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South America to become crude powerhouse by 2030 – Rystad 

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Crude oil production in South America is poised to reach a staggering nine million barrels per day (bpd) by the year 2030, according to new projections unveiled by a Norway-based energy research and business intelligence company. This surge in...
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Namibia, Guyana holds equal amount of offshore oil reserves

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Guyana and Namibia's oil reserves are estimated to be identical at 11 billion barrels, according to recent data released by the state-owned National Petroleum Corporation of Namibia (NAMCOR).  From NAMCOR’s data, the bulk of Namibia’s resources are from TotalEnergies' Venus-1X...
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Brazil gov’t removes major obstacle for Petrobras exploration in Foz do Amazonas Basin

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The Brazilian government has potentially removed a significant obstacle, allowing Petrobras to explore an offshore region regarded as the nation's most promising area for oil drilling. The attorney general's office (AGU) has issued a statement asserting that the project does...
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Exxon RFI out for blowout-preventer testing equipment

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ExxonMobil Guyana is ramping up its commitment to drilling safety and efficiency in the Georgetown area. The company is actively seeking suppliers capable of providing state-of-the-art Blow Out Preventer (BOP) testing equipment.  A BOP is a crucial safety device used...
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APNU+AFC-led gov’t granted Exxon extension for three oil blocks, documents show

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The Guyana Government clarified on Tuesday that an extension for exploration on three blocks operated by ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), was actually granted by its predecessor, and must therefore be honoured.  The government's statement follows...
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Subsea7 achieves groundbreaking remote ROV operation from Scotland to Brazil Coast

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In a remarkable feat of technological advancement, Subsea7 has successfully conducted a remote piloting operation for a work class Remotely Operated Vehicle (ROV) from Scotland, covering a staggering distance of 9,400 kilometers to the coast of Brazil.  Developed in-house by...
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Local opportunities soar as Baker Hughes Guyana seeks residential partner in oil boom

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In a move to bolster its presence in the burgeoning Guyanese energy sector, Baker Hughes, a prime contractor for ExxonMobil Guyana, is actively seeking locally owned, qualified, and registered companies to provide residential and apartment solutions in the South...
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Local trainee technicians shine in SBM Offshore’s advanced petroleum operations program

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In a significant milestone for the local workforce, twenty-four talented Guyanese have successfully completed the first phase of SBM Offshore Guyana's Trainee Technician Programme in Advanced Skills Training in Petroleum Operations.  The participants are now one step closer to obtaining...
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Sixth Stabroek Block project Whiptail to cost US$12.9 billion – EIA

OilNOW -
ExxonMobil Guyana’s next targeted development - Whiptail - is expected to cost US$12.933 billion (GY$2.690 trillion) according to the project's Environmental Impact Assessment (EIA). Exxon said it has not yet made a final investment decision (FID) on Whiptail and...
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Frontera says it already sunk US$400M into two Guyana wells, US$40M on CGX port facility

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Frontera Energy Corporation recently revealed to its investors that it has sunk approximately US$440 million into Guyana. During its 2023 second-quarter earnings update, executives told shareholders that US$400 million pertains to two wells in the Corentyne Block while the...
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Guyana must transform its oil boom into sustainable, broad-based prosperity – Minister Ally 

Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the...

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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