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Guyana to plug US$100M of oil revenue into hinterland diagnostic centres

OilNOW -
Guyana’s Vice President Dr. Bharrat Jagdeo said on Monday that US$100 million of revenues from the sale of Guyana’s crude will be used to build diagnostic centres for hinterland communities. He discussed the centers during the National Toshaos Conference, a...
News

Aker BP finds gas in Norwegian sea

OilNOW -
Aker BP said it found gas at the Storjo well in production license 261 in the Norwegian Sea. Aker gets greenlight to develop Frosk field, off Norway coast | OilNOW The discovery, near the Skarv field, encountered several geological formations. The...
News

Saudi investment minister promises ‘strong capabilities and assets’ in Guyana partnership

OilNOW -
Coined as a “historical moment for Guyana and Saudi Arabia”, the Deputy Minister for Investors Outreach of the Kingdom of Saudi Arabia, Badr Al Badr, says that his home country wants to build a development roadmap for the two...
News

Guyana’s growth forecast jumps 10 percentage points after months of high oil prices

OilNOW -
Guyana’s Senior Finance Minister, Dr. Ashni Singh, told a large delegation from Saudi Arabia on Saturday that government now projects the South American nation’s economy will grow 57.8% in 2022. The government had projected 47.5% growth in Budget 2022, but that was...
News

Aker gets greenlight to develop Frosk field, off Norway coast

OilNOW -
Aker BP and its partners have received approval from the Norwegian Ministry of Petroleum and Energy for its development and operation (PDO) plan for the Frosk field in the Norwegian North Sea. Located in the Alvheim area, the Frosk field...
Exploration

Yarrow-1 is Exxon’s next target offshore Guyana

OilNOW -
With nearly 11 billion barrels of oil equivalent discovered since 2015, ExxonMobil is looking to further increase these volumes at its largest deepwater license offshore Guyana. The US oil major is targeting a new prospect - Yarrow-1 – located approximately...
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Total recoverable oil worldwide sliding, Guyana barrels becoming more crucial

OilNOW -
Following publication of BP’s annual Statistical Review, each year Rystad Energy releases its own analysis of the global energy landscape to provide an independent, data-based comparison and evaluation. Continuing the trend from previous years, Rystad Energy’s 2022 review shows...
News

Seven NOCs from Middle East, Russia and Venezuela own half the world’s remaining resources

OilNOW -
Seven giant National Oil Companies (NOCs) can continue to produce at their current rates for another 40-60 years from existing resources, and even longer, if they convert some of what is currently considered contingent resource into commercial. This is...
News

Guyana now producing over 300,000 barrels of oil per day – Bharrat

OilNOW -
The start-up of Phase 2 of the Liza Development has pushed daily output in South America’s newest oil producing nation to above 300,000 barrels per day. The Liza Unity floating, production, storage, and offloading (FPSO) vessel arrived at the ExxonMobil-operated...
News

Tucker says ‘contract bundling’ runs counter to spirit and intent of local content law

OilNOW -
Months after local content targets were enshrined in new legislation, the Guyana government is looking to remove obstacles to achieving the Local Content Act’s purpose. In some instances, government considers the bundling of contracts to be one of those...
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TechnipFMC reports strong Q3 2025 results driven by subsea growth

TechnipFMC has delivered another solid quarter, reporting total revenue of US$2.65 billion for the third quarter of 2025. Net...

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