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CGX announces discovery at Wei-1 in second successful campaign offshore Guyana

OilNOW -
CGX Energy Inc. and Frontera Energy Corporation announced on Wednesday an oil discovery at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore Guyana. The Joint Venture said it has successfully finished drilling operations without any safety...
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Development drilling at Payara well site ramps up as start-up date nears

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Development drilling activities in the Stabroek Block have increased as operator ExxonMobil Guyana gears up to commission the Prosperity floating production, storage, and offloading (FPSO) vessel.  According to the Maritime Administration Department (MARAD), the PY_1i2 Well Site is located approximately...
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Oil companies that fail to fulfil obligations will face penalties under new Guyana law

OilNOW -
Guyana Vice President Dr. Bharrat Jagdeo recently explained that the government does not want oil companies to sit on blocks for years without executing their work commitments. This has informed proposed changes to the country’s oil law.  Among the mechanisms...
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US$550 million in Middle East, Mediterranean contracts for Saipem

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Saipem has secured two significant offshore drilling contracts worth a combined total of approximately US$550 million. These contracts were awarded in the Middle East and the Mediterranean Sea. In the Middle East, Saipem has obtained a ten-year extension to an...
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OPEC says Guyana has not been invited to join

Shikema Dey -
The Organisation of Petroleum Exporting Countries (OPEC) on June 27 said that it has not invited South America’s newest oil producer - Guyana to become a member, contrary to a Wall Street Journal report.  “In view of recent reports about...
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Extensive appraisal work in play to define Fangtooth as 7th project offshore Guyana – Hess

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Hess Corporation’s Chief Executive Officer (CEO), John Hess has confirmed that extensive appraisal work is being undertaken to properly develop the Fangtooth field as the seventh project for the Stabroek block partners. During a recent conference, Hess said it is...
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OPEC’s eyes are on Guyana but the answer remains no

OilNOW -
The Organisation of Petroleum Exporting Countries (OPEC) has its eyes on Guyana but its efforts at persuading the South American nation to join the group have been unsuccessful to date.   “We don’t want to be part of OPEC at...
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Guyana Opposition says oil bill missing key learnings from recent years

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Guyana's Opposition Leader, Aubrey Norton on Monday expressed disappointment with the newly released Petroleum Activities Bill, stating that it fails to incorporate the lessons learned from challenges faced by the country's oil and gas industry in recent years. The...
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First, security. Now, human rights: Guyana scores seat on hemispheric commission

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Guyana, a rising player on the global stage, has secured yet another significant position in international bodies. Guyanese National Dr. Christopher Arif Bulkan was elected as a Commissioner on the Inter-American Commission on Human Rights (IACHR), marking the first...
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Other countries auctioning blocks don’t have record of discoveries like Guyana – Jagdeo

OilNOW -
Vice President Dr. Bharrat Jagdeo said Thursday that companies interested in Guyana’s offshore licensing round will not be deterred by its postponement. He recently announced a one-month postponement to facilitate the update of Guyana’s outdated oil laws.  “We have enormous...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

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