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With six FPSOs onstream, Guyana could be debt-free by 2027 – Vice President Jagdeo

OilNOW -
With Guyana expected to produce over one million barrels of oil per day from six floating, production, storage and offloading (FPSO) vessels by 2027, the country will likely have enough money to clear its debt. This is according to...
News

Prosperity FPSO delivery, Whiptail contract among highlights of SBM Offshore’s third quarter report

OilNOW -
The on-time delivery of the Prosperity floating production, storage and offloading (FPSO) vessel and the award of a new front-end engineering and design (FEED) contract for the Whiptail development project are among the key accomplishments noted by SBM Offshore...
News

Liza Destiny quickest to peak production among Guyana, Brazil FPSOs – S&P Global

Shikema Dey -
The timeframe to ramp up Guyana projects to peak production is significantly less than neighboring Brazil, according to S&P Global Commodity Insights.  There are only two floating production, storage and offloading (FPSO) vessels operating offshore Guyana, in the Stabroek Block...
News

SBM Offshore set to begin front end engineering design for Exxon’s 6th Guyana FPSO

OilNOW -
Dutch floater specialist, SBM Offshore announced on Friday that it has been awarded contracts to perform front end engineering and design (FEED) for a floating production, storage and offloading vessel (FPSO) for ExxonMobil’s Whiptail development project in Guyana. Following FEED...
News

Builder of Guyana FPSOs hits major milestone with new energy solutions in France

OilNOW -
SBM Offshore has hit a new milestone under its Engineering, Procurement, Construction, and Installation scope. The company announced on Thursday that it has successfully installed three floating wind units for the Provence Grand Large pilot project located 17 kilometers...
News

Higher oil exports in H1 2023 owed to Liza Unity start-up

OilNOW -
Guyana reported a significant boost in its crude oil export earnings, reaching US$5.39 billion for the first half of 2023, marking a substantial increase of US$1.78 billion compared to the prior year.  The surge in earnings was driven by a...
News

MODEC FPSO hits first oil in Brazil on one of the longest charter contracts in company’s history

OilNOW -
MODEC, Inc. announced a significant milestone in its ongoing partnership with Petróleo Brasileiro S.A. (Petrobras) as the FPSO Anita Garibaldi MV33 successfully achieved first oil production on August 16, 2023. The vessel, now operational at the Marlim field in...
News

Dutch company’s innovative composite pipe installed at ExxonMobil’s Liza Field

OilNOW -
Strohm, a composite pipe company, has successfully installed its first deepwater/high-pressure thermoplastic composite pipe (TCP) jumper in the Stabroek Block offshore Guyana. The installation marks the adoption of Strohm's innovative "Jumper on Demand" approach and its effectiveness in enhancing...
News

Guyana government agreed to unitise Exxon’s Liza, Payara fields

OilNOW -
Guyana’s Minister of Natural Resources has revealed that the government agreed to let Exxon unitise the Liza and Payara fields, a step to allow a floating production, storage and offloading (FPSO) vessel from one field to tap oil from...
Industry Insight

Increased activity on Guyana FPSOs, rising variation orders counterbalance H1 revenue dip – SBM Offshore 

OilNOW -
SBM Offshore reported a 15% drop in directional revenue for the first half of 2023 amounting to US$1.4 billion.  The company said the decline in revenue was largely driven by a decrease in directional turnkey revenue, which dropped to US$558...
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Look beyond the barrels for the success of Guyana’s oil industry – Ali 

President Irfaan Ali has urged Guyanese to measure the success of the oil industry by more than just the...

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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