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Nigeria signs new PSCs to boost offshore production, improve investor confidence

OilNOW -
Nigerian National Petroleum Company (NNPC), the state energy firm, announced the signing of a series of Production Sharing Contractors (PSC) aimed at boosting offshore oil production. Fully termed agreements were signed off with renegotiated PSCs for five oil mining leases...
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ExxonMobil to pursue deepwater exploration off India coasts with state oil company

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The state oil company of India, Oil and Natural Gas Corporation (ONGC) has signed a Heads of Agreement (HoA) with ExxonMobil for deepwater exploration of the East and West coasts of the country. The HoA was signed by Shri...
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JV delivers first OPITO-approved training facility for Guyana’s oil and gas industry

OilNOW -
ODITC – a joint venture partnership between Orinduik Development Incorporated, Windsor Technologies and 3t EnerMech – is the first entity with approval to deliver OPITO-accredited training to the oil and gas industry in Guyana. The 3t EnerMech Guyana Training Centre of...
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Unbundling of contracts, shorter payment period now central focus of gov’t, private sector

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The Ministry of Natural Resources and the Private Sector Commission (PSC) indicated, following a meeting Tuesday, that they have aligned on matters related to local content and will move together to find resolutions. The meeting involved discussions about the unbundling of...
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Petrobras selling off interest in exploration assets in Brazil’s Potiguar Basin

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Brazil’s state-controlled Petrobras has started the process to sell 40% of its interest in two exploratory deep-water concessions in the Potiguar Basin on the coast of Rio Grande do Norte. The company currently has a 100% interest in these concessions and said it will...
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Guyana already shortlisting residents for new highland settlement

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Guyana’s Ministry of Housing and Water said the government has already started shortlisting persons for homes to be built at Silica City, the new highland urban settlement to be built in the oil producing country. On Wednesday, Minister within the...
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Exxon awards contract to Magseis Fairfield for geophysical work in Stabroek Block

OilNOW -
Oslo-listed marine seismic survey firm, Magseis Fairfield, has been awarded a contract by ExxonMobil Guyana to conduct geophysical work in the Stabroek Block. According to Magseis, the contract is for a “large Ocean Bottom Node (OBN) project”, to be conducted using its ZXPLR...
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Guyana barrels delivering over 11 million gallons of fuel per day

OilNOW -
A massive oil production ramp up off the coast of Guyana this year is seeing daily output at the Liza Destiny and Unity FPSOs reach record levels, delivering significant energy, and in turn revenue, for the country and the...
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GAICO expands dredge fleet in Guyana with US$2.5M acquisition

OilNOW -
Dredging the Guyana Demerara channel is becoming increasingly important as the country expects a ramp up in marine traffic due to oil and gas activities. And GAICO Construction and General Services Inc. is positioning itself to provide the needed service...
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Guyana Minister dispels claims government promised to renegotiate Exxon deal

OilNOW -
A Minister of Government in Guyana, Charles Ramson Jr., wrote a letter dispelling claims in one section of the local press that the People’s Progressive Party Civic (PPP/C) administration promised to renegotiate the Stabroek Block Production Sharing Agreement (PSA). The...
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More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

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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