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Guyana will need 160,000 more workers to sustain its oil-driven economic growth – Migration Policy Institute

OilNOW -
Guyana’s economy grew 43.5% in 2020. Government expects that it will grow 57.8% in 2022. This growth requires a labour force that can meet the needs of an emerging economy. The Migration Policy Institute estimated that Guyana will need at...
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Westwood says CGX’s Wei-1 is a ‘large, high-impact’ prospect

OilNOW -
London-based energy intelligence firm, Westwood Global Energy, called Wei-1 a ‘large, high-impact’ prospect and a ‘key well to watch’ ahead of expected exploration drilling offshore Guyana in October by CGX Energy Inc. “Final preparations are underway in advance of spudding...
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Long term viability critical to any decision on oil refinery for Guyana – Norway group

OilNOW -
With many revenue-earning avenues available to Guyana in the oil and gas industry, Norway’s Rystad Energy is urging the nation to make sober decisions, considering all factors before investing billions into any project. Senior Vice President and Head of Latin...
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ISA wants Caribbean to establish solar technology centres

OilNOW -
As the use of solar energy expands in the Caribbean, the Director General of the International Solar Alliance (ISA) Dr. Ajay Mathur says that the global union has hopes of establishing Solar Technology and Application Resource Centers (STAR-C) across...
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Independent board wants impact study done for Exxon’s largest proposed multi-block campaign

Shikema Dey -
ExxonMobil is now required to conduct a second Environmental Impact Assessment (EIA) study, this time for the proposed 24-well campaign in the Canje and Kaieteur Blocks. The first required EIA relates to Exxon’s massive proposed 35-well campaign in the Stabroek Block. The Environmental Protection Agency...
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Fire aboard Equinor FPSO quickly contained at Norway shipyard

OilNOW -
A fire that occurred on the Johan Castberg floating production, storage and offloading (FPSO) vessel, Johan Castberg was contained shortly after being identified on Thursday, according to a Reuters report. A company spokesperson told Reuters the vessel suffered only minor...
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CGX unlikely to deliver Berbice Deepwater Port on time

OilNOW -
“Certain delays” have forced CGX Energy Inc. to push back the operationalisation of the massive Berbice Deepwater Port even as the Guyana government expresses concerns of the timeline of completion. “As a result of certain delays, the Company believes it...
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With focus on Guyana, Frontera increases full-year CAPEX guidance to US$495M

OilNOW -
Consistent with its increased working interest in the Corentyne block in Guyana, as previously announced on July 22, 2022, and reflective of the spending commitment at the upcoming Wei-1 exploration well, Frontera Energy Corporation has increased its total capital...
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Petrobras shifting focus to deepwater assets, selling off shares in shallow & onshore clusters

OilNOW -
Brazil’s state-owned Petrobras has finalised the sale of all its stakes in the Fazenda Belém and Icapuí onshore fields – also called the Fazenda Belém Cluster – to 3R Fazenda Belém S.A., an oil and gas company with focus...
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With resources topping 17 billion boe, Guyana-Suriname Basin boosting Noble earnings

OilNOW -
Contract drilling services revenue earned by Noble Corporation for the second quarter of 2022 totalled US$262 million compared to $195 million in the first quarter, it reported Monday. Noble said marketed fleet utilisation was 85% in the three months ended...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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