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UK investor still upbeat about Canje block prospects despite third non-commercial discovery

OilNOW -
Westmount Energy Limited, the UK investment company that is focused on giving international investors exposure to prime blocks in the Guyana-Suriname Basin said it remains upbeat about the highly prospective Canje block despite explorers hitting a third non-commercial discovery...
News

Ghana team begins analysis of Guyana’s draft Local Content Bill

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Guyana’s Attorney General and Minister of Legal Affairs, Mohabir Anil Nandlall S.C on Tuesday met with the Ghanaian delegation to share expertise and critically analyze Guyana’s draft Local Content Bill. At the meeting which took place at the AG’s Chambers...
News

Survival of small states on the line, says Ali at COP26

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“For us, it is a question of survival,” Guyana’s President, Dr. Mohamed Irfaan Ali said, of small, climate-vulnerable countries, in his address to the 26th Conference of Parties (COP26) on Climate Change in Glasgow, Scotland on Tuesday morning. The Head...
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CGX raises US$59 million for Guyana operations, remains hopeful of hitting pay at Kawa-1

OilNOW -
CGX Energy Inc. completed its rights offering on October 28, raising around US$59 million in support of its operations in Guyana where it is currently pursuing multiple projects, including a major exploration campaign on the Corentyne Block. “CGX intends to use...
News

Saudi net-zero emissions target may go beyond 2060

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(S&P Global Platts) Saudi Arabia's 2060 net-zero emission target may be derailed by "unforeseen circumstances" because achieving the target depends on a number of factors, including evolution of technology, the country's energy minister said Nov. 3. "Depending on what happens,...
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Guyana’s first local content institute to train over 1,000 persons per year

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Early next year, the Guyana government intends to establish its first National Training Institute that will focus on increasing the nation’s local content footprint in the oil sector. Noting this recently was Vice President, Dr. Bharrat Jagdeo. The former...
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Guyana working to secure up to US$2 billion insurance from Exxon for Yellowtail project

OilNOW -
Though there exists an “implicit” understanding that ExxonMobil Corporation would cover the shortfall of expenditure associated with any environmental damage its affiliate Esso Exploration and Production Guyana Limited (EEPGL) cannot handle for the respective Stabroek Block operations, the Guyana...
Exploration

Hess closing Guyana investments for 2021 at US$750 million; US$1 billion budgeted for 2022

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Hess Corporation, one of the co-venturers on the prolific Stabroek block, announced last week that it will close 2021 spending on its Guyana development at US$750M. Going into 2022, Hess’ Executive Vice President and Chief Financial Officer John Rielly said that...
News

GAICO Construction to plug over GY$5B into dry dock laydown & storage yard to support oil sector

OilNOW -
Gaico Construction, one of the leading local firms servicing the oil and gas sector, is already positioning itself to take advantage of the revenue-making opportunities to flow from the US$900M gas-to-energy project. By 2023, the company is poised to...
News

Prime Guyana oil blocks up for auction in 2022 – VP Jagdeo

OilNOW -
By the third quarter of 2022, the Government of Guyana is looking to auction some of its prime oil blocks to international oil companies (IOC). Announcing this news was the country’s Vice President Dr. Bharrat Jagdeo when he addressed...
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MODEC’s Guyana contract drives 1,327% surge in orders for 2025

Japan-based floating production specialist MODEC Inc. has reported strong results for the first nine months of 2025, driven by...

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