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Gas set to play increasingly important role in new energy mix, says TT Prime Minister

OilNOW -
As transition strategies begin to take shape around the world, it is becoming more evident that natural gas has a key role to play in helping countries and organizations achieve ambitious targets. Making this fundamental point recently was Prime...
News

Caribbean governments want to develop oil & gas resources as fast as possible

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Despite criticism by some groups in Guyana that the country is moving too quickly with the development of its vast hydrocarbon resources, the government there as well as authorities in other Caribbean territories have recognised that the window to...
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Hess increased stake in Kaieteur Block points to expectation of future discoveries – Rystad Energy

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Although the first and deepest well ever to be drilled in the Guyana-Suriname Basin on the Kaieteur Block failed to deliver commercial crude, upstream players on the acreage said the prospect yielded significant data. Tanager-1 reached a total depth of 7,633...
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Suriname production expected to hit 650,000 bpd by 2030

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Consultancy group Rystad Energy estimates that the five offshore discoveries made so far in Suriname hold cumulative recoverable resources of around 1.9 billion barrels of oil equivalent and anticipates production to come on stream by the end of decade,...
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World’s first Fast4Ward FPSO will soon set sail from Singapore for 80-day journey to Guyana

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The Liza Unity FPSO, the first oil production vessel to be built by SBM Offshore using its pioneering Fast4Ward® program, will soon depart the Keppel Shipyard in Singapore for Guyana where it will be spread moored at the ExxonMobil-operated...
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Guyana has moved from a handful of businesses to over 600 suppliers supporting offshore operations

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Guyanese businesses have been playing an increasing role in the offshore exploration and production activities with more services being provided directly from local suppliers now than what previously obtained following the 2015 Liza discovery. This is a direct result of...
News

Watch Dedication Ceremony for second Guyana-bound FPSO

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A Dedication Ceremony was held on Saturday, June 12, 2021, for the giant Liza Unity FPSO that will be developing around 600 million barrels of oil offshore Guyana as part of the Liza Phase 2 Development. https://www.youtube.com/watch?v=CZVUSNdOfKk  
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First Lady Arya Ali is ‘Godmother’ of Guyana’s 2nd oil production vessel

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First Lady of Guyana, Arya Ali, officially dedicated the Liza Unity Floating Production Storage and Offloading (FPSO) vessel at a ceremony held at the Cara Lodge Hotel on Saturday, June 12, in the country’s capital, Georgetown. The vessel is...
Exploration

“We didn’t realise the significant potential of Stabroek Block” – says Shell VP exploration

OilNOW -
Oil and gas exploration is risky business. Prior to the 2015 Liza discovery, all available data pointed to a high probability of not finding any commercial hydrocarbons offshore Guyana. The level of uncertainty was so high that U.S. oil...
News

Oil prices rise as demand improves

OilNOW -
(Reuters) Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent was up 85 cents, or 1.2%,...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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