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Exploration

Tullow Oil signs exploration contracts offshore Ivory Coast

OilNOW -
(Reuters) Tullow Oil has signed four production-sharing contracts in Ivory Coast with an initial investment of $21 million, an Ivorian government spokesman said on Wednesday. The contracts, which include a 10 percent share for state oil company Petroci, span exploration...
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Australia, Timor Leste draw up maritime borders draft treaty to bring end to oil and gas dispute

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(SBS) Australia and Timor Leste have drawn up a draft treaty setting out their maritime borders, aiming to end a bitter dispute over lucrative oil and gas fields, officials said Sunday. "Timor Leste and Australia have reached agreement on the...
News

Robust internet security vital for protection of sensitive data – ICANN

OilNOW -
A secure, stable and reliable internet network is important for any country that wants to develop a framework for efficient handling of data across a number of platforms. This was pointed out by Senior Manager of Stakeholder Engagement for the Caribbean attached...
News

Petroleum summit pushed to February 2018

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The inaugural Guyana International Petroleum Business Summit & Exhibition (GIPEX 2018) will now be held on February 7-9, 2018. The summit, originally scheduled for November this year, will open strategic dialogue and place the South American country as a...
News

Guyana oil reserves hover around 3 billion barrels with more discoveries expected

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With no proven oil reserves just over two and a half years ago, Guyana now has approximately 3 billion barrels of recoverable oil and this number is expected to further increase as the hunt for more petroleum intensifies. The country’s...
News

Trotman, Jadoopat invited to EITI International Board meeting in Philippines

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Guyana’s Minister of Natural Resources Raphael Trotman and National Coordinator of the Guyana Extractive Industries Transparency Initiative (GYEITI) Dr. Rudy Jadoopat have been invited to attend the 38th EITI International Board Meeting in Manila, Philippines on October 25-26, 2017. OilNOW can confirm...
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US$1.5M financing secured for completion of Guyana’s Green State Development Strategy document

OilNOW -
The Ministry of the Presidency in Guyana has secured US$1.5 Million (GY$ 300 Million) to finance the development of the Green State Development Strategy (GSDS). This financing was approved by the Steering Committee of the Guyana REDD+ Investment Fund...
Exploration

Supermajor Chevron eyeing Guyana prospects

OilNOW -
US supermajor Chevron is looking to participate in offshore activities in Guyana, making it the third oil major that views the South American country as a favourable location. Total recently moved towards entering an agreement with Eco Atlantic on the...
News

All eyes on Suriname as success offshore Guyana raises prospects for the basin

OilNOW -
A fifth oil discovery announced last week by ExxonMobil off the Guyana coast has further increased expectations that similar play could be expected in neighbouring Suriname as Tullow Oil farms into the Araku prospect on Block 54. Already, a 3D...
News

WorleyParsons enters UK North Sea market with $228M acquisition

OilNOW -
Australian engineering firm WorleyParsons Ltd (WOR.AX) said on Monday it would buy the former upstream oil and gas assets of Britain’s Amec Foster Wheeler Plc AMFW.L for 228 million pounds ($298.22 million), marking its entry into the UK North...
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NewsKemol King -

Exxon ramping up capacity to produce nearly 2.2 million boe/d in Guyana by 2030

ExxonMobil Guyana is on track to ramp up its capacity to produce oil, condensate and gas at almost 2.2...

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