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Local farm supplying produce for Guyana’s oil production vessels recognized for innovative use of technology

OilNOW -
Plympton Farms’ greenhouse and hydroponic system, which are being supported by SBM Offshore Guyana’s Green Farms Initiative, recently gained the attention of the highest office in the South American country for its use of technology that allows for increased...
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Saipem secures US$700 million worth of contracts from Eni and BP

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Italy's Saipem, a leading engineering, drilling, and construction services company, continues to make waves in the energy sector with its recent contract wins. In the span of two days, the company has secured its third contract this month. The...
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From 0 to 400,000 barrels a day, Guyana “exploded” onto oil scene – S&P Global Analyst 

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Guyana’s ascent on the global oil scene has been nothing short of spectacular, as described by S&P Global Analyst Patrick Harrington during a podcast on August 3.  In a few short years, the South American country continues to make waves...
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Investor in new Exxon shorebase supporting major Demerara bridge project

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Azruddin Mohamed, a principal at Mohamed's Enterprise and an investor in the Vreed-en-Hoop Shore Base Inc. (VEHSI), announced on August 4 key support for the construction of the new Demerara Crossing. The project is one of the most important...
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Local Content Secretariat setting up unit to tackle ‘rent-A-citizen’ practice – Pertab

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Guyana’s Local Content Secretariat (LCS) will be setting up a new unit to address what is commonly referred to as 'rent-a-citizen', a practice where foreign investors use Guyanese nationals and/or businesses as mere fronts in order to circumvent provisions...
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Yinson Production secures US$230 million loan for FPSO Maria Quiteria in Brazil’s Jubarte Field

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Malaysian floater specialist, Yinson Production, has successfully secured a US$230 million loan to support the construction of a floating production, storage, and offloading vessel (FPSO) designated for the Jubarte field offshore Brazil. The financial deal was facilitated by infrastructure...
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Boskalis averts disaster by offloading crude from ‘ticking time bomb’ vessel off Yemen Coast

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Boskalis, an international maritime service provider, averted a colossal catastrophe through its subsidiary SMIT Salvage by successfully offloading over 1.1 million barrels of crude oil from the deteriorating floating storage and offloading (FSO) vessel Safer off the Yemen coast. The...
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Founder of Guyana’s first 100% locally-owned manpower services company steps down

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In a pivotal move that ushers in a new chapter for Strategic Recruitment Solutions Inc. (SRSGY), Kerri Gravesande-Bart, the trailblazing leader behind the brand, has revealed her decision to sell her shares and step down from her role as...
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First half of 2023 sees over US$300M in local value capture for Guyana; jobs totaling 3,348 – Pertab

Shikema Dey -
Local Content in Guyana has been performing stellarly, according to new data released by the Local Content Secretariat (LCS).  Director, Dr. Martin Pertab announced on August 10 that as of June 30, 2023, Guyana has managed to retain US$313 million...
Industry Insight

Increased activity on Guyana FPSOs, rising variation orders counterbalance H1 revenue dip – SBM Offshore 

OilNOW -
SBM Offshore reported a 15% drop in directional revenue for the first half of 2023 amounting to US$1.4 billion.  The company said the decline in revenue was largely driven by a decrease in directional turnkey revenue, which dropped to US$558...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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