Friday, January 21, 2022

News

Guyanese inspectors will begin testing crude produced offshore from this month

The South American country of Guyana has been striking oil in quick succession and building the capacity needed to manage the new industry in stride, with officers from the country’s standards bureau already carrying out monitoring activities on the...

So far only Stabroek has delivered the goods…what’s next?

High impact wells will continue to dominate global offshore exploration this year with mainly the big prospects being of significant interest to oil majors and larger National Oil Companies (NOC). The Guyana-Suriname Basin remains at the top of the...

Builder of Guyana FPSOs has kept its promise, says Human Resource Manager

When Dutch floater specialist SBM Offshore entered Guyana in 2016, the objective was made clear—to operate in a responsible manner, contribute to the country’s development, and ensure that local capacity is developed so that Guyanese can be at the...

Exxon has sanctioned development of about 560,000 bpd so far in Guyana

With over 10 billion barrels of oil equivalent resources discovered at Guyana’s Stabroek Block since 2015, operator ExxonMobil has sanctioned around 560,000 barrels per day (bpd) so far and is set to add another 250,000 when its largest project...

Natural gas shortage drove steep increase in carbon prices in 2021, says GlobalData

During 2021, emissions trading schemes (ETS) around the world saw record-high carbon prices, with the highest seen in the EU and UK. However, GlobalData notes that prices worldwide are still inadequate to reduce emissions in line with the Paris...

US Gulf of Mexico to hit new production record this year

By Ed Crooks - Vice-Chair, Americas, Wood Mackenzie Platforms coming on stream will take US deepwater output to a record high in 2022. But new entrants have been wary of moving into the region. When British cartographers mapped what was to...

Oil locks Guyana in “boom cycle”; forecast to achieve world’s highest GDP growth rate

Guyana’s development partner, the World Bank, has noted that the South American nation is locked in a “boom cycle” due to its oil resources and is therefore projected to achieve the highest Gross Domestic Product (GDP) growth rate in...

SBM Offshore launches mangrove restoration project in Guyana

SBM Offshore in collaboration with the National Agricultural Research and Extension Institute (NAREI), on Tuesday officially launched the Annandale/Friendship Mangrove Restoration Project in Guyana. The project launch and stakeholders’ engagement was hosted at Tipperary Hall, Buxton, East Coast Demerara and...

Maersk Drilling awarded one-well extension for Suriname campaign

TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension has an estimated duration of 100...

Guyana Private Sector Commission says local content law not in violation of regional Treaty

Guyana’s Private Sector Commission (PSC) said on Thursday that the country’s local content law does not violate the Revised Treaty of Chaguaramas, the central document which governs the establishment of the Caribbean Community (CARICOM). Members of the business service organisation...

Latest News

Tristar appoints Joel Bhagwandin as Managing Director, says local content is key focus

Tristar has appointed Joel Bhagwandin as its Managing Director. The company said Mr. Bhagwandin, who has held positions in...