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Guyana pushing for oil companies to further reduce waiting period for payment to local contractors

OilNOW -
The 45-day timeline for Guyanese contractors to be paid by oil companies is still seen as too lengthy, so the government is looking to reduce this.  The payment timeline was initially 90 days; then it was reduced to 45 days...
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Six FPSOs targeting over five billion barrels of oil at Stabroek Block – Hess

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Hess Corporation has revealed that nearly half of the Stabroek Block’s massive 11.6-billion-barrel reserve will be tapped with six production vessels.  “With the six ships that we have already sanctioned, we're going to be developing over five billion barrels of...
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Over 1000 young people to benefit from GGI-funded projects – Agri Minister

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As part of its commitment to fostering capacity development across Guyana, the Greater Guyana Initiative (GGI) has partnered with the Ministry of Agriculture to develop sustainable and climate-resilient farming models. These models aim to accelerate food production while fortifying...
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ICJ ruling on Guyana/Venezuela border controversy expected by 2026 – Greenidge

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Former Foreign Minister of Guyana, Carl Greenidge, has expressed optimism that the International Court of Justice (ICJ) ruling on the longstanding border controversy between Guyana and Venezuela could be delivered by 2026. Greenidge, who is also an agent for Guyana...
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Exxon’s sole Guyana discovery for 2024 holds 500 million boe, says Rystad Energy

Shikema Dey -
ExxonMobil’s only discovery in the Stabroek Block in 2024 - Bluefin is estimated to hold some 500 million barrels of recoverable resources, according to Rystad Energy.  The Bluefin well encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone and was...
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Hess “very confident” merger will go through

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Hess Corporation is optimistic about its merger with Chevron, asserting confidence that the deal will overcome arbitration hurdles and close by the third quarter of 2025. The merger, valued for its strategic alignment, aims to create a leading oil...
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Shell discovery setback won’t derail Namibia’s oil ambitions – Energy Minister

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Namibia's Minister of Mines and Energy, Tom Alweendo, has downplayed the impact of Shell's announcement that discoveries in Petroleum Exploration License (PEL) 39 are not viable for commercial development.  Shell determined that the oil discoveries were not commercially viable, leading...
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SBM Offshore seeks local suppliers for coverall production

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Guyana Deep Water Operations Incorporated (GDO), the local affiliate of SBM Offshore, has issued a Request for Information (RFI) to identify Guyanese manufacturers capable of supplying construction-grade coveralls. The company aims to engage local suppliers to meet its operational needs...
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Yellowtail project is 95% completed – John Hess 

OilNOW -
Guyana’s fourth Stabroek Block development, Yellowtail, is approximately 95% complete, according to an update from Hess's Chief Executive Officer, John Hess, speaking at the recent Goldman Sachs conference.  The Yellowtail Development includes six drill centers and up to 67 wells,...
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SLB secures multi-region deepwater contracts from Shell

OilNOW -
Shell has awarded major drilling contracts to SLB, a global energy technology company. These contracts aim to support energy development across deepwater and ultra-deepwater assets in regions including the UK North Sea, Trinidad and Tobago, and the Gulf of...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

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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