News

The South American country of Guyana has been striking oil in quick succession and building the capacity needed to manage the new industry in stride, with officers from the country’s standards bureau already carrying out monitoring activities on the...

High impact wells will continue to dominate global offshore exploration this year with mainly the big prospects being of significant interest to oil majors and larger National Oil Companies (NOC). The Guyana-Suriname Basin remains at the top of the...

When Dutch floater specialist SBM Offshore entered Guyana in 2016, the objective was made clear—to operate in a responsible manner, contribute to the country’s development, and ensure that local capacity is developed so that Guyanese can be at the...

With over 10 billion barrels of oil equivalent resources discovered at Guyana’s Stabroek Block since 2015, operator ExxonMobil has sanctioned around 560,000 barrels per day (bpd) so far and is set to add another 250,000 when its largest project...

During 2021, emissions trading schemes (ETS) around the world saw record-high carbon prices, with the highest seen in the EU and UK. However, GlobalData notes that prices worldwide are still inadequate to reduce emissions in line with the Paris...

By Ed Crooks - Vice-Chair, Americas, Wood Mackenzie Platforms coming on stream will take US deepwater output to a record high in 2022. But new entrants have been wary of moving into the region. When British cartographers mapped what was to...

Guyana’s development partner, the World Bank, has noted that the South American nation is locked in a “boom cycle” due to its oil resources and is therefore projected to achieve the highest Gross Domestic Product (GDP) growth rate in...

SBM Offshore in collaboration with the National Agricultural Research and Extension Institute (NAREI), on Tuesday officially launched the Annandale/Friendship Mangrove Restoration Project in Guyana. The project launch and stakeholders’ engagement was hosted at Tipperary Hall, Buxton, East Coast Demerara and...

TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension has an estimated duration of 100...

Guyana’s Private Sector Commission (PSC) said on Thursday that the country’s local content law does not violate the Revised Treaty of Chaguaramas, the central document which governs the establishment of the Caribbean Community (CARICOM). Members of the business service organisation...