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CNOOC completes first carbon capture project for Chinese offshore oilfield

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China National Offshore Oil Corporation Limited (CNOOC) completed its first carbon capture and storage (CCS) project after 10 months of preparation, according to a report from Chinese state media. China Daily said the state-owned oil corporation’s project was designed to...
Exploration

CGX walks away from 1.1 million acres offshore Guyana, hedging all bets on Corentyne

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Given their inability to honour their work obligations, Frontera Energy Corporation and CGX Energy Inc. have reached an agreement with the Guyana Government to relinquish the Demerara and Berbice Blocks, amounting to a combined 1.1 million acres. The attention of...
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Liza Unity achieves pilot flare, new gas compression system for Liza Destiny – Exxon

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ExxonMobil Guyana announced Thursday that its second production vessel, the Liza Unity, achieved pilot flare after its gas compression and injection systems were safely commissioned in “half normal industry time”. ExxonMobil Guyana Production Manager, Mike Ryan dubbed the achievement “a...
Exploration

TotalEnergies secures Maersk rig for new Suriname well

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TotalEnergies E&P Suriname, operator of Block 58, has secured the Maersk Valiant to drill another well offshore Suriname in the third quarter. The driller said TotalEnergies exercised an option available to it, in a deal it has with Maersk, to add...
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“No liability, no debt to Guyana” – Exxon assures

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As at year-end 2021, ExxonMobil Guyana’s assets totaled $1.3 trillion, an increase of 30 percent over the previous year which the company says mostly reflects substantial incremental investments in the Stabroek Block. Significant sums have been invested by Exxon and...
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Exxon says Guyana will not be saddled with decommissioning costs for Stabroek Block projects

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ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL) is making it clear that Guyana will not be left to handle the decommissioning costs associated with the multibillion-dollar Stabroek Block projects. Decommissioning encompasses the safe dismantling of the project infrastructure at...
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Oil and gas is the only sector in Guyana with a carbon tax – Vice President

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Guyana’s Vice President, Dr. Bharrat Jagdeo says there are several reasons why the institution of a US$50 per tonne payment for flaring of carbon dioxide should not be dismissed as nominal. For one, it represents a move from no...
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Guyana wants oil companies to help it fight climate change – VP

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Pursuing the fulfillment of its Low Carbon Development Strategy (LCDS) up to 2030, the government wants involvement from all levels of society in its national sustainability plan, even oil companies. In promotion of this, the government and the Stabroek Block...
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Gov’t to fund Gas-to-Energy power plant; financing for NGL facility still to be determined

OilNOW -
The government of Guyana is drawing closer to the finalisation of arrangements for the landmark Gas-to-Energy project, particularly the onshore facilities it is responsible for building. Vice President Dr. Bharrat Jagdeo shared during a press conference on Wednesday that the...
News

Fuel giant BP to operate one of world’s largest renewables and green hydrogen hub

OilNOW -
BP announced on Wednesday that it will acquire 40.5% equity stake in the Asian Renewable Energy Hub (AREH), potentially the world’s largest renewables and green hydrogen hubs. The acquisition will make BP operator of the US$36 billion project. The green hydrogen hub...
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Ali: Fighting transnational crime vital, protecting sovereignty is Guyana’s business

Guyana's President, Dr. Irfaan Ali made it clear today that protecting his country's sovereignty remains a top priority. The...

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