Sunday, May 29, 2022

News

Driller with most rigs offshore Guyana gets extension with advancement of Yellowtail

ExxonMobil’s sanctioning of Yellowtail - its biggest project to date offshore Guyana - has seen the extension of four Noble drillships through to 2025. US$10B Yellowtail Project set to unleash a tsunami of economic benefits On April 1 this year, the...

Drill campaign at Zanderij-1 offshore Suriname planned for third quarter

Planning is underway for an exploration campaign to be conducted at the Zanderij-1 prospect located at Block 42 offshore Suriname. The well, targeting both Campanian and Santonian aged reservoirs, will be spudded around the third quarter of this year. As...

New top 10 global oil producer to form in June when BHP, Woodside close merger

Shareholders of the Australian Woodside Petroleum voted to move forward with a merger with the BHP’s Petroleum business, BHP said in a note. Woodside said 98.66% of the votes submitted favoured the merged. “All conditions precedent necessary to implement the Merger...

City Chamber welcomes Rowley’s commitment to remove trade barriers

The Georgetown Chamber of Commerce and Industry (GCCI) has endorsed the Government of Guyana’s signing of a Memorandum of Understanding (MoU) with Trinidad and Tobago, following a public commitment to address the twin-island nation’s trade barriers against Guyana. In...

No need for Guyana, Trinidad to be at each other’s throats about local content laws – Rowley

Prime Minister of Trinidad and Tobago, Dr. Keith Rowley said there is no need for his government and Guyana’s to be at each other’s throats about Guyana’s new local content laws. “What the government of Trinidad and Tobago tried to...

New South American oil star arrived in the year prices collapsed

The price of oil fell to its lowest level in 11 years in 2015 as commodity markets responded to signs that the global glut of oil would have deepen the following year. While oil ministers from Qatar and Iraq...

Barreleye unearths new oil column

The new Barreleye-1 well, drilled in 3,840 feet of water, found roughly 230 feet of hydrocarbon-bearing sandstone reservoirs, 52 feet of which is high quality oil bearing. The well is located about 20 miles southeast of the original Liza...

US strategic petroleum reserves sink to 35-year-low

(Reuters) - The amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy showed. Stockpiles in the Strategic Petroleum Reserve (SPR) fell...

TechnipFMC developing pool of local companies to work by its side in Guyana

A major ExxonMobil contractor, TechnipFMC, is gradually building a pool of local companies that can support its work in Guyana, said Area Director for Guyana, Suriname and Trinidad, Nicolas Sicard. “Nowadays, we have a pool of nearly 70 Guyanese-owned companies...

Houston, wider East Bank morphing into major corridor of oil and gas development in Guyana – Bharrat

A new oil and gas corridor is quickly emerging in Guyana on the East Bank of Demerara where several oil field services companies have been setting up operations in recent years. “It seems as though Houston in Guyana is becoming like Houston in Texas;...

Latest News

Guyana receives GY$1.7B in payments for flaring from ExxonMobil

To date, ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) has flared 17.7B cubic feet of gas via...