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Economist says 220,000 bpd day project can propel Suriname to ‘developed’ status; urges careful planning

OilNOW -
Steven Debipersad, Head of the Economist Association of Suriname is urging the government to create a strategic plan to manage the incoming oil revenues after TotalEnergies' Final Investment Decision (FID) for the country’s first offshore oil development.  “This is a...
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TotalEnergies makes final investment decision for historic deepwater project offshore Suriname

OilNOW -
Suriname President Chandrikapersad Santokhi promised prosperity for Surinamese, and a principle of leaving no one behind, as the final investment decision was made for the first-ever offshore oil development at Block 58.  "Our policy, and this should apply to any...
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Hess clears FTC hurdle, CEO to focus on Guyana relations post-merger

OilNOW -
Hess Corporation announced the completion of the Federal Trade Commission (FTC) antitrust review of its merger with Chevron, satisfying a key condition for the transaction's closure.  In an announcement, Chief Executive Officer, John Hess, expressed optimism about the deal. “This...
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TotalEnergies to sign $10 billion deal for Suriname’s first offshore oil project 

OilNOW -
TotalEnergies is expected to make its final investment decision (FID) this week for Suriname’s first offshore oil and gas development, valued at over US$10 billion. This is according to four sources, a Sept. 30 Reuters report stated, pointing out...
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TT seals energy deal with Shell subsidiary for Block Modified U (c)

Shikema Dey -
Trinidad and Tobago's Ministry of Energy and Energy Industries (MEEI) has finalized a Production Sharing Contract (PSC) for Block Modified U(c) with BG International Limited (BGI), a subsidiary of Shell. The signing took place on 27th September 2024 at...
Guyana's Oil Ledger

Guyana crude output rebounds, closing August at 663,000 b/d

Kemol King -
After a July of shutdowns at the Liza field, crude oil production has returned to more than 600,000 barrels per day (b/d) in August.  The shutdowns for the connection of a natural gas pipeline lasted July 2-15 for Liza 2,...
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Guyana to place HFO plants in reserve, in favor of gas-fired power in 2025

OilNOW -
Guyana's Vice President, Bharrat Jagdeo, said during a September 26 press conference in Georgetown, that the government expects to place its heavy fuel oil (HFO) power plants in reserve in 2025.  This move is contingent upon the anticipated startup of...
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Phase 2 of Gas-to-Energy project can be done in two years – Jagdeo

OilNOW -
Guyana's Vice President Bharrat Jagdeo said Phase 2 of the Gas-to-Energy project can be completed in two years.  “We believe that is an outside limit,” he said during a press conference in Georgetown on September 26, following the publication...
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PXGEO 2 vessel to undertake major seismic surveys in Trinidad and Tobago waters

OilNOW -
The PXGEO 2 seismic vessel is set to execute a series of significant seismic surveys in Trinidad and Tobago’s waters, as part of three major projects initiated by the Government of the Republic of Trinidad and Tobago (GoRTT), the...
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Suriname’s first FPSO capable of producing 220,000 barrels per day – TotalEnergies CEO 

OilNOW -
The floating, production, storage and offloading vessel (FPSO) for Suriname’s first offshore development will be capable of producing 220,000 barrels per day (b/d), according to TotalEnergies Chief Executive Officer, Patrick Pouyanné.  The initial target was 200,000 b/d.  Pouyanne, at an energy...
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Oil nation set to make approx. US$288 million payout to households

Every household in South America’s newest oil producing nation, Guyana, will receive close to US$1,000 (GY$200,000) its President, Dr....

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