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Guyana oil fund earns over GY$7 billion interest income in H1 2023

OilNOW -
Guyana's Natural Resource Fund witnessed a surge in interest income in the first half of 2023, earning US$35.6 million (approximately GY$7.42 billion). This development is attributable to higher deposit account balances and escalated interest rates set by the Federal...
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Halliburton’s Latin America revenue jumps 9% in second quarter

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Oilfield services company Halliburton reported a 9% sequential revenue growth in Latin America for the second quarter of 2023. The US$994 million revenue was driven by increased pressure pumping and wireline activity in Argentina, higher completion tool sales in...
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Gas-to-Energy: Indian company gets US$159M EPC contract for transmission lines, substations

OilNOW -
Indian company, Kalpataru Projects International Limited (KPIL), has been awarded a contract of approximately US$159 million  to establish transmission lines and substations in support of Guyana’s Gas-to-Energy project. Targeted for completion in 2024, the infrastructure is instrumental for integrating...
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Guyana’s premier shorebase offers scholarships, employment opportunities

OilNOW -
Guyana Shore Base Inc. (GYSBI), the leading onshore support facility for the oil and gas industry in Guyana, is launching a new Technical Scholarship to boost education for young Guyanese individuals aged 16 to 25.  This initiative will provide support...
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Guyanese suppliers being sought to craft local content framework for Exxon’s new FPSO builder

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MODEC’s local affiliate, MODEC Guyana Inc., is moving to craft its local content compliance strategy in line with legal requirements. The company is setting up shop in Guyana, after being hired to build and deliver the Errea Wittu floating...
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Bp places Guyana output among decisive factors in next decade’s global oil supplies shift

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Guyana is poised for a significant uptick in oil production within the next decade, amidst a seismic shift in global oil supplies, according to the 2023 edition of the Energy Outlook report by British multinational oil and gas company,...
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Guyana set to roll out solar PV systems for hinterland homes this week

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In a bid to minimise the country's carbon footprint while addressing energy disparity, Guyana is poised to begin the distribution of solar photovoltaic (PV) home systems to 30,000 households in its hinterland communities. The Chief Executive Officer of the...
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Transocean to deploy ultra-deepwater drillship for US$518M GoM job

OilNOW -
Transocean announced Tuesday that an independent operator awarded a 1,080-day contract for a high-specification seventh-generation, ultra-deepwater drillship in the Gulf of Mexico. One of three drillships will be selected by Transocean from among Deepwater Invictus, Deepwater Thalassa, and Deepwater...
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Noble rig conducting operations at Payara as first oil nears

OilNOW -
Development drilling operations remain in high gear at ExxonMobil’s latest project off the Guyana coast, set to come online later this year. The Noble Bob Douglas will conduct activities which will conclude on August 31, according to a notice from...
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Gas-to-Energy Task Force Head condemns ‘obstructionist’ lawsuit against project

OilNOW -
Head of Guyana’s Gas-to-Energy Task Force, Winston Brassington, has urged Guyana’s Supreme Court to dismiss a lawsuit against the Gas-to-Energy project, arguing that it is obstructionist. The lawsuit concerns the issuance of an environmental permit by the Environmental Protection Agency...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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