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...
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...
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...
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...
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...
S&P Global believes bid rounds in Guyana and Suriname will attract further investments that are needed to drive the development of a competitive global oil environment.
Given the trail of economic damage left by the COVID-19 pandemic and the Russia-Ukraine...
President of ExxonMobil Guyana, Alistair Routledge, believes that early capacity building investments are paying dividends as seen in the growth of local content numbers in the local oil and gas industry. The company said on Wednesday that more than...
Operator of the Kanuku block, Repsol, said it spent €560 million to acquire Asterion Energies, a Spanish company focused on renewable energy projects in Europe.
The transaction, which includes contingent payments of up to €20 million, goes toward fulfilling Repsol’s plan to reach...
By Scott B. MacDonald - OilNOW
Foreign direct investment (FDI) in the Caribbean has seen some lean years and some bountiful years. 2020 was a brutal year due to the Covid-19 pandemic; 2021 was much better, with FDI bouncing back...
The Inter-American Development Bank’s (IDB) latest review of Guyana’s affairs shows that the nation’s non-oil economy is projected to have “better-than-expected” growth for 2022. In its quarterly report published Tuesday, the IDB said the country's non-oil sector is estimated to...
