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Need for realistic local content targets form key part of discussions as Guyana prepares framework

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Section seven of Guyana’s draft revised Local Content Policy Document that is currently under consultation falls under the title, ‘Minimum Local Content in Goods and Services’ and sets out mandatory local content targets for companies in the oil and...
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Study points to 32 prospects offshore Guyana with huge potential

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The results of an independent prospective resource study completed last year has provided enough evidence to support views that the Corentyne and Demerara blocks are highly prospective. Making this disclosure was Frontera Energy Corporation in its latest operational update...
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Stena rig gunning for oil offshore Suriname to adopt Managed Pressure Drilling system

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Since the advent of Ultra Deepwater Drilling units, with water depths in excess of 7,500ft, the risks and hazards of operating in such environments have provided new challenges to operate safely and efficiently. With advances in technology, the exploration...
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Stabroek block subsea systems provider creates twin companies

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TechnipFMC announced on Monday the completion of its spin-off transaction to create two industry leading, independent, publicly traded companies, TechnipFMC and Technip Energies. In connection with the separation, the Technip Energies technical reference price was set at €9.00 ahead of...
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Energy transition to drive refinery, petrochemicals integration – WoodMac

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2020 was a difficult year for the world’s refineries as the coronavirus pandemic reduced refinery utilisation and OPEC+ supply restraint narrowed crude price differentials. Despite this, integrated refinery and petrochemical sites significantly outperformed their fuels-only peers, according to Wood...
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Mechanical rework of Liza Destiny gas compressor underway

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ExxonMobil Guyana said on Tuesday technical experts in Germany continue to assess operating data and inspection findings in order to define the required scope of repairs to the compressor and silencer. This process also includes consideration of technical recommendations...
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Operators must tell local businesses about upcoming opportunities, President says

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The Guyana Government is seeking to make it a policy that oil and gas operators have to provide advance notice to local businesses in relation to upcoming opportunities to provide goods and services to the industry. While the over 2700...
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Capacity on the ground, banking system challenges among points raised at opening of local content consultations

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During the first leg of consultations held on Monday on Guyana’s draft Local Content Policy, the discourse, which was facilitated by President, Dr. Irfaan Ali, at the Arthur Chung Conference Centre on the outskirts of Georgetown, saw commentary from...
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Accountability, realistic targets must be hallmarks of Guyana’s local content policy – President Ali

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During Monday's launch of the first round of consultations on Guyana's draft Local Content Policy, President Irfaan Ali categorically stated that the final document must be one with a difference. The Head of State, who led the discussions at...
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Why hasn’t Guyana spent a dollar of its now over US$200 million in oil revenue?

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Since oil exports began in Guyana in January 2020, the government has exported approximately 5 million barrels of oil – 4 last year and its first cargo for 2021 just two weeks ago – representing the country's share of...
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Ali: Fighting transnational crime vital, protecting sovereignty is Guyana’s business

Guyana's President, Dr. Irfaan Ali made it clear today that protecting his country's sovereignty remains a top priority. The...

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