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GCCI says ‘overwhelming’ number of infrastructure, other work being handled by foreign-owned companies

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Guyanese private sector body, the Georgetown Chamber of Commerce and Industry (GCCI) on Friday renewed its call for the government to table legislation covering local content but stressed for this to be done before the end of 2021. In a...
News

Former GDF officer hired by Bristow to deliver world-class service in Guyana

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Bristow Group Inc. has appointed Courtney Byrne as the Area Manager for its Guyana operations. In this position, Bristow said Byrne will work closely with its customers and across the company "to deliver world-class service as we grow the...
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Tails on existing wells can deliver big volumes at Guyana’s largest oil block

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Deeper potential for hydrocarbons in multiple zones offshore Guyana at the giant Stabroek Block will continue to come under the drilling bit this year and into 2022 as the search for more oil intensifies in the South American country....
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Access to finance a key hurdle for Guyanese companies looking to secure big contracts in oil & gas – Dr. Gaskin-Peters

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Several local companies which have acquired the necessary capabilities through training and obtained the relevant health and safety certifications are still facing a proverbial brick wall when trying to access oil sector contracts. The hurdle that now stands in...
News

Oil slips to $78 as OPEC+ gears up for potential ramp up in output

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(Reuters) - Oil fell to around $78 a barrel on Friday on the prospect that OPEC+ producers might step up a planned increase in output to ease supply concerns, although crude remained in sight of a three-year high reached...
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Guyana oil fields will produce around 1.4 million bpd in the medium term, says Norway group

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Oil major ExxonMobil has so far sanctioned development of about 560,000 bpd of oil production capacity off the coast of Guyana. The commissioned capacity is expected to grow to more than 900,000 bpd in the next five years then...
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Countries could make up to $82 billion a year by utilising gas instead of flaring it – GlobalData

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Gas flaring – the combustion of unwanted natural gas produced during oil recovery – is causing many oil-producing countries to lose up to $82 billion a year, priced at record spot prices in Europe in August 2021, according to...
News

Stabroek Block co-venturer CNOOC makes large oil discovery offshore China

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CNOOC Limited, a 25% stakeholder in Guyana’s Stabroek Block, announced on Thursday that it has made a large-sized oil discovery at the Kenli 10-2 oilfield located in Laizhou Bay Sag in Southern Bohai Bay at an average water depth...
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EITI reports growing commitment to beneficial ownership transparency

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The Extractive Industries Transparency Initiative (EITI) has observed a growing global commitment towards beneficial ownership transparency. The international watchdog said earlier this month that over 110 countries have now committed to the publication of beneficial ownership information for companies across...
Exploration

Disappointment at Suriname’s Block 58 as Keskesi fails to deliver commercial oil

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APA Corporation announced on Wednesday the results from appraisal drilling at Keskesi South-1 on Block 58 offshore Suriname. APA Suriname holds a 50% working interest in the block, with TotalEnergies, the operator, holding a 50% working interest. Keskesi South-1, drilled...
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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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