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Exploration

CGX long overdue for works on offshore blocks, has not drilled in years – Jagdeo

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As Guyana forges ahead with the development of its offshore petroleum resources which exceed eight billion barrels of oil equivalent at the prolific Stabroek block, there are, and understandably so, a number of companies knocking on the government's door...
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“We were not negotiating a production agreement” – Jagdeo on Payara licence

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Guyana’s Vice President, Bharrat Jagdeo, on Friday sought to provide clarity over the difference between the Stabroek Production Sharing Agreement (PSA) and the Payara Production Licence in response to comments made by the country’s Opposition Leader, Joseph Harmon, in...
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TechnipFMC set to deliver massive subsea production system for Payara development

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Global oil and gas company, TechnipFMC, has been awarded a contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited, for delivery of the subsea system for the Payara development project. Payara, ExxonMobil’s 3rd development at the Stabroek Block, was...
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Location for gas to power project to be determined by year end, work to begin in 2021 – Bharrat

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The landing site for the pipeline and location where the infrastructure is to be set up for the gas to power project in Guyana will be finalized before the end of the year with work set to begin in...
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Payara approval will trigger massive demand for goods, services in Guyana – GOGEC

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The sanctioning of ExxonMobil’s third development at the Stabroek Block offshore Guyana on Wednesday has already triggered a flurry of activities by contractors who will be now be looking to move ahead with various aspects of the project, set...
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Consultations on new local content framework in Guyana set for this month

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The newly appointed Advisory Panel on Local Content in Guyana will begin reaching out to key stakeholders this month as work continues towards the development of legislation which the government says must ensure Guyanese are given a fair opportunity...
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Hess commits around US$1.8 billion for Payara development

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Hess Corporation, a 30 percent stakeholder in Guyana’s Stabroek Block, has committed around US$1.8 billion for the Payara development, representing its net share of development costs, excluding pre-sanction and FPSO purchase costs. The company said on Wednesday it looks forward...
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Contracts confirmed for giant Prosperity FPSO, SBM Offshore looking to execute some fabrication work in Guyana

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Dutch floater specialist, SBM Offshore, announced Thursday that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Payara development project located in the...
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US$9 billion Payara Development is largest investment in Guyana’s history

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The US$9 billion Payara Development targeting an estimated resource base of around 600 million oil-equivalent barrels is the largest investment in Guyana’s history, and combined with Liza 1 and 2, will push the country’s production to more than half...
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Payara approval captures critical weather window for field development

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The Guyana Government’s approval of the 220,000 barrels per day Payara Development Project on Wednesday was a critical step in ensuring that a window of opportunity to get the project going without further delays, was met.      Neil Chapman, Senior Vice President of...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...

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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