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Petronas to launch 257-day drilling campaign offshore Suriname in June

OilNOW -
Petronas will begin a 257-day, three-well drilling campaign in Suriname’s offshore Block 52 in June. The program details were disclosed in documents submitted to the country’s National Institute for Environment & Development (NIMOS), according to a report in Upstream...
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Guyana power grid upgrade gains steam ahead of Gas-to-Energy startup 

OilNOW -
One of the key substations that will transmit power from Guyana’s 300-megawatt (MW) Gas-to-Energy (GtE) project is nearing completion, well ahead of the project’s full commissioning. Minister within the Ministry of Public Works, Deodat Indar, on April 3 inspected...
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U.S. sees Suriname as investment hotspot amid oil boom and economic reforms

OilNOW -
“Suriname has significant untapped potential,” U.S. Ambassador to Suriname Robert J. Faucher said in a recent interview, emphasizing investment as a key area of engagement between the U.S. and Suriname. He highlighted the need for reforms to attract businesses,...
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Guyana signs US$422M transmission deal ahead of GtE project start-up  

OilNOW -
Months before the country’s Gas-to-Energy (GtE) project is set to deliver first power, Guyana has signed US$422 million in contracts. The firms awarded are Power China and Kalpataru Projects International Limited (KPIL). They are expected to complete the work...
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Engineering firms invited to design Halliburton’s Suriname bulk and mud plant

OilNOW -
Halliburton Guyana Inc. has issued a Request for Information (RFI) for engineering design services. The selected supplier will design a liquid mud and bulk plant for Halliburton Suriname. The scope includes full engineering for civil design, mechanical piping, and electrical...
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ExxonMobil projects US$900 million boost in Q1 earnings

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ExxonMobil expects a significant rise in first-quarter earnings, driven by higher crude oil and natural gas prices.  The company signaled in a Securities Exchange Commission (SEC) filing on April 3, published on its website, that these factors and stronger refining...
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Panama and Netherlands top destinations for Guyana’s crude in Q1 2025

Kemol King -
Panama and the Netherlands emerged as the top destinations for Guyana’s crude oil exports in the first quarter of 2025, each receiving 14 cargoes of approximately one million barrels.  This was derived using shipping data compiled from Guyana’s Maritime Administration...
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Guyana’s oil remains profitable despite falling global prices

OilNOW -
Goldman Sachs has slashed its oil price forecasts, citing rising OPEC+ supply and recession risks. Reuters reported on April 4 that Brent crude is now forecasted to average US$69 per barrel in 2024, down 5.5%, while WTI is projected...
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EAG Airport in Paramaribo inaugurated, strengthening regional connectivity

Işıl Güneş -
PARAMARIBO, SURINAME - The Eduard Alexander Gummels Airport (EAG) in Paramaribo, Suriname, was officially inaugurated on March 24, introducing new flight routes intended to enhance connectivity across the Guiana Shield. The airport will facilitate direct travel between Paramaribo, Georgetown...
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Guyana to engage U.S. partners on tariffs as gold, oil exports remain exempt

Kemol King -
If Guyana has its way in talks with the United States, recently announced tariffs on Guyanese exports would be reduced from 38% to 12%, OilNOW calculated.  Guyana’s Vice President Bharrat Jagdeo said on Thursday (April 3) that his government’s trade...
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Guyana’s offshore growth among drivers of US$197 billion regional oilfield spending – Rystad Energy

South America will sustain strong final investment decision (FID) momentum through 2030, leading to a cumulative US$197 billion in...

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