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Delegation from U.S to discuss investment opportunities in South America’s newest oil producing nation

OilNOW -
Almost one month after U.S Secretary of State, Michael Pompeo, and Guyana’s President, Dr. Mohamed Irfaan Ali, signed a  Memorandum of Understanding (MoU)  on energy and infrastructure, a Government delegation from the U.S will be in Guyana to discuss...
News

ExxonMobil funds aerial monitoring system for Iwokrama rainforest

OilNOW -
The Iwokrama International Centre announced Monday that with funding from ExxonMobil Guyana it is now able to remotely monitor the Iwokrama forest using drone technology. The drone, which has communication capability, will help to significantly monitor areas of the forest...
News

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

OilNOW -
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

OilNOW -
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

OilNOW -
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....
News

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...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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