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Hess has until July 2025 to secure new partner for Suriname’s Block 59

Shikema Dey -
Hess Corporation is on the hunt for a new partner in Suriname’s Block 59 and has until July next year to secure one, according to the timeline set by state oil firm Staatsolie.  “Attracting a partner must be seen against...
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SLB’s new technology boosts drilling efficiency in Guyana by 65%

OilNOW -
SLB has successfully increased the Rate of Penetration (ROP) by 65% in ExxonMobil's “most complex offshore Guyana trajectory”, saving 34 hours of drilling time. The achievement was made possible through the combination of the AccuStrike bit and the PowerDrive...
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Companies gearing up to sign Guyana’s new PSA with 10% royalty and corporate tax regime 

OilNOW -
Guyana has finalized its new model Production Sharing Agreement (PSA) with no changes to the fiscal terms introduced on March 14 during the country’s first oil blocks licensing round. The new PSA, which mandates a 10% royalty rate and...
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United States, Guyana, Canada and Brazil accounting for three-quarters of non-OPEC+ supply gains

OilNOW -
The International Energy Agency (IEA) says despite the marked slowdown in Chinese oil demand growth, OPEC+ has yet to call time on its plan to gradually unwind voluntary production cuts starting in the fourth quarter of this year. However,...
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Halliburton seeking contractor for provision of drilling chemicals 

OilNOW -
Halliburton Guyana Inc. has issued an Expression of Interest (EOI) for the provision of drilling chemicals.  According to the public EOI, the chemicals - calcium chloride, hydrated lime, soda ash and mono ethylene glycol - must comply with the “quality...
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Yard Foremen, Mechanics, Project Managers, Software Developers to be hired at upcoming GYSBI job fair

OilNOW -
Guyana Shore Base Inc. (GYSBI), in partnership with Muneshwers Limited and its Joint Venture partners, will host a comprehensive career fair on Saturday, August 24th, 2024, at the Everest Cricket Club, Camp Road, Georgetown, from 09:00 hrs to 16:00...
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Guyana’s 2022, 2023 EITI reports to be ready months ahead of deadlines

OilNOW -
Guyana is preparing to submit reports as part of its obligations to the Extractive Industries Transparency Initiative (EITI) in the coming months.  Minister of Natural Resources, Vickram Bharrat, explained during an August 14 press conference that the 2022 and 2023...
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Petrobras boosts 2024 Capex to US$14.5 billion, focused on O&G expansion

OilNOW -
Petrobras, Brazil's state-owned energy giant, has raised its capital expenditure (CAPEX) projection for 2024, reflecting increased investments in oil and gas exploration and production (E&P).  After reporting a US$6.4 billion capex in Q1 2024—12.5% higher than the previous year—Petrobras has...
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Technicians, Engineers, Maritime positions “most difficult” roles to fill in O&G sector – Labor Assessment Study

OilNOW -
Labor scarcity in Guyana’s market is a known issue, especially in the oil and gas sector.  Currently, technicians, engineers and maritime positions are the “most difficult” to fill, according to data from a 2023 labor assessment study. An excerpt was...
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Guyana shortlists seven firms for offshore seismic study 

OilNOW -
Guyana’s Ministry of Natural Resources has shortlisted seven companies for consideration to conduct a seismic study offshore.  Minister of Natural Resources, Vickram Bharrat, told reporters at an August 14 press conference that around eight companies submitted or expressed interest. "We...
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TT will lead ‘next chapter’ in energy age — PM Persad-Bissessar

Prime Minister Kamla Persad-Bissessar has pledged that Trinidad and Tobago will take a proactive role in shaping the future...

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