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Guyana revenue take will increase as oil production climbs

OilNOW -
The projected revenues the South American country of Guyana is set to receive from oil production have been steadily growing since approval of the first offshore development at the giant Liza field. The Liza Phase 1 Development, sanctioned in June...
News

ExxonMobil Guyana contract consistent with other countries – IMF Mission Chief

OilNOW -
International Monetary Fund (IMF) Mission Chief to Guyana, Dr. Arnold McIntyre, says there is nothing unusual about the Production Sharing Agreement (PSA) which the country has with ExxonMobil for the Stabroek Block, where more than 6 billion barrels of...
News

Guyanese workforce, suppliers increasing as first oil approaches

OilNOW -
With close to 30 billion dollars spent in Guyana on the procurement of goods and services since 2015, ExxonMobil says it has a tripartite approach to local content and sees its application as one that benefits both the company...
News

University students, members of the public visit Exxon’s ‘open house’ for Payara project

OilNOW -
Adopting a different format geared towards maximising interaction with the public, ExxonMobil Guyana staged an ‘open house’ on its proposed 220,000 barrels per day Payara project on Monday, September 30 at the Pegasus Hotel in the country’s capital, Georgetown. The...
News

SBM Offshore begins construction of Guyana’s 2nd floating oil production complex

OilNOW -
Dutch firm SBM Offshore has commenced the construction phase of the Liza Unity floating production, storage and offloading vessel (FPSO) following ExxonMobil’s final investment decision (FID) on the Liza Phase 2 development, in May 2019. This follows the recent delivery...
News

Criticism of Guyana government mounts over election as oil production looms

OilNOW -
The international community, including Guyana’s primary bilateral partners in addition to segments of its domestic business and legal fraternity, has come out in criticism of the Guyana Government for what it has described as a breach of the Constitution...
News

Double oil strikes reaffirm Guyana’s substantial oil resources – Dr. Bynoe

OilNOW -
Speaking to the media hours after the announcements of two oil discoveries off the Guyana coast, Director of the country’s Department of Energy (DE), Dr. Mark Bynoe said these latest successes, which brings the total discoveries to date to...
News

Hess will plug 75% of CAPEX in Guyana, Bakken over next 5 years

OilNOW -
The Stabroek Block offshore Guyana is being praised as a transformational investment opportunity for Hess Corporation. The company’s 30 percent stake in the prolific 6.6 million acres block is helping to put it well on its way to increasing...
Exploration

Fastest production ramp-up ever undertaken on track for first oil

OilNOW -
Plans are moving along rapidly in South America’s newest oil and gas hotspot for the start of oil production, now just months away. The arrival of the Liza Destiny FPSO in Guyana was announced on August 29, paving the...
News

TechnipFMC to separate into two companies

OilNOW -
TechnipFMC plc (NYSE: FTI) (Paris: FTI) on Monday said is its Board of Directors had unanimously approved its plan to separate into two industry-leading, independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider, continuing to drive energy development;...
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Ali signals more oil exploration with stronger Production Sharing Agreement

Guyana's President, Dr. Mohamed Irfaan Ali, has signaled that his administration will embark on an expanded exploration push. “We...

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