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DOF secures US$260 million worth of service contracts with Petrobras

OilNOW -
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

OilNOW -
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

OilNOW -
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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TGS unlocks access to data for 300 wells in Trinidad and Tobago’s energy-rich basins

OilNOW -
TGS, a provider of energy data and intelligence, recently announced that it can now provide access to derivative standardised well data from 300 wells in Trinidad and Tobago’s onshore and offshore basins.  TGS said its well packages are interpretation-ready and...
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IMF supports Guyana’s disciplined use of oil wealth to improve business climate, fix labour woes

OilNOW -
The International Monetary Fund (IMF) has praised Guyanese authorities for their disciplined use of the nation's oil revenues to not only improve the business climate but also address labour woes. "The authorities’ commitment to fiscal discipline is welcome and...
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Guyana bid round: No bids from Shell despite interest

Shikema Dey -
Shell would have brought some much-needed competition to the Guyana basin by throwing in a bid in the country’s first licensing round. But when the bids were opened on Sept. 12, the major’s name was noticeably absent, leaving one...
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US$9.8 billion set aside by Petrobras to push decommissioning strategy

OilNOW -
Petrobras has inked an agreement with Porto do Açu, located in São João da Barra, Rio de Janeiro (RJ), to facilitate the sustainable decommissioning of oil and gas platforms. The new partnership aims to ensure environmentally responsible platform decommissioning.  The...
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“Cannot go back and renegotiate” – Pres. Ali reaffirms Guyana’s position on oil contract sanctity

OilNOW -
In a recent interview with the BBC's Gideon Long, Guyana’s President Dr. Mohamed Irfaan Ali reaffirmed his government's position of upholding the Stabroek Block Production Sharing Agreement even as calls persist for the renegotiation of the 2016 deal with...
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Guyana oil auction: Who is the lone Guyanese bidder, Sispro Inc.?

Kemol King -
In Guyana's inaugural offshore licensing round, Sispro Inc. stands out as the only Guyanese company among the bidders. Located in South Cummingsburg, Georgetown, this indigenous start-up is a stand-out. So, who are the locals behind it? Founded by four women...
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High-tech seismic campaign offshore Guyana to wrap up in December

ExxonMobil Guyana will complete its latest seismic data acquisition campaign in December, marking the end of a months-long effort...

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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