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With resources topping 17 billion boe, Guyana-Suriname Basin boosting Noble earnings

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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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US$1.8M IDB loan to push involvement of private sector in Gas-to-Energy project, other major initiatives

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The Ministry of Finance is in receipt of a US$1.8M loan from the Inter-American Development Bank (IDB), a portion of which will be used to push the involvement of the private sector in major projects such as the Gas-to-Energy...
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Business group in Guyana calls for removal of visa requirement to UK, as direct flights set to resume

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A key representative of businesses in Guyana - the Georgetown Chamber of Commerce and Industry (GCCI) - will be lobbying for the removal of the United Kingdom (UK) visa requirement as British Airways is set to resume direct flights...
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Frontera snags a modest US$13.5M net income in 2022 second quarter

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Frontera Energy Corporation disclosed on Wednesday morning that it recorded a net income or profit of US$13.5 million or US$0.14 per share in the second quarter of 2022. This is a significant drop when compared with a net income...
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World’s fastest-growing economy moves to slash transportation costs, travel time with US$115M IDB loan

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Guyana, the world’s fastest-growing economy, has received a US$115 million loan from the Inter-American Development Bank to improve the quality, accessibility, resilience, and safety conditions of transportation networks, thereby improving travel time. The project-specific objectives are to reduce the Golden...
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Guyana earns GY$60 billion in profit oil, royalties for July

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The latest monthly report on Guyana’s Natural Resource Fund (NRF) shows that the account earned GY$10.646 billion in royalties and GY$50.127 billion in profit oil. This totals approximately GY$60.773 billion (US$291.477 million). The Bank of Guyana report states that net...
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No approved, charted fishing grounds exist in dumping area for shore base dredging – MARAD

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Guyana’s Maritime Administration Department (MARAD) has been closely monitoring the dredging of the Demerara channel for the massive Port of Vreed-en-Hoop project amid concerns that the activity is disrupting the livelihood of local fishermen. Media reports claimed that the silt...
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Pipe coating contract for Yellowtail awarded to Shawcor

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Canadian oilfield service company, Shawcor Ltd. said its pipe coating division has been awarded a definitive contract by Saipem for ExxonMobil’s fourth Stabroek Block development – Yellowtail. A definitive contract ranges between CA$40 million - CA$50 million. Shawcor will be providing...
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House ratifies Guyana’s low carbon development strategy

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Following several months of technical work and extensive nationwide consultations, the National Assembly ratified Guyana’s new and expanded Low Carbon Development Strategy (LCDS) 2030 on Monday. LCDS 2030, an update to the one launched in 2009 by then President Bharrat...
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Transocean nets US$1.2 billion in drilling contracts for Brazil, Gulf of Mexico

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Transocean, the drilling company that was instrumental in making the giant Liza discovery, was contracted in August for drilling in Brazil and the Gulf of Mexico. The combined value of these contracts exceeds US$1.2 billion. The Swiss-based driller said the...
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QatarEnergy deepens presence in Suriname with stakes across six offshore blocks

QatarEnergy has expanded its exploration footprint in Suriname’s offshore basin to six blocks, following the signing of Production Sharing...

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