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Brazil leads globally in FPSO deployments

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Brazil continues to drive global floating production storage and offloading vessels (FPSOs) deployment with 21 planned and announced FPSOs during the period 2019 to 2025, according to GlobalData. Brazil is expected to deploy a total of 11 planned and ten...
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Shared vision for oil money will open pathway to prosperity

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With just over 750,000 people, Guyana – South America’s newest petroleum hotspot – will begin producing oil within months and with over 6 billion barrels already discovered, revenue from production could profoundly transform the small nation. But the country...
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Exhibition space rapidly running out as companies get onboard for GIPEX 2019

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Interest from companies continue to grow as the staging of the second largest petroleum conference in South America's newest oil and gas hotspot nears. At a press conference held on Friday, October 25 to announce the upcoming event, Managing Director...
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Brazil set to be major contributor to non-OPEC oil production in 2020s

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Brazil’s oil production has seemingly found its groove, with Rystad Energy expecting the country to be a sizable contributor to non-OPEC, non-US growth throughout the 2020s. Rystad Energy said seven new FPSO projects have come under the spotlight, beginning at...
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Siemens expects oil, gas revenues in Brazil to double in 2020 from 2018

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(Reuters) - Germany’s Siemens expects revenue from its oil and gas division in Brazil in 2020 to double compared to 2018 levels, an executive said on Thursday, citing upcoming oil auctions that could total around $26 billion. The company does...
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Orinduik partners reviewing drilling strategy, budget plan for 2020 campaign

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Eco Atlantic, together with its JV Partners on the Orinduik Block, Tullow Guyana B.V. (Operator, 60% Working Interest) and Total E&P Guyana B.V. (25% WI) are currently reviewing a post discovery drilling strategy and supplemental budget, for which Eco...
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China’s CNOOC third-quarter capital spending surges 28%

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CNOOC Ltd, the listed arm of China’s largest offshore oil and gas producer, on Thursday reported a 27.9% jump in capital spending in the third quarter amid Beijing’s push to boost oil and gas exploration and production. Reuters reported that...
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‘One Basin Three Countries’ seminar opens in Suriname

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As Guyana prepares for oil production in a matter of months, focus is continuing to be placed on the attractive Guyana-Suriname Basin, with the convening of the One Basin Three Countries Energy Conference for the Guianas which gets underway...
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10-year plan is needed to ensure development from oil

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With oil production slated to begin within months, Guyana’s former Minister of Natural Resources and the Environment, Robert Persaud, says there is need for a ten-year cohesive, comprehensive plan to efficiently utilise the new-found wealth for the nation of...
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New Zealand company wins contract for upgrade of Guyana’s taxation system as first oil nears

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New Zealand technology company DataTorque has won a contract to improve revenue mobilisation and tax administration for the Guyana Revenue Authority (GRA) following a competitive tendering process. GRA’s Head of Information Technology (IT), Sese Jones, told OilNOW on Tuesday the...
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GranMorgu FPSO construction hits 27% as Suriname targets first oil by 2028

Construction of the floating production, storage and offloading (FPSO) platform for Suriname’s GranMorgu project has reached 27%, state oil...

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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