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PHOTOS: CGX forging ahead with work on Berbice Deep Water Port

OilNOW -
Work on CGX Energy’s Berbice Deep Water Port is progressing, as the company aims to have it partially operational by the fourth quarter. It is being built on 30 acres of land adjacent to and north of Crab Island...
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Saipem secures lucrative offshore contracts in the Black Sea and North Sea worth US$850M

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Italian multinational company Saipem has been awarded two significant offshore contracts with a combined value of approximately US$850 million.  The contracts encompass an Engineering, Procurement, Construction, and Installation (EPCI) project in the Black Sea and decommissioning activities in the North...
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Exxon commits to fulfill obligations, says won’t leave Guyana high and dry

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ExxonMobil Guyana’s President, Alistair Routledge has assured that Guyana is safe from liability should an oil spill occur in its offshore acreage as the company has a more than US$20 billion safety net protecting the South American nation.  At a...
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NOV strengthens presence in Latin America with new wellsite service facility in Guyana’s oil and gas corridor

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American Multinational, NOV - a worldwide drilling and oil production equipment provider - has joined the list of companies looking to on Guyana’s oil and gas success.  The company opened its Wellsite Service/Tuboscope facility at Rome on the East Bank,...
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Exxon must meet obligations, but we refuse to damage Guyana’s investment climate – Jagdeo

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Vice President of Guyana, Dr. Bharrat Jagdeo said that it is important for ExxonMobil to meet its obligations in the unlikely event of a spill offshore. However, he argued government will not support a process that damages the country’s...
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Uaru FID among major projects pushing 2023 rig contracting activity

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The latest Offshore Rig Market Snapshot from Evercore ISI - a US-based economic research firm - notes a positive uptick in deepwater drilling rig contracting activity this year driven by recently sanctioned projects.  Guyana’s fifth development - Uaru is on...
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Exxon to commence study on impacts of 6th proposed Guyana development

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Guyana's Environmental Protection Agency (EPA) has released the final terms of reference (TORs) for the Environmental Impact Assessment (EIA) which is to be conducted for ExxonMobil's sixth project offshore the South American country. Prepared by the Agency and London-based...
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SBM Offshore’s Capixaba FPSO destined for MARS

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Modern American Recycling Services Europe, A/S (MARS) said it was awarded a major EU Green Recycling contract for the retirement of SBM Offshore’s Capixaba floating production, storage and offloading (FPSO) vessel. The contract includes engineering, preparation, dismantling and green recycling...
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Guyana Court failed to recognise Stabroek co-venturers’ ability to meet financial obligations – Exxon

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ExxonMobil Guyana said on Thursday that it supports the appeal made by the Environmental Protection Agency (EPA) of Guyana, of a High Court judgment requiring it to provide an ‘unlimited’ parent and/or affiliate guarantee. The undertaking would be tapped...
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Few oil execs would want to take on unlimited financial risk, expert says

Shikema Dey -
The recent ruling handed down by a Guyana Court Judge regarding ExxonMobil Guyana's insurance obligations for its operations offshore the South American country is engaging the attention of a number of stakeholders and experts in the oil and gas...
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Kuwait, Qatar, other long-established producers now trail Guyana in per capita oil output

Countries with some of the world’s most mature petroleum industries now rank behind Guyana in per capita oil production,...

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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