Production

Exploration

$620B in oil & gas projects may be deferred through 2020 – Deloitte

OilNOW -
The impact of the extended oil price downturn will likely have long-term effects on the industry in a number of areas including capital allocation and people, according to multinational professional services firm, Deloitte Touche Tohmatsu Limited. In describing 2017 as...
News

Transformation to oil producer in less than 5 yrs “unprecedented in the world” – Canadian High Commissioner

OilNOW -
The challenges facing Guyana as it prepares for oil production in 2020 will be bigger, since the country’s rapid move to first oil gives it less than 5 years from the initial discovery, to fully prepare. Outgoing Canadian High Commissioner...
Production

Tulip Oil gets gas production license for Dutch offshore field

OilNOW -
(Reuters) - Dutch oil and gas exploration company Tulip Oil has been awarded a production license by the Dutch government for a gas field off the coast of the Netherlands, it said on Monday. Tulip Oil will now proceed with a...
News

Guyana can experience as much as 2000% increase in GDP over next 20 yrs – GCCI President

OilNOW -
The economic explosion Guyana is expected to experience with coming oil production can see the country’s Gross Domestic Product (GDP) skyrocketing by as much as 2000% over the next two decades, according to President of the Georgetown Chamber of...
News

No final decision yet on second FPSO for Guyana – ExxonMobil

OilNOW -
US super-major ExxonMobil says it has not yet made a final decision on a second Floating Production Storage and Offloading (FPSO) vessel for development and production operations offshore Guyana.With gross recoverable resources for the Stabroek block now estimated to...
News

Ecuador unable to meet OPEC curbs; says it needs to pump more oil

OilNOW -
Ecuador has become the first country to publicly admit it will not meet OPEC’s production curbs, saying it needs to pump more oil to address its fiscal deficit. The South American country’s promised cut of 26,000 barrels of oil a...
News

OilNOW EXCLUSIVE: Learn more about what TechnipFMC is undertaking offshore Guyana

OilNOW -
TechnipFMC has been awarded three contracts by ExxonMobil for development of the Liza field offshore Guyana. Carlos Latorre, International Service Manager, spoke exclusively with OilNOW and had this to say... https://www.youtube.com/watch?v=fWMCjZv075Q    
News

Saipem secures $500M in contracts, FPSO deployment

OilNOW -
Saipem has been awarded a new E&C Offshore contract by Saudi Aramco for Engineering, Procurement, Construction, Installation (EPCI) activities and Trunklines & Installation (T&I) works in Saudi Arabia, under the Long-Term Agreement in force, renewed in 2015 until 2021. The...
News

ExxonMobil confirms award of contracts to SBM for Liza project in Guyana

OilNOW -
ExxonMobil has formally confirmed the award of contracts to SBM Offshore for the next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install, lease and operate a Floating Production, Storage and Offloading Vessel...
News

France to ban licences for oil and gas exploration

OilNOW -
France is to stop granting new licences for oil and gas exploration on the mainland and in overseas territories, Environment Minister Nicolas Hulot said Friday. Mining codes will be modified, while current exploration projects already underway would continue. “There will...
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SLB expands presence in Suriname with new office

SLB has strengthened its presence in Suriname with the opening of a new office in Paramaribo, reinforcing its commitment...

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