guyanese over the past five years as part of efforts to strengthen the country’s supplier base and improve competitiveness in the oil and gas sector. The Centre told...

Tenaris has started operations at a new service center in Paramaribo, Suriname, to support TotalEnergies’ GranMorgu offshore oil project. The company announced on June 30 that the facility will provide integrated services for offshore operations. It will support Tenaris’ supply...

Trinidad and Tobago has introduced new fiscal measures to support the development of marginal marine gas fields, as the country moves to unlock stranded resources and strengthen long-term gas supply. Energy and Energy Industries Minister Dr. Roodal Moonilal outlined the...

Global technology company, SLB, has secured a seven-year contract with Kuwait Oil Company (KOC) under the state-owned producer’s Ahmadi Innovation Valley initiative.  The agreement will see SLB support the testing and deployment of technologies across KOC operations, including artificial intelligence,...

The Family Awareness Consciousness Togetherness (FACT) after-school program for science, technology, engineering and mathematics (STEM) is expanding its reach in Guyana with continued support from ExxonMobil Guyana, providing hands-on science and engineering education to children in underserved communities.  According to...

Guyana’s expanding oil and gas industry has contributed to a marked increase in women participating in business development, entrepreneurship and supplier readiness programs, according to the Centre for Local Business Development (CLBD). In a written response to OilNOW on June...

Offshore service providers, MODEC and Halliburton have entered a strategic collaboration aimed at advancing digital asset performance management for floating production, storage and offloading (FPSO) and wider energy operations.  MODEC disclosed on June 29 that the initiative is being led...