News

News

TT Energy Expert urges cautious approach to Dragon Gas Deal

OilNOW -
Energy Strategist and Advisor Anthony Paul has urged Trinidad and Tobago to get its proverbial ducks in order before approaching the Dragon gas deal with Venezuela’s state-own PDVSA. “I think that we have a bigger role to play on the...
News

Exxon waiting on “material improvement” before revising Stabroek Block resource count

OilNOW -
ExxonMobil has been quickly racking up discoveries in Guyana’s offshore Stabroek Block with nine alone in 2022. Yet, no revision has been made to the resource count. At present, Exxon said it has discovered close to 11 billion oil equivalent...
News

Prosperity FPSO first to be outfitted with fabricated steel from Guyana

OilNOW -
Guyana grabbed a massive win for local content with the Prosperity vessel. According to SBM Offshore, it is the first Guyana floating, production, storage, and offloading (FPSO) vessel to incorporate Guyanese fabricated steel. And that stellar feat was made possible by...
News

FEED work commences on sixth Stabroek Block project

OilNOW -
Front end engineering and design (FEED) work has commenced on the Whiptail development project, ExxonMobil Guyana Project Manager, Anthony Jackson said Thursday. The company had faced criticism several years ago when it was announced that a FEED contract was issued...
News

Stena Drilling’s Spey platform contracted by Ithaca Energy for UK offshore

OilNOW -
Stena Drilling announced that it signed a new Contract with Ithaca Energy (UK) Limited for Mobile Offshore Drilling Unit (MODU) Stena Spey. The Stena Spey is a Friede & Goldman L907 (enhanced Pacesetter) twin pontoon, column-stabilised, semi-submersible offshore drilling unit.  The...
News

Drill rig day rates to peak at $500k in 2023 – Westwood Energy

OilNOW -
Drill rigs are expected to have a busy year in 2023. So much so that Westwood Global Energy Group sees day rates shooting up to US$500,000. Last year, Westwood said day rates for new drillship fixtures jumped to US$359,852 from US$232,555...
Exploration

Wei-1 exploration to cost up to US$170 million – Frontera Energy

OilNOW -
Corentyne Block majority stakeholder, Frontera Energy, said the total cost of the Wei-1 well (including 2022 pre-drill costs and costs related to drilling delays) are forecast to be approximately US$160-$170 million. Frontera anticipates it will spend approximately US$120-$140 million on...
News

Fast4Ward concept revolutionised offshore projects – SBM Offshore CEO

OilNOW -
SBM Offshore’s Fast4Ward® concept is transforming the way offshore projects are developed.  “It really has changed the way we are doing projects in the industry,” said the company's Chief Executive Officer (CEO), Bruno Chabas, during the Naming Ceremony for the...
News

Value of Stabroek Block discoveries manifesting itself in country – Exxon CEO

OilNOW -
ExxonMobil’s Chairman and Chief Executive Officer (CEO) Darren Woods believes that the value created by its successes in Guyana are being manifested locally.  Addressing investors during the company’s recent Q4 Earnings Call, he stated “...the importance of that resource and...
News

Guyana House approves second national budget to be supported by oil revenues

OilNOW -
Guyana’s Finance Ministry announced Thursday that the Parliament has approved the GY$781.9 billion (US$3.75 billion) national budget for 2023. The approval follows two weeks of debates and hearings on various aspects of the budget. Minister of Finance, Dr. Ashni Singh...
1...290291292...997Page 291 of 997

Latest News

NewsOilNOW -

Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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.

Quick Access

Company Info

Social Networks