News

UK-based Tullow Oil and its joint venture partners are gunning for a drill campaign at a Suriname wildcat in 2020. The company said this week that is has interests in three blocks in Suriname; Blocks 54, 62 and 47. “Following...

UK-based data analytics and consulting company GlobalData and a Guyanese Economist both say the scope for an upward adjustment in the royalty rate under Guyana’s current model Production Sharing Agreement is limited and warns that increasing this beyond a...

To survive in the lower oil price environment of the past five years, E&Ps and service companies alike have sharpened their pencils and delivered significant cost reductions for the offshore industry. Rystad Energy says the resulting cost savings is...

The sheer magnitude of Guyana’s oil producing potential has been recognised by many international publications and industry experts. With ExxonMobil Guyana expecting to produce over 750,000 barrels of oil per day by 2025, Guyana will soon become one of...

The Liza Destiny FPSO which is currently sailing to Guyana, recently departed from Keppel shipyard in Singapore. This key milestone follows a record turnaround time of just over 20 months for its construction phase by SBM Offshore – including...

With the emergence of the oil and gas industry in Guyana, there are a number of concerns such as management of the industry and its resources, local content, limiting the environmental impact and safety. Among these concerns, the issue...

While the terms of the Production Sharing Agreement (PSA) Guyana has with ExxonMobil for its Stabroek acreage remain in the spotlight, the head of the country’s Department of Energy (DE) says that government’s take in basins that are not...

While large projects such as the Liza Phase 2 development in Guyana are expected to get the greenlight by the of the year, so far sanctioning volumes year-to-date have reached 40% of resources planned to be sanctioned, driven by...

(CNN) Iran announced the capture of one British ship in the narrow Strait of Hormuz Friday, and US officials say that a second has also been seized. Iran's Islamic Revolutionary Guard Corps (IRGC) said on Friday that its navy had...

The Guyana Civil Aviation Authority (GCAA) sent its Chief Air Navigations and Aerodromes Inspector, Mr. Adrian Bassier, to conduct a helideck inspection aboard the Liza Destiny, in Singapore. The inspection was conducted in collaboration with the Ghana Civil Aviation Authority...