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New oilfield services company launched in Guyana

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A new Oilfield Services company was on Wednesday afternoon launched in Georgetown Guyana, through a partnership between locally owned Mines Services Limited, TOTALTEC and Trinidadian Process Components Limited. The company, Jaguar Oilfield Services Guyana, Inc. will be providing products and...
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Avoid plugging oil revenue into manufacturing; invest in education, health and infrastructure instead – Consultant urges

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The recently released Green Paper on Guyana’s Natural Resources Fund has put in place a sturdy policy foundation for the management of the South American country’s oil revenues. This is the view of a consultant at the Natural Resource...
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ExxonMobil applying ‘Build Operate Transfer’ model for Liza Phase 2 FPSO

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The Build Operate transfer (BOT) model is being applied by ExxonMobil in Guyana on its high-profile Liza Phase 2 FPSO project. Given government approval, SBM Offshore will conduct fabrication, installation, lease and operation of the Liza 2 FPSO for...
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Saudi Arabia signs deals worth $50 billion in oil, gas and infrastructure

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(Reuters) - Saudi Arabia signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh on Tuesday, officials there said. Details were announced at the Future Investment Initiative, held in Riyadh...
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Brazil’s Petrobras receives $149M payment from SBM in leniency deal

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(Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA has received an initial payment of 549 million reais ($148.92 million) from Dutch marine engineering group SBM Offshore as part of a 1.22 billion-real leniency deal, the Brazilian government said...
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TechnipFMC awarded subsea contract for ExxonMobil Liza Phase 2 Project; commits to boosting local content

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TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has been awarded a contract by ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. for the engineering of the subsea system for the proposed Liza Phase 2 project. Following engineering and subject to requisite government approvals,...
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Hammerhead appraisal could signal good tidings for Eco Atlantic

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“I think everyone hopes to be the next Cove, but the only one that really offers something like that is the Guyana blocks,” said Ashley Kelty, a Cantor analyst. “That’s the closest to Mozambique that we’ve had for a...
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Saudi Arabia has no plans to repeat 1973 oil crisis

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(Bloomberg) -- Saudi Arabia has no intention of using its oil wealth as a political tool in the controversy over the killing of journalist Jamal Khashoggi, and the kingdom plans to boost crude output again soon. "For decades we used...
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Halliburton international sales rise

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(Reuters) Oilfield services provider Halliburton Co.’s (NYSE: HAL) third-quarter profit edged past analysts’ estimates on Oct. 22, helped by its international business, even as pipeline bottlenecks in North America led to fewer well completions. Halliburton, the largest provider of hydraulic fracturing...
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Guyana could become ‘linchpin of stability’ for greater Caribbean Basin – ASP

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No one should pretend that just because Guyana found oil and will profit from its extraction that its history, divided politics, and geopolitical challenges are gone, says the American Security Project (ASP). On the other hand, no one should...
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Offshore Frontier Solutions wins contract for ExxonMobil’s Hammerhead FPSO in Guyana

Offshore Frontier Solutions Pte. Ltd. (OFS), a joint venture between MODEC Inc. and Toyo Engineering Corporation, has secured a...

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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