News

Guyana’s Maritime Administration Department (MARAD) issued a notice that ExxonMobil Guyana is continuing drilling operations at Fangtooth_2 within the Stabroek Block.  Fangtooth-1 unlocks new play; will ‘add significantly’ to 10-billion-barrel oil resource – Hess This further demonstrates the Exxon-led consortium’s prioritisation...

Trinidad and Tobago's economy got a favourable outlook from the International Monetary Fund (IMF) for 2023, seen as a positive sign that it is slowly recovering after years of struggling.  But its former Minister of Energy, Kevin Ramnarine disagrees. “The International...

Sarawak Shell Berhad, a subsidiary of Shell plc, has completed the sale of its non-operated interests in two offshore production sharing contracts (PSC) in the Baram Delta to Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP). Shell had a 40%...

While he acknowledges that there is a paucity of technical skills, Vice President, Dr. Bharrat Jagdeo said the country cannot wait until capacity is picture-perfect to develop the massive oil and gas resources in the Stabroek Block. The high-ranking...

Guyana’s new offshore model petroleum agreements have added a unitisation clause to treat with reservoirs that straddle multiple contract areas, or that straddle a contract area and an open area.  The clause dictates that a Contractor shall notify the Minister...

Chief Executive Officer of Hess Corporation, John Hess, said one exploration well will be drilled this year in Block 42 offshore Suriname.  Hess, Chevron and Shell, the operator, are equal stakeholders in the Block which lies north of Block 58,...

Trinidad and Tobago’s economy appears to be slowly on mend, according to the latest stats released by the International Monetary Fund (IMF).  The IMF’s country report for the twin-island republic said in 2022, its real gross domestic product (GDP) expanded...

Aker BP said the Frosk field development in the Alvheim area of Norway’s North Sea has been successfully completed and production has started on schedule and within budget. The completion comes 18 months after the Plan for Development and...

Halliburton - one of the world's largest providers of products and services to the energy industry - is preparing to tender for catering services in support of its activities in Guyana. In a public Expression of Interest (EOI), Halliburton outlined...

Though many countries have agreed to protect and monetise forest services, Vice President Dr. Bharrat Jagdeo recently lamented that few have stepped up to put real action behind their words. In fact, the chief policy maker for Guyana’s oil...