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Eni cranks up production at mega Zohr field offshore Egypt

OilNOW -
(Hart Energy) Eni SpA has confirmed the start of production from the supergiant Zohr Field, which puts Egypt on course to become an energy exporter with the field’s more than 30 trillion cubic feet of potential gas in place. Startup...
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SBM Offshore completes US$720M Liza Destiny financing

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SBM Offshore said on Wednesday that on December 19, 2017 it completed the project financing of FPSO Liza Destiny for a total of US$720M. The project financing was secured by a consortium of twelve international banks. The Company expects to draw the...
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Guyana to establish petroleum cost recovery sub-committee

OilNOW -
As preparation ramps up for oil production in 2020, the Government of Guyana is to establish a cost-recovery sub-committee, according to information reaching OilNOW. While details remain sketchy, it is believed that this sub-committee will be resident within the...
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Liza Destiny builder Keppel secures $130M in projects

OilNOW -
Keppel Offshore & Marine (Keppel O&M) has bagged projects from repeat customers Petrobras and SOFEC Inc. (SOFEC) with a total value of $130M. According to a press release, the projects were bagged by its two wholly-owned subsidiaries Keppel FELS Brasil...
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Oil workers sue Shell over Gulf of Mexico platform fire

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(Reuters) Three offshore oil workers filed a lawsuit against units of Royal Dutch Shell and Enbridge, seeking $1 million in damages for injuries they allegedly received during a Nov. 8 fire on a U.S. Gulf of Mexico production platform. The...
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Japan’s MODEC to supply FPSO for Libra consortium in Brazil

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Japan’s MODEC, Inc. said on Tuesday it has signed a contract for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel with Petróleo Brasileiro S.A. (Petrobras) as Leader and Operator of the Libra Consortium on...
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CGX renegotiates work programme for oil blocks in Guyana

OilNOW -
CGX Energy Inc. said Monday it has successfully renegotiated its work commitments for the Demerara, Corentyne and Berbice Petroleum Prospecting Licenses with the Government of Guyana. As part of the renegotiation, the Company has also agreed to relinquish 25% of...
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Brazil’s Temer relaxes stringent local content requirements

OilNOW -
The Government of the Federation of Brazil has yielded to demands for higher minimum percentages as they edge closer to an industry-wide local content policy. Brazil in recent years has become known for its stringent local content requirements; some of...
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The World Bank won’t back oil and gas – what now?

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(Chatham House) At the One Planet Summit in Paris last week, the World Bank Group announced that, from 2019, it will no longer finance upstream oil and gas. This reflects the Bank’s decision to realign its development assistance with...
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Canada firm plans $200M coin/share offering for oil and gas

OilNOW -
(Reuters) - Canadian oil financing firm Oleum Capital Inc plans to raise $200 million in mid-January through what it calls the world’s first offering of both shares and cryptocurrency tokens, a senior company executive told Reuters. The Calgary, Alberta-based company,...
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Eco Atlantic remains upbeat about stake in South America’s mega hotspot   

Eco (Atlantic) Oil & Gas Ltd. has reaffirmed its focus on Guyana, a key area for hydrocarbon exploration, where...

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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