News

The Liza Destiny and Liza Unity floating, production, storage and offloading vessels (FPSOs) are on ExxonMobil Guyana’s radar for purchase, said its Vice President and Business Service Manager, Phillip Rietema.  Both vessels were constructed by Dutch floater specialist SBM Offshore...

Tianjin-based marine engineering equipment supplier, Bomesc Offshore Engineering, has successfully secured a contract worth US$152 million for the topsides integration on the Errea Wittu floating production, storage and offloading (FPSO) vessel being constructed for ExxonMobil’s Uaru development in Guyana.  According...

TechnipFMC has signed a 20-year framework agreement with Chevron Australia Pty Ltd, under which TechnipFMC may provide Subsea 2.0™ configure-to-order subsea production systems for gas field developments off Australia’s northwest coast. The agreement covers the supply of wellheads, tree systems,...

The government of Guyana, through the Office of the Attorney General, has taken steps to defend the landmark Gas-to-Energy project in the face of yet another challenge. The project, aimed at transforming the country's energy landscape and providing low-cost...

Guyana's Vice President Dr. Bharrat Jagdeo has disclosed plans to commence a public consultation process for the draft Petroleum (Exploration and Production) Act, which will be unveiled by next week. The move will give Guyanese an opportunity to share...

MODEC has secured a significant agreement with Dalian Shipbuilding Industry Company (DSIC) to construct the hull for a new floating production, storage, and offloading (FPSO) vessel being built for ExxonMobil's Uaru development offshore Guyana. The DSIC, situated in Dalian City...

The floating production storage and offloading (FPSO) vessel Bacalhau, a collaboration between Equinor ASA and MODEC, Inc., embarked from the Dalian Shipbuilding Industry Co. (DSIC) yard on June 12, en route to Singapore for modules integration and commissioning.  Bacalhau represents...

Leaders in Guyana’s insurance industry recently affirmed that it has the capacity to underwrite 100 percent of the risks in the oil and gas industry. Specifically, Melissa Desantos, President of the Insurance Association of Guyana and Peter Abdool, President of...

Guyana’s Environmental Protection Agency (EPA) has received the mandated US$2 billion oil spill guarantee from Stabroek Block operator ExxonMobil Guyana and its partners, Hess and CNOOC. This was confirmed on June 14 by Exxon’s Vice President and Business Service Manager,...

While Guyanese authorities recently signed onto two hefty loan agreements with Qatar and Saudi Arabia totalling US$500 million, Vice President, Dr. Bharrat Jagdeo has assured that authorities still have a firm grip on its debt management reins. The official said...