News

With a burgeoning petroleum industry, where over 8 billion barrels of oil equivalent resources have been discovered so far by U.S. oil major ExxonMobil, Guyana is inviting foreign investors to play a major role in the country’s transformation. President of...

The visit to Guyana by a six-agency delegation from the United States Government this week is a sign of the U.S’ commitment to the South American country’s prosperity. This is according to a statement from the U.S Embassy in...

Hydrocarbon production on the United Kingdom’s continental shelf (UKCS) has dropped steadily since its peak at 4.3 million barrels of oil equivalent per day (boepd) in 1999, never exceeding 2 million boepd after 2010. Promising exploration results by Hurricane...

Oceaneering International Inc. announced Tuesday that it has been awarded a BOP tethering services contract offshore Brazil from Petrobras. The contract duration is one-year with the option to extend for an additional year. The scope of work includes data acquisition...

The appraisal programmes for Suriname’s first two deepwater discoveries have been submitted to state oil company Staatsolie as the South American country looks to forge ahead with development of its offshore oil resources. Suriname’s first offshore discovery at the Maka...

By the time oil production in Guyana hits 340,000 barrels per day at the end of 2022, the Organization of the Petroleum Exporting Countries (OPEC) will be reassessing member states’ output after a new accord to cut production by...

A Private Sector Commission (PSC) team led by Chairman, Nicholas Deygoo-Boyer, on Tuesday met with representatives of several U.S Government agencies who were on a visit to Guyana to scope out investment opportunities. During the meeting, private sector partnerships were...

Norway-based Rystad Energy said in a new report it expects offshore investments to rebound from 2021 with 40% of spending linked to construction of new floating facilities. According to the Rystad Energy analysis, budgets will be cost-wary, and among Asian...

The historic six-agency delegation that was led by the U.S Development Bank on a visit to Guyana on Tuesday is looking to move ahead quickly in making investments, particularly in the area of large infrastructure projects in South America’s...

Two months after the President of Guyana, Dr. Mohamed Irfaan Ali, and Surinamese President, Chandrikapersad Santokhi, met and agreed to cooperate in areas including oil and gas, a Ministerial delegation from Suriname including the Minister of Foreign Affairs, International...