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Offshore sanctioning nearing peak – Rystad Energy

OilNOW -
The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy. The independent energy research and consultancy firm headquartered in Norway with offices across the globe forecasts that the service...
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Guyana session at OTC saw capacity audience

OilNOW -
This year’s Houston's Offshore Technology Conference highlighted panels that showed a global deepwater that has become increasingly robust and the session on Guyana saw a capacity audience clamoring to hear more about South America’s newest oil and gas hotspot. Starr...
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ExxonMobil gets approval for Mozambique Rovuma LNG project

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Mozambique Rovuma Venture said Tuesday that the government of Mozambique had approved its development plan for the Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique,...
News

ExxonMobil conducting met-ocean survey at Stabroek

OilNOW -
ExxonMobil Guyana is currently conducting a met-ocean survey at its Stabroek Block offshore the South American country of Guyana. The operation, which is scheduled to conclude on May 5, is being executed by the M/V Sea Service some 90 nautical...
News

Resource from 3 wells to be added to 5.5 billion estimate at Stabroek Block

OilNOW -
ExxonMobil said that the last three discoveries in the Stabroek Block offshore Guyana – Haimara, Tilapia and Yellowtail – will add to the 5.5 billion barrels of oil equivalent resource estimation determined following the tenth discovery. Jack Williams, Senior Vice...
News

ExxonMobil contracts Noble Don Taylor for Guyana drill campaign

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ExxonMobil has contracted the drillship Noble Don Taylor for operations offshore the South American country of Guyana. This is according to a fleet status report from Noble Corporation which was published on April 18, 2019. The Noble Don Taylor has...
News

Guyana oil bounty pushing demand for more drill capacity

OilNOW -
On the heels of its record 13th discovery offshore Guyana, US oil major ExxonMobil is looking to ramp up its exploration and production activities in the South American country with the addition of yet another drillship to its fleet,...
News

FID and key terms in O&G industry

OilNOW -
FID is the Final investment decision to invest in a project, typically made by the board and executive committee of oil companies. At this point, major risks have been mitigated and concerns addressed. The project then moves to execution,...
News

Magnitude of oil discoveries presents ‘historic opportunity’ for Guyana to boost growth – World Bank

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With approval of a US$20M loan from the World Bank to support a programme geared towards capacity building for Petroleum Resources Governance and Management, the South American country of Guyana is hoping to continue putting systems in place that could...
News

Upstream: SBM set to firm up third Fast4Ward order

OilNOW -
SBM Offshore is set to sign a commercial contract with Chinese yard China Merchant Heavy Industry (CMHI) this weekend to build the hull of a floating production, storage and offloading vessel under the Dutch floater specialist’s Fast4Ward design, Upstream...
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Guyana’s AFC party promises transparency, amended contracts in oil sector if it wins elections

Guyana’s Alliance for Change (AFC) political party is promising oil and gas transparency reforms and a review of existing...

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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