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UK Analyst and Guyanese Economist say high royalty rate could make Guyana less competitive

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UK-based data analytics and consulting company GlobalData and a Guyanese Economist both say the scope for an upward adjustment in the royalty rate under Guyana’s current model Production Sharing Agreement is limited and warns that increasing this beyond a...
Exploration

Offshore project sanctioning in 2019 stands at $56 billion

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To survive in the lower oil price environment of the past five years, E&Ps and service companies alike have sharpened their pencils and delivered significant cost reductions for the offshore industry. Rystad Energy says the resulting cost savings is...
Exploration

Whatever happens the oil will flow

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The sheer magnitude of Guyana’s oil producing potential has been recognised by many international publications and industry experts. With ExxonMobil Guyana expecting to produce over 750,000 barrels of oil per day by 2025, Guyana will soon become one of...
News

Liza Destiny was completed in record 20+ months – SBM Offshore

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The Liza Destiny FPSO which is currently sailing to Guyana, recently departed from Keppel shipyard in Singapore. This key milestone follows a record turnaround time of just over 20 months for its construction phase by SBM Offshore – including...
News

Safety comes first: ExxonMobil Guyana talks up HSSE policy

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With the emergence of the oil and gas industry in Guyana, there are a number of concerns such as management of the industry and its resources, local content, limiting the environmental impact and safety. Among these concerns, the issue...
News

Investors not attracted to risky basins; Guyana will seek larger share going forward – Bynoe

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While the terms of the Production Sharing Agreement (PSA) Guyana has with ExxonMobil for its Stabroek acreage remain in the spotlight, the head of the country’s Department of Energy (DE) says that government’s take in basins that are not...
News

40% of resources to be sanctioned for 2019 gets greenlight

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While large projects such as the Liza Phase 2 development in Guyana are expected to get the greenlight by the of the year, so far sanctioning volumes year-to-date have reached 40% of resources planned to be sanctioned, driven by...
News

Iran announces capture of British oil tanker; US officials say two ships seized

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(CNN) Iran announced the capture of one British ship in the narrow Strait of Hormuz Friday, and US officials say that a second has also been seized. Iran's Islamic Revolutionary Guard Corps (IRGC) said on Friday that its navy had...
News

Liza Destiny’s helideck receives green light from GCAA

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The Guyana Civil Aviation Authority (GCAA) sent its Chief Air Navigations and Aerodromes Inspector, Mr. Adrian Bassier, to conduct a helideck inspection aboard the Liza Destiny, in Singapore. The inspection was conducted in collaboration with the Ghana Civil Aviation Authority...
News

Minister hopes UG’s ‘Intelligent Radio’ brings back smart reporting

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Intelligent Radio Studios is the newest station on the nation's airwaves. On Thursday, July 18, 2019, the University of Guyana (UG), with support from ExxonMobil Guyana, celebrated the revitalization of UG's campus radio programming. The University had established its...
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Chinese oil and gas giant CNOOC eyes greater role in Trinidad and Tobago’s energy sector

Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy and...

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