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Construction on Guyana’s new Demerara River crossing begins

OilNOW -
A notice from Guyana’s Maritime Administration (MARAD) signalled the start of construction for the country’s new US$260 million Demerara River crossing. The completed structure is expected to be delivered within two years.  “As a result, an exclusive zone (Work Area)...
News

Equinor operating world’s first wind farm for offshore oil and gas

OilNOW -
Equinor is operating the world's first wind farm designed specifically to power offshore oil and gas platforms. Known as Hywind Tampen, this innovative project has revolutionized the industry by combining offshore wind power with traditional oil and gas operations. Located...
News

Exxon local workforce grows as Guyana investments skyrocket

OilNOW -
ExxonMobil Guyana and its contractors have demonstrated strong achievement on the local content front, investing over GY$80 billion (US$400 million) with more than 1,500 Guyanese businesses in 2022 alone. Since the initial discovery in 2015, their total expenditure with...
Exploration

Exxon keeps returning to Fangtooth discovery area

OilNOW -
The dual-activity dynamically positioned (DP3) drillship, Stena Carron, is undertaking operations in the deep waters off the Guyana coast in the ExxonMobil-operated Stabroek Block where a 7th development is being targeted. Guyana’s Maritime Administration Department (MARAD) said in a May...
News

Big contract opportunities for Guyanese with VEHSI

OilNOW -
Vreed-en-Hoop Shorebase Inc. (VEHSI) is inviting locally registered suppliers to provide 91 services in support of its operations. The Expression of Interest (EOI) submissions are due by May 29, 2023. VEHSI is a joint venture between NRG Holdings Inc., a...
News

Equinor opens Njord field after NOK 31 billion in upgrades

OilNOW -
Norway has officially reopened the Njord oil field in the Norwegian Sea, marking a significant milestone in the country's energy industry. The platform and floating storage and offloading vessel (FSO) have undergone extensive upgrades. Minister of Petroleum and Energy, Terje...
News

Appeal Court Justice to conclude Exxon insurance case before June 10

OilNOW -
Guyana Justice of Appeal, Rishi Persaud, has set May 29 as the hearing date for the appeal of a Supreme Court ruling concerning financial assurance for ExxonMobil’s Stabroek Block operations.  Persaud met with participants in the case during a case...
News

Laying of Guyana’s underwater gas pipeline to commence by June

Shikema Dey -
It’s full steam ahead with Guyana’s Gas-to-Energy project.  Before the second quarter ends, Van Oord and Subsea 7 are expected to begin laying pipeline infrastructure on Guyana’s seabed, project documents indicate. A project summary submitted by the consortium to the Environmental...
News

Guyana poised to capitalise on Latin America’s dwindling gas production

OilNOW -
Gas production is dwindling in Latin America at a time when the world needs the resource the most. But this could be an opportune time for Guyana - the South American country with big reserves that is laser-focused on...
News

CGX examining options to meet increasing costs for Wei-1 well

OilNOW -
With the drilling costs for the Wei-1 well on the Corentyne Block jumping from the initial US$160 million estimate to a range of US$175 million – US$190 million, shareholders for Frontera Energy Corporation have expressed concern about the capacity...
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ExxonMobil anticipates lower Q2 2025 earnings due weaker oil and gas prices

ExxonMobil expects lower crude and natural gas prices will weigh on its second quarter 2025 earnings, according to its...

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