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Petroleum Bill: Getting it right trumps passing it with haste – Trotman

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The passage of the Petroleum Commission of Guyana Bill 2017 which would pave the way for the establishment of a Petroleum Commission could occur before year-end, but authorities say getting it right is more important than trying to accelerate...
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ExxonMobil increases Harvey relief effort commitment to $9.5M

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Exxon Mobil Corporation said Thursday it had increased its financial commitment for Harvey relief to up to $9.5 million, which includes a new employee and retiree donation match program and in-kind donations to the American Red Cross for recovery efforts...
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Production license valid for 20 years with one-time renewal option

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ExxonMobil will have an initial 20-year period to produce petroleum under the license granted by Guyana for the Liza Phase 1 development project, with a single renewal period of up to 10 years thereafter. As part of the agreement, ExxonMobil,...
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Guyana President stresses transparency, accountability in meeting with ExxonMobil CEO

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Guyana’s President, Brigadier David Granger on Wednesday emphasized the importance of transparency and accountability in the oil and gas sector and reaffirmed the country’s commitment to doing things the “right way” in a meeting with CEO of ExxonMobil Corporation,...
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Open bidding for petroleum blocks will be determined by national interest – Trotman

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Guyana’s decision to retain a system of direct negotiations with companies or move towards a bidding system for the issuance of Exploration and Production (E&P) licenses will be determined by national interest. So says the country’s Minister of Natural Resources,...
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Egypt signs O&G exploration deals with Shell, Apex

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(Reuters) - Egyptian Oil Minister Tarek El Molla has signed three oil and gas exploration deals for 16 new fields in the Western Desert worth at least $81.4 million in total with Royal Dutch Shell and the U.S.-based Apex...
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TechnipFMC awarded EPCI contract for Husky Energy West White Rose project

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TechnipFMC has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract from Husky Energy for the West White Rose Project in Eastern Canada. The contract covers the supply and installation of subsea equipment including tie-in manifolds, flexible flowlines, and...
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2D imaging shows potential 1.8 billion barrels of oil at Orinduik Block

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Eco (Atlantic) Oil & Gas had announced in June that the company along with its partner, Tullow Oil, was pursuing “significant reservoir leads” on the Orinduik Block offshore Guyana. OilNOW has since been able to confirm that these leads...
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Gossai parts ways with GOGA to pursue oil & gas studies

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Chief Executive Officer of the Guyana Oil and Gas Association (GOGA), Bobby Gossai Jr. will be vacating his post at the entity to pursue a Master’s Degree in the field of petroleum, energy economics and finance at the University...
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Guyana will push for higher royalties, greater profits in future negotiations – Trotman

OilNOW -
Significant petroleum discoveries offshore Guyana by US super-major ExxonMobil has served to derisk the Guyana-Suriname basin, and in so doing, strengthen the South American country’s position for future negotiations. The country’s Minister of Natural Resources, Raphael Trotman, told OilNOW on Friday...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

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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