Friday, December 2, 2022

News

Liza Phase 2 targeted for 2023; proposed natural gas project being discussed

The ExxonMobil Liza Phase 2 development project in Guyana could start as early as 2023, following the commencement of Phase 1 scheduled for mid-2020 which will bring first oil for the South American country. Discussions are also ongoing for a...

Smart start needed for oil production; not perfection – Regulatory Consultant

Guyana must think smart and utilize the little time it has available to create a robust regulatory framework, before commercial oil production begins in 2020, advises regulatory professional and risk consultant, Peter Wilkinson. He said based on the time remaining...

14 Guyanese to receive oil & gas training for jobs on multiple offshore projects

Fourteen Guyanese will soon be undergoing rigorous training in Trinidad and Tobago to acquire skills for the oil and gas industry, after which they will be deployed on a number of offshore projects. This initiative is the start of what...

SBM says work on development of FPSO for Liza project “progressing well”

SBM offshore, the company contracted by ExxonMobil to install, lease and operate a Floating Production, Storage and Offloading Vessel (FPSO) for the Liza project in Guyana, says work is progressing well on schedule. At the end of 2016, SBM Offshore...

OPEC forecast higher demand for its crude in 2018 due to rising global consumption.

(Reuters) - OPEC forecast higher demand for its crude in 2018 on Thursday due to rising global consumption, and pointed to signs of a stronger oil market that suggest an OPEC-led production cut is getting rid of price-sapping excess...

ExxonMobil looking forward to results from new drilling campaign at Turbot field

The ExxonMobil team in Guyana is said to be in high spirits as a new oil exploration campaign is set to begin at the Turbot-1 well located 107 nautical miles offshore the South American country. The US super-major has...

Transocean shares outlook for offshore drilling

(Market Realist) In its 2Q17 conference call, Transocean (RIG) shared its outlook for the offshore drilling market. The company’s view of the industry could also shed some light on the outlook for offshore peers (IYE) Seadrill (SDRL), Diamond Offshore (DO),...

Regulations on paper mean nothing if there is no leadership, will to enforce – Energy Specialist

A Guyanese Engineer with years of experience working in the United States Department of Energy says the leadership and will to enforce regulations will determine if Guyana is to avoid the misfortunes that have befallen many oil producing countries...

SBM adopts new approach to lower deepwater FPSO project costs

(Offshore) MONACO – SBM Offshore is progressing its Fast4Ward program for FPSOs, designed to make deepwater project returns more attractive at current oil prices. Oilfield developments in deeper water, with harsher conditions, require heavier installations on deck, despite space and...

“Very stiff penalties” for US oil companies involved in corruption – Ambassador

US oil companies operating around the world face stiff penalties if they are found to be involved in bribery and other corrupt practices, and according to US Ambassador to Guyana, Perry Holloway, this serves as a disincentive for them...

Latest News

Hess first oil company to enter three-quarter billion USD carbon credits deal with Guyana

Stabroek Block stakeholder, Hess Corporation, has committed to purchasing US$750 million in carbon credits from Guyana, kicking off a...