News

Venezuela has advanced five agreements with Shell to develop the 7-trillion-cubic-foot Loran gas field.  The agreements, signed on June 11, formalize Shell’s participation in Loran, a cross-border reservoir shared with Trinidad and Tobago, while also covering oilfield production expansion and...

ExxonMobil Guyana will continue deepwater development operations at the Uaru and Whiptail fields in the Stabroek Block, supported by anchor handling tug (AHT) and firefighting vessels, according to Notices to Mariners issued on June 11. The Maritime Administration Department said...

Mud plant expansion is leading Halliburton Guyana Inc.’s latest round of contracting opportunities, with the company opening multiple procurement exercises across infrastructure and equipment supply. The company published several Expressions of Interest (EOIs) through Guyana’s Local Content Register, covering projects...

Petrobras has signed an agreement with Equinor to acquire a 50% stake in the Itaimbezinho offshore exploration block in Brazil’s Campos Basin, strengthening an existing partnership in one of the country’s key oil-producing regions.  The deal, announced in a June...

ExxonMobil says the proposed production increase at the Yellowtail development offshore Guyana has the potential to maximize revenue for both the Guyana government and the Stabroek Block co-venturers.  “As you're aware, ExxonMobil Guyana Limited, as the operator, is always looking...

Guyana could receive more than US$10 billion annually from the Stabroek Block by 2030, according to ExxonMobil Guyana Limited Vice President and Business Services Manager John Colling, who cited projections from the International Monetary Fund during a press briefing...

The high-pressure piping fabricated in Guyana for ExxonMobil Guyana's Liza Unity floating production, storage, and offloading vessel (FPSO) forms part of one of the offshore industry's most technically demanding categories of work, according to SBM Offshore Guyana General Manager...

MODEC is working with Guyanese suppliers to strengthen their bids for offshore procurement opportunities as the company continues to expand its engagement with the Request for Information (RFI) process. The Centre for Local Business Development (CLBD) announced the initiative in...

Despite rising oil production and growing exports, U.S. officials have declined to provide a long-term timeline for the recovery of Venezuela’s oil sector, saying the focus remains on results rather than deadlines. The position was outlined by U.S. Assistant Secretary...

Venezuela’s state oil company Petróleos de Venezuela, S.A. (PDVSA) is expected to raise crude production to 1.37 million barrels per day (b/d) by December, according to S&P Global Commodities at Sea data and company guidance.  The analysis report published on...