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Hammerhead is ‘thickest single sand package’ drilled on Stabroek Block – Hess

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The Hammerhead-1 well, where approximately 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoir was encountered by the Stena Carron drillship in August offshore Guyana is the ‘thickest single sand package’ drilled on the Stabroek Block, according to President...
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Stena Carron will sail to Spain for dry-docking before returning to Guyana in December – Hess

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The Stena Carron drillship which has been exploring for oil in the Stabroek Block offshore Guyana is scheduled to depart for Spain for drydocking. Speaking on a 3rd quarter earnings call on Wednesday, Gregory P. Hill, President and Chief Operating...
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Major oil and gas exporters face unprecedented challenges in years ahead – new IEA study shows

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Major oil and gas exporters have weathered many upheavals in recent decades but a renewed commitment to reform and economic diversification will be vital to cope with the changing dynamics of global energy. These include rising production from new...
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CGX Energy agrees to settle all liabilities with Japan Drilling

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CGX Energy Inc. announced on Wednesday that it has entered into an agreement with Japan Drilling Co., Ltd. along with its subsidiary CGX Resources Inc., to settle all liabilities claimed by JDC from the Company arising from a drilling...
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Liza Tier 1 contractor TechnipFMC sign major deal with MIDOR

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ExxonMobil Guyana Liza Tier 1 contractor TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt. This EPC contract covers the debottlenecking...
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Guyana oil production will more than quadruple by 2023 with Liza Phase 1, 2 and Payara

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Rapid development and production offshore Guyana will see oil production at peak moving from 120,000 barrels of oil per day (bpd) from the Liza Phase 1 project in 2020 to a whopping 520,000 bpd after the Liza Phase 2...
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Guyana at cross-roads with big opportunity for security, stability – ASP

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In less that 24 months Guyana, located on the northern shoulder of South America, will begin producing oil from its vast offshore reserves discovered by US oil major ExxonMobil. The opportunity that oil wealth presents is clear, says the...
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Oil exploration company plugs US1.25M into water conservation efforts

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Cataleya Energy Limited has funded a project in a remote village in the South American country of Guyana to tackle drought and create economic opportunities for residents in the Central Rupununi community. The US$1.25 million reservoir has the capacity to...
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Brazil’s oil, gas reforms likely to continue under new President

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Brazil’s oil and gas industry is expected to continue seeing reforms boosting both investments and production, as President-elect Jair Bolsonaro puts an end to 16 years of labor party rule. The so-called far-right candidate won Sunday’s second round of voting...
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Foreign companies team up to explore for oil in Grenada

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The Grenada government says two foreign companies have teamed up to continue the exploration of the island’s maritime space. In a October 29 report, the Antigua Observer quoted Grenada Energy Minister Gregory Bowen as saying that the Russian owned Global...
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Jagdeo says LNG remains a priority as Guyana moves to monetize its gas resources

Guyana’s Vice President Bharrat Jagdeo has reaffirmed that liquefied natural gas (LNG) remains a key option in Guyana’s plan...

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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