News

A signing bonus of US$17 million will be paid to Guyana for the S7 Block, awarded to Ghana’s Cybele Energy Ltd, exceeding the ceiling set for shallow-water assets by US$7 million. This detail was shared today as the company’s Chief...

Cybele Energy Ltd, a Ghana-based, female-owned oil and gas company, is the latest independent entrant into Guyana’s burgeoning offshore energy sector.  Founded in 2012, the company has grown from a small exploration startup into a diversified energy firm, according to...

Chevron Corporation’s newly announced 2026 capital program puts fresh emphasis on Guyana, underscoring the company’s deepening stake in one of the world’s most prolific oil basins, following its acquisition of Hess Corporation. The company unveiled an organic capex range of...

Guyana’s Environmental Protection Agency (EPA) is preparing to introduce live surveillance of offshore drilling, a step the agency believes will transform how it monitors high-risk petroleum activities.  The update came during the latest edition of Starting Point, The Oil and...

Westwood Global Energy Group is warning that the collapse in companies drilling high-impact (HI) exploration wells is constraining the industry’s ability to boost future supply.  The latest insight by Christine Shearman, Farmouts Research Manager – Global E&A, outlined how the...

PARAMARIBO, SURINAME – Suriname’s long-discussed gas-to-shore ambitions are gaining new momentum following PETRONAS’ recent declaration of commerciality for the Sloanea field in Block 52. The Sloanea-1 discovery, drilled in 2020, is now confirmed as a commercially viable gas field following...

Ghana-based Cybele Energy Limited is set to sign a petroleum agreement on Tuesday, December 9, to explore for oil and gas offshore Guyana. This will be the second block awarded from the country’s first competitive offshore auction. The ceremony will...

Guyana’s crude exports in November showed a broad spread of destinations, with rare buyers in Asia taking barrels displaced by an increasingly saturated European market, according to data from the Maritime Administration Department (MARAD) and vessel-tracking platforms. A total of...

Petronas is stepping into Guyana’s offshore sector, with a long history of oil and gas development. The Malaysian state-owned company was created in 1974 and grew into one of the world’s foremost integrated energy producers. It explores, drills, refines,...

Eco (Atlantic) Oil & Gas said on Thursday that Israel’s Navitas Petroleum has agreed to pay up to US$8.5 million for options to farm-in to offshore licenses in Guyana and South Africa, in a deal that could see Navitas...