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TechnipFMC wins Shell subsea contract

OilNOW -
TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a significant integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Shell for the PowerNap project, located in the Gulf of Mexico. TechnipFMC will design, manufacture and install subsea hardware, including subsea...
News

Revised model PSA targeting future licensing rounds – Energy Department confirms

OilNOW -
Guyana’s President, David Granger has made it clear that his APNU+AFC coalition administration respects the sanctity of contracts. This is a position the Department of Energy (DE) embraces, with its Director confirming to OilNOW on Friday that revisions to...
News

Exxon targeting Tripletail, Uaru, and Mako as oil hunt intensifies offshore Guyana

OilNOW -
With more than 6 billion barrels of oil already discovered off the Guyana coast, ExxonMobil is leaving no stone unturned in its quest to find more crude in the 6.6 million acres Stabroek Block. The US oil major is...
Discoveries

World’s Largest Recent Offshore Oil Discovery Progresses Amid Political Tensions, Disputes

OilNOW -
Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true for the most prolific offshore oil discovery in recent years off the coast of the...
News

Guyana oil boom will drive construction activity, reduce unemployment – Fitch Solutions

OilNOW -
Fitch Solutions - an industry-leading provider of credit, debt market, and macro intelligence services – says as the South American country of Guyana upgrades its infrastructure and prepares for an economic windfall from oil production, the construction sector will...
News

Opposition Leader wants more oil benefits for Guyana; says this must be balanced against investor returns

OilNOW -
Guyana's Opposition Leader Bharrat Jagdeo believes the South American country needs to alter the terms of future Production Sharing Agreements (PSAs) to maximize benefits for all Guyanese, but says this must be balanced against investor returns. “They will be...
Exploration

UK Analyst and Guyanese Economist say high royalty rate could make Guyana less competitive

OilNOW -
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...
Exploration

Whatever happens the oil will flow

OilNOW -
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...
News

Guyana production could help fill ‘giant oil supply gap’ looming

OilNOW -
Chairman and Chief Analyst at Wood Mackenzie, Simon Flowers says a giant oil supply gap is looming. If, as is expected, oil demand peaks at 110 million b/d in 2036, the inexorable decline of fields in production or under...
Featured

‘Guyana – a milestone in my career’ – Saipem Country Manager

OilNOW -
Thuranthiran Nadarajah, the Country Manager for Sapiem Guyana has been working for 15 years with the Italian company, but he says that his work in Guyana over the past two years is a milestone in his career, simply because...
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What you need to know about the U.S. military build-up in the Caribbean

What began on August 14, when Washington ordered air and naval forces into the southern Caribbean reportedly to combat...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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