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Brazil oil regulator announces details on October deepwater oil auction

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(Reuters) Brazil's oil regulator ANP on Monday announced details of the 16th-round auction of oil areas under the concession regime, stipulating a higher bonus amount for the CM-541 block in the Campos Basin, which surpasses 1 billion reais ($259...
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Trinidad & Tobago’s ‘imposition of 12.5% royalty’ could backfire – GlobalData

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Trinidad and Tobago is looking to attract exploration investment with a new offshore bid round. However, the introduction of a royalty imposed on investors may be counter-productive for the government in the longer term, according to GlobalData, a leading data...
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Multiple campaigns underway at Stabroek Block

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Marine traffic is set to increase in the coming weeks at the Stabroek Block offshore Guyana as exploration and development activities ramp-up and installation operations for the Liza Phase 1 Development project gets underway. ExxonMobil affiliate Esso Exploration and Production...
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Russia is sending troops and military equipment to Venezuela

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(Vice News) A pair of Russian military planes landed in the Venezuelan capital of Caracas Saturday, carrying troops and military equipment. An official in Caracas said Monday that members of Russia’s military were in Venezuela for talks about training and...
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EPA grants ExxonMobil permit for Yellowtail exploration; Liza Phase 2 to follow

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Guyana’s Environmental Protection Agency (EPA) on Monday confirmed that an Environmental Permit has been granted to ExxonMobil Guyana for exploration drilling at the Yellowtail-1 well located in the Stabroek Block offshore the South American country.  A permit for the...
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TechnipFMC snags EPCI contract for Eni’s Merakes project

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TechnipFMC has been awarded a large integrated Engineering, Procurement, Construction, Transportation and Installation (iEPCI™) contract by Eni for the Merakes project, located offshore Balikpapan Indonesia, at a water depth of approximately 1,500 meters. This contract covers five deepwater wells, and...
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Trump dangles investment to Caribbean leaders who back Venezuela’s Guaido

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(Reuters) - U.S. President Donald Trump pledged investment in a rare meeting on Friday with five Caribbean leaders who have sided with the United States in backing Venezuelan opposition leader Juan Guaido as head of state, the White House...
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Saipem wins Spotlight on New Technology award for oil spill response

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Italian-based oil and gas contractor Saipem has won the Spotlight on New Technology award by OTC - Offshore Technology Conference, one of the most important international oil & gas industry events. OTC will be held from May 6-9 and as...
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Outside of China CNOOC only found oil in Guyana during 2018

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China’s CNOOC Limited made a total of 17 commercial discoveries in 2018, 5 of which were made in the Stabroek Block offshore Guyana which represents all of the company’s overseas discoveries for that year. The other 12 discoveries were...
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Nigeria local content body says Samsung has transformed country into FPSO construction hub

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Korean shipbuilding giant, Samsung Heavy Industries (SHI) has transformed Nigeria into a hub for fabrication and integration of Floating Production Storage Offloading (FPSO) units in Africa, the Nigerian Content Development and Monitoring Board (NCDMB) has declared, according to a...
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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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