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Petrobras pledges US$18 billion investment to transform Campos Basin

OilNOW -
Petrobras has an ambitious investment plan totaling US$18 billion, slated for implementation until 2027. This strategy is focused on revitalising and expanding the renowned Campos Basin. The sizeable investment is earmarked for a multifaceted transformation, with a significant portion allocated...
News

Opposition’s 15% royalty proposal for new oil blocks would have killed potential investments – VP Jagdeo

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The decision of Guyana regulators to apply a 10% royalty for future oil blocks was a just and studied one says Vice President, Dr. Bharrat Jagdeo. Had the government caved to the recommendations of the country’s political opposition to...
News

Guyana’s ascent: From underdog to oil titan in less than a decade

OilNOW -
In a remarkable trajectory of transformation, Guyana has catapulted from relative inactivity to establishing itself as a world-class player in the energy sector in an impressively short span of time.  The journey, marked by bold exploration endeavors and strategic partnerships,...
News

Equinor announces ninth successful discovery well in Troll/Fram area of North Sea since 2019

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Equinor has unveiled its latest discovery in the Troll/Fram region of the northern North Sea. This marks the ninth successful well out of 12 attempts in this area since 2019. The newly discovered reserves are estimated to contain between 9...
News

CGX self-styles Berbice project as ‘Deep-Water Port’ but Jagdeo says it isn’t

OilNOW -
Vice President of Guyana, Dr. Bharrat Jagdeo said a facility being developed by CGX Energy in the South American country, styled by the company as the ‘Berbice Deep-Water Port’, “was never a deep-water port.”  “Deep-water port would be a port...
News

Gas-to-Energy pipeline can now be licensed with passage of petroleum law  

OilNOW -
A final investment decision (FID) for Guyana’s Gas-to-Energy (GtE) project is imminent with the recent passage of its Petroleum Activities Bill 2023, said ExxonMobil’s Guyana President, Alistair Routledge.  He told Energy Intelligence in London recently “...while we have not formally...
Exploration

Fangtooth appraisal program in high gear offshore Guyana

OilNOW -
ExxonMobil is moving to appraise the two discoveries it made earlier this year, Lancetfish-1 and Fangtooth SE-1. Guyana’s Maritime Administration Department announced the drilling activities in notices. The Stena Carron drillship will be utilised to drill Fangtooth SE-1 starting in...
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Vice President Jagdeo sets the record straight on Guyana’s refinery ambitions

OilNOW -
The downstream energy future of Guyana has been a focal point of recent discussions, especially in light of the recent memorandum of understanding (MoU) signed with the Dominican Republic. This MoU outlines the potential construction of a 50,000 barrels...
News

Guyanese construction providers needed to build new petroleum training institute for Exxon

OilNOW -
Guyana's rapidly growing oil and gas sector will soon have a world-class technical training college. ExxonMobil has published a RFI (Request for Information) targeting construction service providers, to pave the way for the establishment of the Guyana Technical Training...
News

Dutch company’s innovative composite pipe installed at ExxonMobil’s Liza Field

OilNOW -
Strohm, a composite pipe company, has successfully installed its first deepwater/high-pressure thermoplastic composite pipe (TCP) jumper in the Stabroek Block offshore Guyana. The installation marks the adoption of Strohm's innovative "Jumper on Demand" approach and its effectiveness in enhancing...
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French firm gets five-year tech support contract from ExxonMobil Guyana

French geophysical technology company Sercel announced on Tuesday that it has been awarded a five-year contract for technical support...

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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