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

OilNOW -
“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

OilNOW -
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

OilNOW -
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...
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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...
Exploration

Exxon moving forward with drilling operations at Tripletail-2, Fangtooth-1

OilNOW -
ExxonMobil is moving ahead with the search for more hydrocarbons offshore Guyana where it has already found approximately 10 billion barrels of oil equivalent resources since making its first world-class discovery in 2015 at the Liza field. The Noble Don...
News

China Railway Group to construct major hydropower project in Guyana

OilNOW -
China Railway Group Limited is set to construct the Amaila Falls Hydropower Project (AFHP) in Guyana after being granted a “no objection” by Cabinet. This was disclosed by Guyana’s Ministry of Finance on Monday evening. The ministry noted that China...
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Payara still leads ExxonMobil’s record-breaking ramp-up offshore Guyana

ExxonMobil’s Payara project continues to hold the record for the fastest production ramp-up among all oil developments in Guyana’s...

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