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Payara investment is twice Guyana’s GDP, country must profit from closing window of O&G opportunities – VP Jagdeo

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo, said on Friday the country is not in a position to raise the US$9 billion on its own that is required for the Payara development hence the need for investors, and further, moving...
Exploration

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

OilNOW -
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...
News

“We were not negotiating a production agreement” – Jagdeo on Payara licence

OilNOW -
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...
News

TechnipFMC set to deliver massive subsea production system for Payara development

OilNOW -
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...
News

Location for gas to power project to be determined by year end, work to begin in 2021 – Bharrat

OilNOW -
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...
News

Payara approval will trigger massive demand for goods, services in Guyana – GOGEC

OilNOW -
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...
News

Consultations on new local content framework in Guyana set for this month

OilNOW -
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...
News

Hess commits around US$1.8 billion for Payara development

OilNOW -
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...
News

Contracts confirmed for giant Prosperity FPSO, SBM Offshore looking to execute some fabrication work in Guyana

OilNOW -
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...
News

US$9 billion Payara Development is largest investment in Guyana’s history

OilNOW -
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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GCCI aiming to push MSMEs toward global competitiveness at 2025 Business Development Forum

The Georgetown Chamber of Commerce and Industry (GCCI) will host its annual Business Development Forum (BDF) on November 13...

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