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CNOOC, Tullow, SBM Offshore among 13 more with approved Local Content Plans

OilNOW -
Guyana's Ministry of Natural Resources announced on May 29 the approval of thirteen additional Local Content Annual Plans for the reporting year 2023. Approved plans detail the utilisation of Guyanese goods and services for the year in question. Vickram Bharrat,...
News

Trinidad, Venezuela for more talks on Dragon gas development in June

OilNOW -
Venezuela and Trinidad and Tobago are set to resume negotiations aimed at jointly developing a dormant offshore natural gas field, Reuters said with information from three sources familiar with the matter.  The two nations are scheduled to hold a meeting...
News

US government is fully supportive of Gas-to-Energy project – Jagdeo 

OilNOW -
The Gas-to-Energy project in Guyana is progressing. Alistair Routledge, President of ExxonMobil Guyana, and Dr. Bharrat Jagdeo, Guyana's Vice President, provided updates on the project during recent press engagements. On the government’s side, Mr. Jagdeo conveyed optimism about positive engagements...
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SBM Offshore revolutionises asset performance with intelligent agents, data analytics

OilNOW -
SBM Offshore, a global leader in offshore energy solutions, has unveiled its development of intelligent agents and data analytics to predict events and optimise asset performance. The company said its innovative solutions have continuously captured over 160 million time-series...
News

Exxon encouraged by prelim work on Guyana’s 5th FPSO as new builder enters market

OilNOW -
ExxonMobil made a shift from SBM Offshore to Mitsui Ocean Development & Engineering Company Inc. (MODEC) for its fifth production vessel - Errea Wittu.  While construction is in its early stages, Exxon remains confident that MODEC can deliver and match...
Exploration

Norway and Guyana defend oil production amidst environmentalist pressure

Shikema Dey -
There has been an increased global push from anti-oil environmentalists for an end to oil projects in an effort to combat climate change and ensure a smooth transition to renewable energy sources. But countries like Guyana and Norway have...
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Suriname’s stalled FID

OilNOW -
TotalEnergies is seen as Suriname’s golden ticket to kickstart its Guyana-like offshore oil production operations.   But this is proving to be slow in coming. Why? The country still awaits a final investment decision (FID) for its offshore Block 58 -...
News

Aker BP enhances resource base in Yggdrasil area with substantial oil find

OilNOW -
Aker BP said it is nearing completion of drilling the Øst Frigg Beta/Epsilon exploration well, situated in the Yggdrasil area of the Norwegian North Sea, and has made a significant oil discovery. Preliminary estimates indicate a gross recoverable volume of...
News

For every dollar invested in fossil fuels, 1.7 dollars going to clean energy – IEA Chief 

OilNOW -
Clean energy investments are projected to surpass fossil fuels by more than 50% this year, signaling a significant milestone in the transition to a sustainable energy landscape. According to a recent report by the International Energy Agency (IEA), global...
News

Tullow seeking to unlock value offshore Guyana but not any time soon

OilNOW -
Analysts had expected Tullow Oil  to drill the Amatuk prospect at Guyana’s Orinduik Block this year, but it doesn’t seem like that will happen.  The second renewal period of the Orinduik petroleum agreement started in January. It is set to...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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