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Guyana commits US$1.6M to bolster regulatory oversight of oil and gas

OilNOW -
The Guyana government has utilised portions of a US$20 million World Bank loan to enhance operational efficiencies within the oil and gas sector. OilNOW understands that a two-year contract was granted this year to vLex Justis Limited, which is headquartered in the United Kingdom, to provide...
News

Guyana adds to 18.7 Bboe of newly discovered resources in 2022 – S&P Global

OilNOW -
By the end of November 2022, S&P Global said a total of 178 discoveries had been made globally from new-field wildcat (NFW) drilling. It said this saw a delivery of just over 18.7 billion barrels of oil equivalent (Bboe)...
News

QatarEnergy signs agreement to continue development of Al-Karkara and A-Structures oil fields

OilNOW -
QatarEnergy said it signed an agreement with Japan’s Qatar Petroleum Development Company (QPD) for the continued development and production of the Al-Karkara and A-Structures oil fields in the territorial waters of the State of Qatar. The five-year agreement commences on December 23, 2022, succeeding the...
News

SBM Offshore Graduate Engineers: A beacon of inspiration to young Guyanese

OilNOW -
Paula Ceres and Tanisha Selby were among a group of seven Guyanese graduate engineers who gained hands-on training by SBM Offshore on the Prosperity floating production, storage and offloading (FPSO) vessel. Now, the young women aim to inspire young girls...
News

Halliburton to construct Sperry Drilling Lab at Guyana base

OilNOW -
Halliburton has invited Expressions of Interest (EOIs) for design and construction services for Sperry Drilling services at its Eccles, East Bank Demerara base. The oilfield services provider says Sperry Drilling delivers superior performance to reduce time to first oil, enhance...
Exploration

Norwegian company confirms ‘largest discovery on the shelf’ for 2022

OilNOW -
Norway-based Vår Energi ASA has confirmed a discovery of gas in the Vår Energi operated 7122/9-1 T2 (Lupa) well in the Goliat area, Barents Sea. The company said on Friday that preliminary estimates of the size of the discovery are...
News

Guyana has raked in over US$1.1 billion in oil revenue so far this year

OilNOW -
As of November 30, Guyana received US$1.17 billion from oil sales and royalties so far this year, according to reports from the Central Bank. The sale of 10 lifts in the period, representing Guyana’s share of profit oil, returned US$1.015...
News

Egyptian firm among three vying to review upcoming Stabroek Block FDP

OilNOW -
Stratoil, an Egypt-based oilfield services company was among three that entered bids to evaluate the field development plan (FDP) for ExxonMobil’s fifth Stabroek Block project – Uaru. Bayphase Ltd. and De Godhyer & Mac Naughton were the other two. Bayphase had...
News

Petrobras hits first oil at Itapu field offshore Rio

OilNOW -
Brazil’s Petrobras has started production on its newest vessel – the P-71 at the Itapu field, located in the Santos Basin pre-salt area. Petrobras said that the floating production, storage and offloading (FPSO) vessel, docked 200 kilometres off the coast...
News

Guyana Appeals Court rejects another challenge to Hess, CNOOC Liza permit

OilNOW -
The Guyana Court of Appeal has ruled that Hess and CNOOC, the non-operating partners in the Stabroek Block, do not need separate environmental permits for the Liza Phase One project. The court on Wednesday found that the licence obtained by...
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Latest News

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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