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Two-thirds of Guyana offshore development costs pumped into wells, subsea infrastructure – Routledge

OilNOW -
ExxonMobil’s projects in Guyana’s Stabroek Block carry hefty prices. Its fifth – Uaru – carries the highest thus far: US$12.683 billion, since it will be the biggest offshore development, rivalling neighbouring Brazil. These projects require massive floating, production, storage and offloading...
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SBM Offshore on track to meet FPSO delivery deadlines despite pandemic

OilNOW -
In an update on its new build activities, Dutch contractor SBM Offshore said it remains on track to deliver its floating production, storage and offloading (FPSO) vessels by agreed-upon deadlines. This is in spite of setbacks from the COVID-19 pandemic...
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Technology at core of Exxon’s deepwater operations in Guyana – Upstream President

OilNOW -
Technology is a major facet in oil and gas development and remains an integral part of ExxonMobil’s deepwater operations in Guyana’s offshore Stabroek Block. Liam Mallon, President, ExxonMobil Upstream Company attested to this during an exclusive interview with OilNOW. “…at the...
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Exxon impact studies cater for higher production at projects offshore Guyana

OilNOW -
ExxonMobil's projects offshore Guyana are guided by environmental impact assessments (EIA) which consider the potential impacts of oil production beyond the design capacity.  These EIAs form part of the pool of documents which are reviewed and approved by regulators, before...
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DOF Subsea snags US$19M contract for SURF project offshore Brazil

OilNOW -
DOF Subsea Brasil has secured a charter for its remotely operated vehicle (ROV) support vessel, Geoholm. DOF said that the 85.7-metre-long vessel and its ROV will be used for a 'major' subsea umbilical, riser, and flowline (SURF) project offshore Brazil.  The...
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Repsol made €4.251 billion profit in 2022, but still to offset losses from previous years

OilNOW -
Spanish multinational, Repsol, said it was able to obtain net income of €4.251 billion in 2022, of which close to 64% came from its international business (outside of Spain). However, the combined profits recorded in 2021 and 2022 (€6.75...
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Guyana’s Stabroek Block produced 11.5 million barrels of crude in January 2023

Kemol King -
ExxonMobil produced 11.5 million barrels of crude oil from the Stabroek Block’s Liza projects in January, marking a strong open to 2023. Production averaged 372,000 barrels per day (bpd), according to data from Guyana’s Petroleum Management Programme. The Liza Phase...
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Major IOCs throw in bids for Guyana offshore blocks

Shikema Dey -
Guyana’s first licensing round is causing quite a stir with high interest already expressed in the 14 blocks up for grabs. So much so that the government is mulling an extension of the April deadline for submissions to allow...
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Guyana President vows to hold those accountable for country’s suspension from EITI

Kemol King -
Following Guyana's suspension from the Extractive Industries Transparency Initiative (EITI), President Dr. Mohamed Irfaan Ali stated publicly that his government will expose the persons responsible for the delay in the preparation of the country's fourth EITI report for the...
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Guyana’s new model PSA to be finalised soon, will be made public – Bharrat

Shikema Dey -
The first draft of Guyana’s new model Production Sharing Agreement (PSA) is expected to be finalised in the coming week, said Minister of Natural Resources, Vickram Bharrat. The government had touted a February date for its release but that is...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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.

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