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Guyana government’s 2023 withdrawals from oil fund now at US$400 million

OilNOW -
Guyana’s Senior Finance Minister Dr. Ashni Singh announced that the Government has made its second drawdown this year from the Natural Resource Fund in accordance with the Natural Resource Fund (NRF) Act 2021. The Minister indicated that the withdrawal was...
News

MODEC proceeding with first major Exxon deepwater project in 20 years, off Guyana’s coast

OilNOW -
Mitsui Ocean Development & Engineering Company Inc. (MODEC) said on Monday it will proceed with engineering, procurement, construction and installation (EPCI) of the Uaru Floating Production, Storage, and Offloading (FPSO) vessel following a final investment decision on the project by ExxonMobil Guyana...
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Exxon’s petroleum agreement for prolific Stabroek Block expires in October 2026 – Hess President

OilNOW -
Exxon's phenomenal success in the Stabroek Block can see the operator making a multi-billion-barrel addition to the already discovered 11 billion oil-equivalent barrels, once its exploration success keeps pace with what it has been, to date. Over the last...
News

Guyana eyes exporting gas from Uaru Project 

OilNOW -
With the Uaru Development Project expected to produce 540 million standard cubic feet of gas per day, Guyanese authorities want ExxonMobil Guyana to conduct a study on the possibilities for export. According to the provisions of the Petroleum Production Licence...
News

Guyana government moving to close energy gap between coast and hinterland

OilNOW -
Guyana is set to commence the rollout of the first phase of a project aimed at providing solar photovoltaic (PV) systems for 30,000 homes in hinterland communities starting in July. The announcement was made by Chief Executive Officer of...
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Guyana can tap multi-million-dollar LNG opportunities with Gas-to-Energy project – MP

OilNOW -
Guyanese Member of Parliament (MP), Jermaine Figueira believes the imminent Gas-to-Energy Project will be a game-changer for the South American producer as it is intended to provide a reliable and affordable source of energy for domestic consumption while facilitating...
Exploration

Exxon to conduct suite of studies to optimise Stabroek Block projects

OilNOW -
ExxonMobil Guyana has agreed to conduct a suite of studies to ensure the operational efficiencies and integrity of its Stabroek Block projects are preserved for decades to come.According to the Petroleum Production Licence for the Uaru Development Project, Exxon’s...
News

Permian Basin delivers record-breaking performance in 2023 Q1

OilNOW -
American oil giant, ExxonMobil Corporation reported on April 28 that its Permian Basin assets delivered a record-breaking quarterly performance, reaching over 600,000 oil equivalent barrels. Specifically, Kathy Mikells, Exxon’s Senior Vice President & Chief Financial Officer said, “We reached a...
News

Five sanctioned Stabroek Block developments offer strong fiscal cushion for GtE Project

OilNOW -
Guyana’s Liza Destiny and Liza Unity floating production, storage and offloading (FPSO) vessels have allowed the country to earn a whopping US$2.2 billion in royalties and profit oil in a three-year period spanning from March 11, 2020 to March...
News

TotalEnergies to FID Angola oil development this year 

OilNOW -
TotalEnergies EP Angola, in partnership with Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) and Sonangol Pesquisa e Produção S.A, has signed a heads of agreement related to the future development of the Cameia and Golfinho fields, located on...
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Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

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