News

Guyana will be earning a 2% royalty on gross earnings from the Liza oil field production. This will come, along with a 50/50 Production Sharing Arrangement, in which Guyana earns half of the ‘profit oil’ revenue while the other half...

Guyana’s Minister of Natural Resources Raphael Trotman said today that government is in the process of finalising ExxonMobil’s production license and will be “making some pronouncements in the next few weeks.” Mr. Trotman made the announcement to stakeholders at...

Exxon Mobil Corp. investors backed a resolution urging the oil giant to consider whether it can prosper under strict greenhouse gas limits in a vote coming amid reports President Donald Trump may soon abandon the 2015 Paris Climate Accord. According...

ExxonMobil’s newly installed Country Manager in Guyana, Rod Henson, will be looking to continue the stretch of good fortune seen by the company over the last 2 years, offshore the South American country. Exxon made the biggest oil discovery...

Oil Spill Response Ltd (OSRL), Trendsetter Engineering and Halliburton today announced that they have signed a Memorandum of Understanding (MoU) for integrated subsea well-capping response solutions. With the MOU, the companies will create a strategic alliance for oil and...

Developing technical skills among Guyanese for jobs in the oil and gas sector is being treated as a top priority by the Guyana Oil and Gas Association (GOGA). The entity is actively engaging a number of external partners which...

Chinese jack-up fabrication specialist China Merchant Heavy Industry (CMHI) and French offshore engineering giant TechnipFMC have started talks on forming a joint venture to focus on engineering, procurement and construction work for offshore modules. The two companies recently met in...

Maersk Drilling has been awarded a contract extension for the ultra-deepwater drillship Maersk Viking, by oil major Exxon Mobil. The estimated value of the contract extension is $22.5 million, with a duration of 150 days. Maersk Viking has been operating...

Dutch company, Fugro, says it is willing to participate in efforts to educate Guyanese on offshore exploration and production operations. Fugro is already providing specialized training to a number of persons employed at Ground Structures Engineering Consultants Inc.; a Guyanese...

Royal Dutch Shell plc, through its subsidiary BG E&P Brasil Ltda. (Shell) and consortium partners in Lula South, announce Friday that deepwater production has started at the FPSO P-66, which is located in the Brazilian pre-salt of the Santos...