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BP hits first gas at Phase 2 of Block 61 development in Oman

OilNOW -
BP announced on Monday that production has begun from its Block 61 Phase 2 Ghazeer gas field in Oman, 33 months after the development was approved. The company said Ghazeer was initially expected to come into production in 2021. The...
Exploration

Guyana, Suriname entering high-stakes competition for development of deepwater resources

OilNOW -
Five years after Guyana’s first oil discovery and just weeks after production started last December, Suriname experienced a game-changer with its first offshore discovery at Maka Central-1. This was closely followed by two other discoveries – Sapakara West-1 and...
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Beneficial ownership of Guyana oil blocks will have to be disclosed to EITI

OilNOW -
Guyana, as an Extractive Industries Transparency Initiative (EITI) implementing country, is among the those mandated to comply with Requirement 2.5 of the EITI Standard 2019 which relates to full disclosure of beneficial ownership of companies, including those in oil...
Exploration

Petronas spuds first well offshore Suriname

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Malaysian oil and gas company Petronas has spudded its first well - Sloanea-1 - offshore Suriname at Block 52 where it has farm-down 50% of its interest to US oil major ExxonMobil. Denmark-based drilling rig operator Maersk Drilling is carrying out...
News

Another oil major moving to cut jobs

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Chevron Corp employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, Reuters said in a recent report. The No. 2 U.S. oil producer has begun...
News

Guyana, oil companies must work together – can’t be “us against them” – Energy Consultant

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An energy consultant is urging Guyana to create an investment environment that is built on the pillars of stability and security since this is the most effective way of attracting and keeping the big capital and expertise needed to...
News

Guyana must develop its multi-billion-barrel oil resources in narrow 20-year window

OilNOW -
New oil producer Guyana, with just one field under development so far and two additional projects approved, may have around 20 years remaining to bring to market the several billion barrels of oil equivalent resources found offshore to date....
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CLBD’s mentorship programme providing pathway for Guyanese companies to elevate standards

OilNOW -
Since the emergence of the oil and gas sector in Guyana, more local companies have been pursuing measures geared towards improving standards, efficiency, customer satisfaction and international recognition.  For such organizations looking to improve the quality of their products and...
News

92% of all U.S. Gulf of Mexico oil production shut-in as Hurricane Delta swirls towards coast

OilNOW -
(S&P Global) Nearly 92% of all US Gulf of Mexico oil production remained shut in as Hurricane Delta moved toward the Louisiana Coast, according to the most recent federal statistics released Oct. 9. But producers were already eyeing the return...
News

Guyana poised to drastically transform despite debates about the “best deal” – IDB Report

OilNOW -
Using a model of five developments being underway by 2025 offshore Guyana targeting an estimated 750,000 barrels of oil per day, the Inter-American Development Bank (IDB) says considering the sequencing of the projects, Guyana would ultimately accumulate around US$49...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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