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Advancing development of local content at forefront of SBM Offshore’s milestones in 2022

OilNOW -
SBM Offshore said it had another successful year in Guyana in 2022. In a video published on its Facebook page, the company said it achieved major milestones including the start-up of the Liza Unity floating production storage and offloading...
News

Will mangroves save Guyana from rising sea levels?

OilNOW -
By Ronald Taylor  With over 75% of its population living on the coastland of about 1.5 meters below sea level, Guyana continues to face the brunt of rising sea levels. The coastland holds significant value and is protected by sea...
News

Six Stabroek Block oil finds among the world’s 12 most valuable of 2022

OilNOW -
S&P Global has determined that six discoveries made in Guyana’s Stabroek Block, are among the 12 most valuable oil discoveries made in 2022. In descending order, these are Lau Lau-1, Seabob-1, Barreleye-1, Fangtooth-1, Kiru Kiru-1 and Sailfin-1. They were ranked...
News

Seismic tests, license awards, exploration on the cards for Suriname in 2023 – Staatsolie

OilNOW -
Suriname’s state energy company, Staatsolie, said offshore activity is being followed with great interest both locally and internationally. In 2023, the company expects there to be multi-block exploration, seismic tests, and new license awards. Suriname’s ongoing Demerara area competitive bid...
News

Petrobras Chair names interim CEO

OilNOW -
While the state oil producer of Brazil awaits the election and appointment of a substantive Chief Executive Officer (CEO), the Chairman of the Petrobras board of directors has nominated the Chief of Production Development Officer, João Henrique Rittershaussen, as...
News

Guyana economy now about US$17,000 per capita GDP

OilNOW -
Guyana’s gross domestic product (GDP) per capita is now around US$17,000 according to the country's Vice President, Dr. Bharrat Jagdeo. This is an increase from US$5,577 in 2015, the year oil was first discovered off the country's coast. This statistic...
News

Petrobras, CNOOC ink deal for Natural Gas Processing System in Santos Basin

OilNOW -
Petrobras said that it has signed an Integrated Natural Gas Processing System (SIP) contract with CNOOC Petroleum Brasil Ltda. (CNOOC) and, together with Petrogal Brasil, Repsol Sinopec Brasil and Shell Brasil – partners in the Santos Basin pre-salt offshore...
Exploration

‘Biodegradation risk’ could hamper some of Guyana’s offshore developments – S&P Global

OilNOW -
Although being the holder of the world’s 17th largest oil reserves with an exploration success rate that is more than double the global average, offshore operations in the Guyana basin still come with risks. In its latest assessment and...
News

Lengthy licensing rounds, delayed regulatory approvals bad for investment-African Energy Chamber

OilNOW -
Executive Chairman of the African Energy Chamber, NJ Ayuk, has said that delayed regulatory approvals and acreage licenses could be a serious setback for the petroleum industry. His comments were made in the context of a need for more investment...
News

Brazil’s new energy minister pushing expansion of refining sector

OilNOW -
(Reuters) - Brazil's new mines and energy minister Alexandre Silveira said on Monday that state-run oil company Petrobras would play a leading role in expanding the refining sector and stressed the importance of developing renewable resources. Petrobras would encourage other...
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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...

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