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Guyana adds unitisation clause to oil contracts

OilNOW -
Guyana’s new offshore model petroleum agreements have added a unitisation clause to treat with reservoirs that straddle multiple contract areas, or that straddle a contract area and an open area.  The clause dictates that a Contractor shall notify the Minister...
Exploration

Hess, Chevron and Shell looking to hit pay at Suriname well this year 

OilNOW -
Chief Executive Officer of Hess Corporation, John Hess, said one exploration well will be drilled this year in Block 42 offshore Suriname.  Hess, Chevron and Shell, the operator, are equal stakeholders in the Block which lies north of Block 58,...
News

T&T’s economy on the mend – IMF latest stats show 

Shikema Dey -
Trinidad and Tobago’s economy appears to be slowly on mend, according to the latest stats released by the International Monetary Fund (IMF).  The IMF’s country report for the twin-island republic said in 2022, its real gross domestic product (GDP) expanded...
News

Aker BP completes Frosk field development, in North Sea

OilNOW -
Aker BP said the Frosk field development in the Alvheim area of Norway’s North Sea has been successfully completed and production has started on schedule and within budget. The completion comes 18 months after the Plan for Development and...
News

Major oil services company needs caterers for Guyana operations 

OilNOW -
Halliburton - one of the world's largest providers of products and services to the energy industry - is preparing to tender for catering services in support of its activities in Guyana. In a public Expression of Interest (EOI), Halliburton outlined...
News

Hess doing more for forests than many countries – VP Jagdeo

OilNOW -
Though many countries have agreed to protect and monetise forest services, Vice President Dr. Bharrat Jagdeo recently lamented that few have stepped up to put real action behind their words. In fact, the chief policy maker for Guyana’s oil...
Discoveries

Equinor strikes oil and gas at Heisenberg well in North Sea

OilNOW -
Equinor said it struck oil and gas near the Troll field in the North Sea, its eighth discovery since 2019. The volumes are estimated to be between 24 and 84 million barrels of oil equivalent, with slightly more oil than...
News

Exxon seeking suppliers for vehicles, telecommunication services in Guyana’s capital  

OilNOW -
Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL) is on the hunt for vehicle and telecommunications suppliers in the Georgetown area.  In public requests for information (RFIs), EEPGL said it plans to put in place agreements for the...
News

Guyana’s new model agreements set the framework for its natural gas story

Kemol King -
Guyana’s hydrocarbon story has been dominated by oil so far, but its new model petroleum agreements have established a framework that will compel the utilisation and commercialisation of its natural gas resource. Once contractors discover natural gas fields or excess...
News

Guyana’s offshore auction seeks US$85M in investments for social projects

OilNOW -
Guyana’s new petroleum agreements seek up to US$85 million in investments into environmental and social projects.  For each of the 14 contracts on offer, the new agreements seek US$1 million in investments into a Fund every year. 11 shallow water contracts...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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