News

Tullow expects results for Beebei-Potaro well in third quarter of 2022

Tullow Oil said it expects drilling completion and results for the Beebei-Potaro well offshore Guyana in the third quarter of 2022. This was stated in its July trading statement and operational update, released on Wednesday. The Beebei-Potaro prospect is targeting...

VP to Guyana private sector: Improve financial standing to bridge funding gap

Access to finance has been a major deterrent to local businesses looking to service Guyana’s oil and gas sector. After all, the development cost for just one of ExxonMobil’s offshore projects overshadows Guyana’s annual budgets. Calls have mounted for the...

Leading the charge, Guyana to host regional solar alliance conference

Guyana received a four-person team from the International Solar Alliance last week in preparation for the Fourth Regional Meeting of the Latin American and Caribbean Region of the International Solar Alliance (ISA) to be held from August 3-5 in Georgetown. ISA member states use the...

US$200M more withdrawn from Guyana oil fund

Senior Finance Minister Dr Ashni Singh announced that Government has made its second draw down from the Natural Resource Fund in accordance with the Natural Resource Fund (NRF) Act 2021. The Minister indicated that pursuant to Section 16 of the...

World’s 2nd largest oil producer told to invest now in Guyana, or pay more later

A delegation from Saudi Arabia was told on Saturday that investing now in South America’s newest oil producing nation, Guyana, would be less expensive than even a year and a half down the road since the new petroleum hotspot...

Despite multiple discoveries, no timeline yet for first oil in Suriname

Suriname’s Block 58 has churned out five discoveries in total, but operator TotalEnergies E&P Suriname B.V. is yet to make a Final Investment Decision (FID). Government officials expressed hope during the recently held Suriname Energy, Oil and Gas Conference (SEOGS) that this...

Guyana plans to establish an international center for biodiversity research

As part of its landmark Low Carbon Development Strategy (LCDS), new oil producer Guyana plans to establish an international center for biodiversity research. The center will work with local and international partners, including the University of Guyana, to understand the...

Guyana’s rollout of solar power for 30,000 hinterland homes set for early 2023

Chief Executive Officer of the Guyana Energy Agency (GEA), Dr. Mahender Sharma, told Indigenous leaders on Tuesday the government will start rolling out a massive solar project for hinterland communities by early 2023. The initiative, announced over a year ago,...

T&T opens bid round; one nearshore, 10 onshore blocks up for grabs

Trinidad and Tobago’s prime onshore and nearshore oil blocks are up for grabs as the twin-island republic launched a fresh competitive bid round, running up to January 9, 2023. All interested bids must be submitted by that deadline. Information from T&T’s...

Exxon seeking multiple suppliers in Guyana as operations expand

ExxonMobil is on the hunt for multiple suppliers for a host of local services as its oil and gas operations in Guyana’s offshore Stabroek Block rapidly expands. Its Guyana affiliate, Esso Exploration and Production Guyana Limited (EEPGL), plans to put...

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Staatsolie, Suriname tax office launch three-year program to strengthen oil and gas oversight

Staatsolie Maatschappij Suriname N.V. and Suriname’s Tax Department have launched a three-year capacity-building program to strengthen tax and customs...