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SBM Offshore completes US$1.75 billion financing for Guyana’s biggest floater

OilNOW -
Builder of Guyana’s floating production, storage and offloading (FPSO) vessels, SBM Offshore, announced Thursday that it completed project financing for the ONE GUYANA vessel to be used for the Yellowtail project. The FPSO project costs US$1.75 billion; SBM Offshore said...
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Guyana deepwater projects becoming increasingly important, says Norway group

OilNOW -
A focus on short-cycle investments in subsea markets over the last few years has led to more subsea tiebacks and less greenfield hub development, shifting operator spending away from subsea equipment and towards subsea, umbilicals, risers and flowlines (SURF)....
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Exxon to meet with local suppliers on new opportunities in Guyana

OilNOW -
ExxonMobil Guyana will be hosting a Request For Information (RFI) clarification meeting on August 9, 2022, at the Marriott Hotel in Georgetown. The company plans to put in place an agreement for the provision of Integrated Office Facility Management Services. The...
Exploration

Guyana, Suriname can benefit from joint development of oil & gas resources – Staatsolie Head

OilNOW -
Staatsolie, Suriname’s state oil company, says there is real potential for cooperation between Guyana and Suriname, particularly with gas resource development. “Large resources and associated and non-associated gas have been discovered and both countries could benefit from jointly developing resources...
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Iconic Guyanese-owned Pegasus Hotel completes major expansion

Kemol King -
Guyanese businessman, Robert Badal, celebrated the grand opening for the US$100 million Pegasus Hotel Suites and Corporate Centre in Kingston, Georgetown on Wednesday evening. Guyana’s hospitality sector has benefited from major investment interest and injections. But this project is unique...
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Fifth floater for Brazil’s Buzios field on its way

OilNOW -
The fifth vessel for the Petrobras-operated Buzios Field has started its voyage from the MODEC shipyard in China to South American nation Brazil. Petrobras said that the floating, production, storage, and offloading (FPSO) platform ‘Almirante Barroso’ will carry out navigation...
Exploration

ExxonMobil to drill over 60 exploration wells offshore Guyana in six years

OilNOW -
After having made more than 30 discoveries offshore Guyana with a success rate close to 90%, ExxonMobil sees the potential for the Stabroek Block’s near 11 billion oil equivalent barrels to more than double. In addition, the company sees...
News

Large number of ships heading to South America, Caribbean with refined products

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(S&P Global Platts) A large fleet of refined product cargoes was en route July 19 to the southern part of South America to fill winter and harvest needs and to the Caribbean to fill summer tourist demand. Platts cFlow ship and...
News

China’s LNG imports to see unprecedented decline in 2022 – WoodMac

OilNOW -
China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it began LNG imports, says global research and consultancy group, Wood Mackenzie. After a solid growth in 2021, China’s...
News

Halliburton sees drilling demand lasting “multiple years” despite lower earnings in Q2

OilNOW -
Oilfield services provider Halliburton on Tuesday said it remains confident of years of increased drilling activity globally despite recording lower earnings in the second quarter of 2022. The company’s net income fell to US$102 million from US$263 million mainly due to the pre-tax...
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Latest News

NewsShikema Dey -

Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

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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