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Hydrocarbon output from UK’s continental shelf doomed to never surpass 2 million b/d again – Rystad Energy

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Hydrocarbon production on the United Kingdom’s continental shelf (UKCS) has dropped steadily since its peak at 4.3 million barrels of oil equivalent per day (boepd) in 1999, never exceeding 2 million boepd after 2010. Promising exploration results by Hurricane...
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Oceaneering bags BOP tethering services contract from Brazil’s Petrobras

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Oceaneering International Inc. announced Tuesday that it has been awarded a BOP tethering services contract offshore Brazil from Petrobras. The contract duration is one-year with the option to extend for an additional year. The scope of work includes data acquisition...
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Maka, Sapakara appraisal plans submitted as Suriname edges closer to offshore development

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The appraisal programmes for Suriname’s first two deepwater discoveries have been submitted to state oil company Staatsolie as the South American country looks to forge ahead with development of its offshore oil resources. Suriname’s first offshore discovery at the Maka...
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As OPEC looks to curb production Guyana’s output on course to swell in coming years

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By the time oil production in Guyana hits 340,000 barrels per day at the end of 2022, the Organization of the Petroleum Exporting Countries (OPEC) will be reassessing member states’ output after a new accord to cut production by...
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Guyana private sector, U.S government officials discuss investment and job creation opportunities

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A Private Sector Commission (PSC) team led by Chairman, Nicholas Deygoo-Boyer, on Tuesday met with representatives of several U.S Government agencies who were on a visit to Guyana to scope out investment opportunities. During the meeting, private sector partnerships were...
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40% of offshore investments from 2021 will be FPSOs, several orders expected for Guyana

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Norway-based Rystad Energy said in a new report it expects offshore investments to rebound from 2021 with 40% of spending linked to construction of new floating facilities. According to the Rystad Energy analysis, budgets will be cost-wary, and among Asian...
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U.S Development Bank looking to “move to action very quickly” on Guyana investments

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The historic six-agency delegation that was led by the U.S Development Bank on a visit to Guyana on Tuesday is looking to move ahead quickly in making investments, particularly in the area of large infrastructure projects in South America’s...
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Suriname delegation for Guyana visit today to further talks on cooperation on O&G, other opportunities

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Two months after the President of Guyana, Dr. Mohamed Irfaan Ali, and Surinamese President, Chandrikapersad Santokhi, met and agreed to cooperate in areas including oil and gas, a Ministerial delegation from Suriname including the Minister of Foreign Affairs, International...
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Guyana, Qatar to collaborate on oil and gas, portable military hospitals for pandemic fight

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Guyana’s President, Dr Mohamed Irfaan Ali, on Tuesday discussed several key areas of collaboration and cooperation with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, during a telephone conversation. According to a press release from the Office of...
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There must be a balance between safety and economic survival – Guyana President says as airports reopen

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International air travel has been restored in the new oil producing South American country of Guyana after several months of lockdown due to the global pandemic. The move by the new government to reopen the country’s two international airports...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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