News

Subsea7 gets Gulf of Mexico tieback contract

Subsea7 announced the award of a sizable contract by Talos Energy for the Sunspear development in Green Canyon Block 78, in the Gulf of Mexico. The deal is valued in the range US$50-150 million. The project involves the subsea tie...

Whiptail project targeting close to one billion barrels of oil

The US$12.7 billion Whiptail development is targeting an estimated resource base of more than 850 million barrels of oil, Hess Corporation said. The project will utilize the Jaguar floating production, storage and offloading (FPSO) vessel, to be delivered by...

SBM Offshore hits another Guyana milestone with Jaguar FPSO award

ExxonMobil has awarded contracts to SBM Offshore to build and deploy the Jaguar floating production, storage and offloading (FPSO) vessel for the Whiptail development at Guyana’s Stabroek Block.  Under the terms of the agreement, ownership of the Jaguar vessel will...

Exxon greenlights US$12.7 billion Whiptail project in Guyana

Mega project to start-up in 2027 The final investment decision (FID) for ExxonMobil’s sixth Stabroek Block development, Whiptail, has been made, the company announced on Friday.  The project, after ramping up, will add 250,000 barrels of oil per day to Guyana...

Guyana oil fund closed first quarter with US$2.36 billion

Guyana's Natural Resource Fund closed the first quarter of 2024 with US$2.36 billion (approximately GY$492 billion), according to a March report from the Bank of Guyana. The Fund’s overall balance, in March, registered a negligible shift from the US$2.36 billion...

SBM Offshore seeking supplier for crew flight services between Guyana and Suriname

SBM Offshore's subsidiary, Guyana Deepwater Operations Incorporated (GDO), is seeking a supplier to provide flights between Guyana and Suriname to connect crew members with KLM International flights to Amsterdam, Netherlands. The scope of service outlines key areas including the provision...

Guyana government estimates ICJ ruling could come by end of 2025 – Jagdeo

The Guyana government estimates a ruling by the International Court of Justice (ICJ) could come by the end of 2025, in the case concerning the Arbitral Award of 3 October 1899 (Guyana v. Venezuela).  “The timeline… with Venezuela fully participating...

Guyana/Venezuela border controversy: Switzerland tells UN Security Council countries must abide by international law

Switzerland advocated for orders of the International Court of Justice (ICJ) to be respected, during a special April 9 meeting of the United Nations Security Council (UNSC) on the Guyana/Venezuela territorial controversy. According to the official X account (formerly Twitter)...

Early look into next week’s Local Content Summit agenda

The forthcoming Local Content Summit, slated for April 16, 2024, at the Pegasus Suites and Corporate Centre, is gearing up to be a watershed event in the discourse advancing Guyanese participation in the oil and gas sector. Under the...

Touchstone reports avg. net sales volumes of 7,015 boe/d in Q1 2024

Trinidad-focused energy company Touchstone Exploration reported average net sales volumes of 7,015 barrels of oil-equivalent per day (boe/d) in the first quarter of 2024.  It said Cascadura contributed average net sales volumes of 5,389 boe/d. This consists of net natural...

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Guyana charters 36 MW powership to meet increased power demand for next two years – GPL

State electricity company, Guyana Power and Light (GPL) has entered into a two-year contract with Urbacon Concessions Investments, W.L.L...