News

ExxonMobil Guyana is forging ahead with developmental drilling operations at the Yellowtail well site within Guyana’s Exclusive Economic Zone.  According to a June 19 notice from Guyana’s Maritime Administration Department (MARAD), the Modu Bob Douglas is spearheading the drilling activities,...

The floating production storage and offloading (FPSO) unit Maria Quitéria, built by Malaysian supplier Yinson, has departed China and is en route to Brazil. It will be deployed at Petrobras’ Jubarte field in the Campos Basin. The FPSO Maria Quitéria...

ExxonMobil has begun appraising the Lau-Lau find, according to a recent notice published by Guyana’s Maritime Administration Department (MARAD)  Activities are being undertaken by the MODU Sam Croft rig and are expected to end around July 30.  MARAD said the Lau-Lau-2...

Guyana is expected to amend its Financial Institutions Act (FIA) to ease access to capital, a major private sector concern.  President Irfaan Ali announced the proposed changes at a June 20 press conference and emphasized that the amendments will give...

Guyana has identified Fulcrum LNG to potentially partner with it and ExxonMobil on a natural gas development, President Irfaan Ali said at a June 20 press conference in Georgetown.  The U.S. energy firm was among 17 to submit proposals to...

Westwood Global Energy Group reports that the top 10 offshore drilling contractors manage 29% of the rigs in Latin America. Valaris, Noble, and Borr Drilling each have seven rigs in the region, leading the international presence. Noble’s fleet is primarily...

The oil-rich nation of Guyana is taking significant steps to simplify business operations and attract more investments with the launch of its Planning and Development Single Window system. This new system, as announced by President Dr. Irfaan Ali, focuses...

Guyana’s President, Irfaan Ali, is adamant that he will not be compromised in wake of sanctions levelled against two local businessmen by the U.S. Treasury Department just days ago.  “I will not be compromised, not me,” Ali affirmed during a...

Chairman and Chief Executive Officer of Nestoil Group, Dr, Ernest Azudialu-Obiejesi, has urged the Guyanese government to learn from Nigeria's past mistakes in the oil and gas sector and strongly enforce its local content law.  His comments come as Guyana...

In response to rising global fuel prices, the Guyana government will soon present a supplementary budget of US$66 million to the National Assembly to enable the state-owned Guyana Power and Light to subsidize electricity costs for domestic consumers. Vice President...