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Saipem’s recent contract awards total US$650 million

OilNOW -
Saipem said that it was recently awarded new offshore engineering, procurement construction and installation contracts and competitive front end engineering design (FEED) contracts, totaling US$650 million.  One award is from Azule Energy for the Agogo Full Field Development project, a...
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Trinidad exploring carbon capture solutions for petrochemical sector

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With a target of cutting emissions by 15% by 2030, Trinidad and Tobago’s Energy Minister Stuart Young and a team of officials met with executives from three major petrochemical companies to discuss the country’s potential for carbon capture, utilisation...
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April 6 set for World Court ruling on Venezuela’s preliminary objections in border case with Guyana

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The International Court of Justice (ICJ) said it will make a key ruling in the border case between Guyana and Venezuela: Arbitral Award of 3 October 1899 (Guyana v. Venezuela). The judgment is not related to the conclusion of...
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Potential Ranger development could include resources at Tanager, other Kaieteur prospects – Westmount Energy

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Westmount Energy believes that the Tanager-1 discovery at the Kaieteur Block has potential to be a tie back for a development at Ranger, discovered in 2018 on the Stabroek Block. ExxonMobil Guyana President Alistair Routledge had told OilNOW on...
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McDermott will perform front-end work for Shell’s Manatee development in Trinidad

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McDermott said it has been awarded a front-end engineering design (FEED) contract from Shell Trinidad and Tobago Limited for the Manatee gas development project as part of a competitive FEED process.  Under the contract scope, the Texan company will provide...
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Liza was biggest, best prospect in a basin with zero discoveries…next target was a dry hole

OilNOW -
Updated April 2, 2023 Back in 2014, geologic models indicated a potential working hydrocarbon play in the Stabroek Block. The closest known hydrocarbon accumulations were located onshore Suriname and offshore Venezuela. At the time there were no wells in the...
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Major Exxon contractors cop OTC award for new technologies 

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Baker Hughes, Saipem and Schlumberger (now SLB) together with Equinor were among the top awardees for the Offshore Technology Conference (OTC) 2023 Spotlight on New Technology Award.  SLB, Baker Hughes and Saipem are all key contractors for ExxonMobil Guyana, operator...
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Advocates for renegotiation of Exxon contract have made a major loss

Kemol King -
The recent dismissal of a lawsuit against ExxonMobil’s Stabroek Block Production Sharing Agreement (PSA) marks a major loss for advocates pushing for changes to the contract.  Glenn Lall, the publisher of Kaieteur News, a Guyanese daily newspaper known for its...
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US$1.63 billion financing secured for Brazil’s largest FPSO – SBM Offshore

OilNOW -
SBM Offshore has secured project financing of US$1.63 billion for the floating production, storage and offloading (FPSO) vessel Almirante Tamandaré, which is set to become Brazil's largest oil-producing unit. The project financing has been provided by a consortium of...
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Guyana receives almost US$80 million for sole oil lift in March

OilNOW -
A statutory report in Guyana’s Official Gazette indicates the country received and sold one lift of profit oil from Stabroek Block crude production in March. The lift earned the country US$79,613,822.68 (GY$16,599,482,029).  For the new year, Guyana has received US$219,454,039.47...
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Survey says Exxon is ‘Most Admired Explorer’ propelled by mega wins in Guyana

ExxonMobil has been named the most-admired upstream explorer in the world, according to Wood Mackenzie’s 2025 Exploration Survey, a...

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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