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Guyana preparing to produce billions of barrels of crude as global supply capacity set to erode

OilNOW -
Paris based International Energy Agency (IEA) said in its Oil 2021 report that the industry's spare capacity supply cushion will slowly erode in the absence of fresh upstream investments, shrinking to its lowest since 2016. The growth in supply, IEA...
Exploration

Guyana discoveries redefining Caribbean region’s oil potential – Dr. Anthony Bryan

OilNOW -
With 18 discoveries offshore Guyana equating to nine billion barrels of recoverable oil resources, the record-making results of oil exploration in the South American country has resulted in the re-examination of the Caribbean region as an oil-rich area. This is...
News

Major milestone reached as topsides lifting campaign for Liza Unity FPSO completed

OilNOW -
The topsides lifting campaign for the Liza Unity FPSO was recently completed and a major project milestone was achieved. Dutch floater specialist, SBM Offshore said on Tuesday thanks to the efforts of the integrated team, over 26,000 tons of topsides...
News

Orinduik block licence renewed, explorers gunning for light sweet oil prospects

OilNOW -
The joint venture partners at Guyana’s Orinduik Block have successfully entered into the First Renewal Period of the Orinduik Petroleum Prospecting Licence initially signed on January 14, 2016 with the Government of Guyana with the associated notice having now...
News

Guyanese businesses can now acquire API world-class certification through CLBD

OilNOW -
The Centre for Local Business Development has signed a Memorandum of Understanding (MoU) with the American Petroleum Institute, paving the way for ISO 9001 certified companies in Guyana to expand their training and acquire certification for the manufacturing of...
News

Guyana drilling operations being closely watched, success welcomed across industry

OilNOW -
After a year of significantly reduced activity in oil and gas operations, production shut-ins and a major decline in investments brought on by the pandemic, deepwater success in places such as Guyana will provide its own shot in the...
News

Stabroek block co-venturer CNOOC begins production at Chinese oilfield

OilNOW -
CNOOC Limited announced on Monday that Caofeidian 6-4 oilfield has commenced production. Caofeidian 6-4 oilfield is located in the Midwest of Bohai, with average water depth of about 20 meters. “In addition to fully utilizing the existing processing facilities of Nanpu 35-2...
News

PEMEX discovers billion-barrel oil field in Mexico

OilNOW -
(Bloomberg) --Petroleos Mexicanos (PEMEX) discovered what’s expected to be a billion-barrel oil field in Tabasco as it aims to reverse a decade and a half of sinking production. The new field at the southern part of the Gulf of Mexico,...
News

Oil production will soon exceed 1 barrel per day for every Guyanese in-country

OilNOW -
Guyana’s move towards becoming one of the top oil producers in the western hemisphere is likely to be realized even before the decade comes to an end as plans to develop its multi-billion-barrel oil fields move full steam ahead....
News

Total-Apache FID for Suriname Block 58 expected this year – analyst

OilNOW -
Total and Apache are expected to make their Final Investment Decision (FID) to develop oil fields at Block 58 offshore Suriname later this year in what experts say could be the second fastest ramp up in oil production activities...
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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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