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Seismic giants TGS & PGS merge to create powerhouse geophysical company worth US$863.74 million

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Two seismic industry leaders, TGS and PGS, have embarked on a merger, valued at US$863.74 million, in a bid to establish a more potent and diversified geophysical entity. The union aims to harness technology and innovation to revolutionize the...
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Touchstone Exploration quickly hits target production rate at Cascadura

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Touchstone Exploration Inc. has successfully reached its target production rate at the Cascadura project within a week of the project coming online. The company announced that it achieved its forecasted Cascadura gross natural gas production rate of 60 million...
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Guyana reaffirms right to pursue investment in its territory, as Venezuela objects to bid round

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President of Guyana, Dr. Mohamed Irfaan Ali, is staunchly reaffirming Guyana’s right to pursue economic activities within its territory, after a recent statement by the Bolivarian Republic of Venezuela condemning Guyana's offshore licensing round. In the official release, Venezuela stated:...
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Guyana plans to publish draft gas strategy for consultations in two weeks – Jagdeo

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Guyana's Vice President, Dr. Bharrat Jagdeo, announced during a recent press conference that the country is set to release a draft of its gas strategy within the next two weeks for public consultation. This comes as part of the...
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SBM Offshore and Mitsubishi Heavy Industries unveil CO2 capture solution

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SBM Offshore and Mitsubishi Heavy Industries Ltd. (MHI) have unveiled a significant stride toward reducing greenhouse gas emissions from floating production, storage and offloading vessels (FPSO). They announced a Partnership Agreement that aims to provide a carbon dioxide (CO2)...
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Lone bidder poised to conduct Guyana skills audit

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Ontario-based Dunn, Pierre Barnett & Company Canada Ltd has stepped forward in response to Guyana's Ministry of Education's call for technical and financial proposals to conduct a national skills audit for the South American nation.  A bid from the firm...
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DOF secures US$260 million worth of service contracts with Petrobras

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Norwegian offshore support vessel firm DOF announced on Sept. 18 that it has won three new service contracts with the Brazilian oil giant, Petrobras. The contracts were awarded to DOF through a competitive bidding process and encompass services within...
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Guyana carefully monitoring impacts of oil spending amid development push – VP Jagdeo assures

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While Guyanese authorities can be commended for aggressively channeling a portion of its oil revenues to public infrastructure and social welfare development, the International Monetary Fund (IMF) has recommended that there be periodic reviews of such expenditure. The financial...
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Exxon projects only three three-month flaring phase for largest Guyana project

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An Environmental Impact Assessment (EIA) submitted by ExxonMobil for its latest proposed project in Guyana shows that the country's regulations for flaring at the start-up phase of oil production are stricter than those of the United States.  ExxonMobil’s Whiptail Project,...
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Guyana’s acceleration of oil operations a proactive approach amid global energy shifts – VP Jagdeo

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Guyana’s Vice President, Dr. Bharrat Jagdeo recently highlighted the complexities and challenges surrounding oil block auctions, cautioning that the industry is not a guaranteed 'gold mine' as perceived by some critics. At a press engagement last week, the official...
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Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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