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US, UK, Norway to ramp up oil exploration and production 

OilNOW -
As the need for an energy transition becomes increasingly apparent, a paradoxical trend has emerged. Several developed countries, including the United States, United Kingdom, and Norway, are expanding their petroleum exploration and production activities, raising concerns about hypocrisy, as...
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Development drilling ramps up at Liza 2 well site

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Development drilling continues at ExxonMobil Guyana’s Liza site in the Stabroek Block with the Noble Tom Madden drillship.  Guyana’s Maritime Administration (MARAD) said activities commenced on May 6 and will end on June 30 with 29 additional support vessels.  The well...
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Equinor advancing Brazil project with subsea contract to TechnipFMC

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TechnipFMC said it has been awarded a major (>US$1 billion) contract for an integrated Engineering, Procurement, Construction, and Installation (iEPCI™) project by Equinor Energy do Brasil Ltda., a subsidiary of Equinor ASA (Equinor). TechnipFMC Guyana team cops ExxonMobil safety award...
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IsDB and Guyana agree on Country Engagement Framework for green infrastructure and diversified economy

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A memorandum of understanding (MOU) between Guyana and the Islamic Development Bank (IsDB) will pave the way for a Country Engagement Framework for green, resilient and sustainable infrastructure to support economic diversification and doing business.  The deal was recently inked...
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Counter appeal filed in oil spill insurance case

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Civil Society Activist and Head of Transparency Institute Guyana Inc. (TIGI), Frederick Collins filed an objection on May 11 in Guyana's Appellate Court against an appeal by the Environmental Protection Agency (EPA). His objection is intended to block the EPA's...
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Exxon integrating technology, project management capabilities to grow unique Guyana asset at an industry-leading pace

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ExxonMobil Corporation’s Senior Vice President & Chief Financial Officer (CFO), Kathy Mikells recently disclosed that the American multinational is deploying its best technologies and project management capabilities to grow Guyana’s unique assets at an industry leading pace. Speaking to shareholders...
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SBM Offshore orders 8th Fast4Ward® Multi-Purpose Floater hull

OilNOW -
Dutch contractor, SBM Offshore’s full-year guidance remains on track after good performance in the first quarter of 2023.  Its report released on May 11, noted that the company has upped its Lease and Operate revenue to US$453 million - a...
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Three lines of defense protect Guyana from liability if a spill occurs

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Vice President Dr. Bharrat Jagdeo explained on May 11 that the cover in place for Guyana in case of a spill amounts to some US$16.6 billion.  This follows a statement from the Environmental Protection Agency (EPA) which said negotiations with...
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MODEC to supply fully electrified FPSO to Brazil for Equinor’s Campos basin cluster

OilNOW -
MODEC has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltd, a subsidiary of Equinor ASA, to provide a fully electrified Floating Production, Storage and Offloading (FPSO) vessel for the Pao de Acucar, Seat & Gavea...
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EPA consulted multiple established jurisdictions to determine guarantee from Exxon

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Guyana’s Environmental Protection Agency (EPA) has come out in defense of its decision to appeal a Supreme Court ruling related to the provision of financial assurance from ExxonMobil in the unlikely event of an oil spill due to Stabroek...
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Jagdeo says LNG remains a priority as Guyana moves to monetize its gas resources

Guyana’s Vice President Bharrat Jagdeo has reaffirmed that liquefied natural gas (LNG) remains a key option in Guyana’s plan...

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