News

ExxonMobil and its contractors grew their spend on Guyanese suppliers by an average of 80% annually, its 2023 Annual Report revealed. Spend grew from US$23 million in 2017 to US$641 million in 2023. Recent growth in spend picked up, particularly...

Guyanese fabricators have a new opportunity to provide well fabrication and assembly services in support of ExxonMobil’s offshore operations. A June 7 request for information (RFI) indicates that the company plans to put in place a multi-year enabling agreement for...

Guyana plans to commission a survey to gather data in support of offshore exploration and future bid rounds.  The Ministry of Natural Resources published a June 5 request for expressions of interest from “reputable and experienced” firms to conduct a...

Tobago will receive TT$50 million (approximately US$7.4 million) to offset expenses related to the recent oil spill, TT Live Online reported. The spill, which occurred in February, involved a tug and barge that ran aground. The state broadcaster said the...

Suriname is abuzz with energy. And hope too, as the country’s first offshore oil development is set to be sanctioned in a matter of months.  Thanks to successful hits in Suriname’s Block 58, operator TotalEnergies is forging full steam ahead...

TotalEnergies has reserved SBM Offshore's Fast4Ward® hull for its first development offshore Suriname. SBM Offshore made the announcement on Thursday. "SBM Offshore is pleased to announce that, in partnership with Technip Energies, and in line with the Front End Engineering and...

Suriname’s state oil firm Staatsolie and the National Energy Corporation of Trinidad and Tobago Limited (National Energy) have signed new agreements to enhance regional energy cooperation.  The signing took place on the sidelines of the 2024...

ExxonMobil Guyana reported comprehensive income (profit) of GY$614.6 billion (US$2.9 billion) in 2023. This is a 6% increase from the company’s GY$577.7 billion (US$2.75 billion) 2022 profit.  Exxon also recorded a 47% increase in equity from GY$1.49 trillion (US$7.09 billion)...

Kemraj Parsram, Director of the Environmental Protection Agency (EPA), said that if a spill occurs offshore Guyana and the government needs to tap a US$2 billion guarantee from the Stabroek Block consortium, it can negotiate additional sums. Parsram said that...

Digicel Group said it activated its subsea fibre optic cable ‘Deep Blue One’ to “supercharge” connectivity across Guyana, French Guiana, Suriname and Trinidad & Tobago. It said the cable network will provide seamless connectivity, facilitating uninterrupted communication and real-time...