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Yinson Production secures US$230 million loan for FPSO Maria Quiteria in Brazil’s Jubarte Field

OilNOW -
Malaysian floater specialist, Yinson Production, has successfully secured a US$230 million loan to support the construction of a floating production, storage, and offloading vessel (FPSO) designated for the Jubarte field offshore Brazil. The financial deal was facilitated by infrastructure...
News

Boskalis averts disaster by offloading crude from ‘ticking time bomb’ vessel off Yemen Coast

OilNOW -
Boskalis, an international maritime service provider, averted a colossal catastrophe through its subsidiary SMIT Salvage by successfully offloading over 1.1 million barrels of crude oil from the deteriorating floating storage and offloading (FSO) vessel Safer off the Yemen coast. The...
News

Founder of Guyana’s first 100% locally-owned manpower services company steps down

OilNOW -
In a pivotal move that ushers in a new chapter for Strategic Recruitment Solutions Inc. (SRSGY), Kerri Gravesande-Bart, the trailblazing leader behind the brand, has revealed her decision to sell her shares and step down from her role as...
News

First half of 2023 sees over US$300M in local value capture for Guyana; jobs totaling 3,348 – Pertab

Shikema Dey -
Local Content in Guyana has been performing stellarly, according to new data released by the Local Content Secretariat (LCS).  Director, Dr. Martin Pertab announced on August 10 that as of June 30, 2023, Guyana has managed to retain US$313 million...
Industry Insight

Increased activity on Guyana FPSOs, rising variation orders counterbalance H1 revenue dip – SBM Offshore 

OilNOW -
SBM Offshore reported a 15% drop in directional revenue for the first half of 2023 amounting to US$1.4 billion.  The company said the decline in revenue was largely driven by a decrease in directional turnkey revenue, which dropped to US$558...
News

Lack of capacity should never be excuse against guaranteeing local participation in oil sector – Chamber Head as Local Content Conference begins

OilNOW -
Though local content is deemed meaningless without capacity, its absence should not be used as the basis to lock locals out of opportunities in a country’s oil sector. So said the Chairman of the Ghana Chamber of Commerce Guyana,...
Exploration

Canada-based exploration company targeting ‘multi-hundred million’ payloads at Guyana block   

OilNOW -
A Canada-based oil and gas company is targeting a multi-hundred million barrel stacked pay opportunity at the Orinduik Block, offshore the South American country of Guyana. The exploration company - Eco (Atlantic) Oil & Gas Ltd. - said its...
News

Frontera eats up more of CGX’s shares in Corentyne Block to offset increased costs for Wei-1 drilling 

OilNOW -
Frontera Energy Corporation will soon hold a 72.7% Participating Interest (PI) in Guyana’s Corentyne Block as per an amended Joint Operating Agreement (JOA) with CGX Energy, its partner.  The amendment, CGX announced on August 10, will effectively see Frontera farming...
News

Guyana lawmakers pass landmark Petroleum Bill in marathon session of Parliament 

OilNOW -
Following an intense seven-hour-long debate, Guyanese lawmakers on August 9 passed the Petroleum Activities Bill which replaces the country’s Petroleum (Exploration and Production) Act of 1986. Natural Resources Minister, Vickram Bharrat who introduced the Bill to the House, underscored...
News

Local Content App being developed to bring “Guyanese closer to oil and gas contractors, licencees”

Shikema Dey -
Guyana’s Local Content Secretariat (LCS) is looking to develop an app to connect Guyanese contractors and licencees, said Director Dr. Martin Pertab on August 10.  Pertab, speaking at the Ghana-Guyana Local Content Conference explained that accessing information on opportunities in...
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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...

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