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SBM Offshore project portfolio at record level with multiple Guyana FPSOs in play

OilNOW -
Dutch floater specialist SBM Offshore reported on Thursday an Underlying Directional revenue of US$2,317 million for 2021, an increase of 1% compared with 2020, mainly resulting from ramp-up of activities with five FPSOs under construction in 2021, the awarded...
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Guyana oil production to peak in 2035, continue up until 2050

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Guyana has not yet scratched the surface when it comes to output at its vast offshore oilfields now under development by U.S. oil major ExxonMobil. In fact, of the more than 10 billion barrels of oil equivalent discovered so...
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Spending structure for Guyana’s oil fund not unusual, says AMI expert

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The spending structure for Guyana’s Natural Resource Fund (NRF) which currently holds over US$600 million in oil revenue is not unusual says Co-Director of Americas Market Intelligence energy practice, Arthur Deakin. The government passed the NRF bill on December 29,...
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GY$20M set aside for establishment of Local Content Secretariat

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The Government of Guyana through the Ministry of Natural Resources has allocated and approved the sum of GY$20 million (US$100,000) to kick start the establishment of a Local Content Secretariat. This was announced by Minister of Natural Resources, Vickram...
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Explorers hoping to deliver pay at Kanuku Block this year

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The year started with two more discoveries at Stabroek Block by ExxonMobil and a significant announcement by CGX Energy at its Kawa-1 well on the Corentyne Block, marking a potential major discovery outside of the prolific Stabroek license. Following...
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2022 is critical year for Brazil to consolidate New Gas Market

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(S&P Global Platts) Brazil's natural gas industry received a significant push forward with approval of the country's New Gas Market, but it faces a critical year in 2022 to consolidate implementation of the regulatory regime and create the foundation...
Exploration

Kawa-1 elevates hope for shelf explorers in Guyana basin – Wood Mackenzie

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The recent announcement by CGX Energy Inc. and Frontera Energy Corporation of a discovery at the Kawa-1 well in the Corentyne Block elevates hope for shelf explorers in the Guyana basin says leading UK consultancy group, Wood Mackenzie. In an...
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Bayphase Ltd. wins contract to review FDP for Exxon’s US$9 billion Yellowtail project

OilNOW -
With the second-lowest bid totalling US$423,360, Bayphase Ltd. which is headquartered in the United Kingdom has successfully beaten more than 10 companies for the contract to review the Field Development Plan (FDP) for ExxonMobil's fourth project in Guyana, Yellowtail. This...
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Nine-member delegation of British investors looking to expand into Guyana

OilNOW -
Over the next four days, a nine-member British Trade Mission Delegation will be in Guyana scouting opportunities for investment in the country’s lucrative market. The British High Commission in a statement on Monday said that the potential investors are set...
Exploration

Suriname lining up with Guyana to advance deepwater development this year

OilNOW -
Suriname lies down-dip of the prolific reservoirs in neighbouring Guyana. The country has seen a gradual build-up of exploration activity since ExxonMobil’s first discovery across the border at Liza-1 in 2015. Majors such as Shell, ExxonMobil and TotalEnergies have farmed...
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Guyana’s Uaru and Whiptail projects on track for 2026 to 2027 start-up – Routledge

Alistair Routledge,  President of ExxonMobil Guyana says the company’s fifth and sixth developments — Uaru and Whiptail — are...

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