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New solar projects for Guyana as US$83.3M deal signed with IDB

OilNOW -
New oil producer Guyana continues to advance steps towards greener energy sources. Senior Finance Minister, Dr. Ashni Singh on Tuesday signed a US$83.3 million agreement with the Inter-American Development Bank (IDB) to fund eight utility-scale photovoltaic solar projects totalling 33 megawatt-peak...
News

Stabroek Block production averaged 372,000 bpd in first half of August

OilNOW -
Recently updated information from Guyana’s Petroleum Management Programme shows Stabroek Block oil production averaging 372,000 barrels per day (bpd) for the period August 1-15, 2022. Production in this period reached its lowest on August 4 with just over 245,000 bpd,...
News

Guyana will need robust commercial framework to maximise gas export benefits – Norway firm

OilNOW -
With Guyana’s current estimated recoverable gas totalling over 17 trillion standard cubic feet, the government has already commenced efforts to determine the best use for these resources. The government reminded, in its 2022 mid-year report, that under the Yellowtail...
News

Budget 2022 has kept Guyana out of Dutch Disease pathway – Financial Analyst

OilNOW -
Given that Guyana’s 2022 Budget prioritises spending on capital projects as opposed to rapid increases in recurrent expenditure, financial analyst and researcher, Joel Bhagwandin says this is a clear indication that the country is making decisive efforts to steer clear of the Dutch...
Exploration

Exxon targeting Sailfin, Banjo wells as hunt for more oil in Stabroek Block continues

OilNOW -
Pursuing an aggressive drill campaign, Stabroek Block operator – ExxonMobil – has moved on to the Banjo-1 and Sailfin-1 wells as it looks to find more oil offshore Guyana. According to notices published by Guyana’s Maritime Administration (MARAD) over the...
News

Guyana says its energy use can increase fivefold by 2030 while emissions stay at 2018 levels

OilNOW -
Guyana’s infrastructure boom will see urban settlements undergoing significant expansion over the years. But what does this mean for the country’s carbon footprint? According to the government’s transition plan, outlined in the Low Carbon Development Strategy (LCDS) 2030, Guyana’s energy...
News

All oil companies should be at forefront of making positive impacts in Guyana, says Hess

OilNOW -
CEO of Hess Corporation, John Hess, says his company is determined to play a lead role in fostering positive social development in Guyana. Speaking at a forum last week, he pointed out that all oil companies operating in the...
News

Petrobras backtracks on sale of deepwater field

OilNOW -
Brazil’s state-owned Petrobras decided to end the divestment process for a sale of its entire stake in a Brazilian deepwater field - Albacora concession - to PRIO, formerly PetroRio, as both parties have failed to come to an amicable...
News

‘Perfect storm’ could see Europe facing rolling blackouts as gas supply dwindles – Rystad Energy

OilNOW -
With tensions remaining high with its European neighbours, Russia has halted all gas exports through Nord Stream 1, the gas pipeline that supports the continent, for an indefinite period. While Russia exported close to 350 million cubic meters per day...
News

Maersk drillship contract with Shell extended for works in US Gulf of Mexico

OilNOW -
Maersk Drilling has secured a contract extension with Shell for a 7th generation drillship, to carry out additional drilling services in the United States Gulf of Mexico once it concludes current works. Maersk said the contract extension is expected to...
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Stories Beyond the BarrelShikema Dey -

The rise of Expro’s first Guyanese Field Service Supervisor, Norman Chapman 

When Norman Chapman joined Expro Guyana in 2018, then known as Frank’s International, he was one of just five...

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