The Errea Wittu floating production, storage, and offloading vessel (FPSO) is expected to be the largest unit in ExxonMobil’s offshore Guyana fleet. This was shared by Country President Alistair Routledge during a recent MODEC event. MODEC is currently constructing the...

TechnipFMC reported total revenue of US$2,233.6 million in the first quarter of 2025, with net income (attributable to the company) of US$142 million, or US$0.33 per diluted share.  TechnipFMC said its after-tax charges and credits totaled US$0.9 million in expenses....

Subsea tree unit awards slumped to 32 in the first quarter (Q1) of 2025, marking a 65% quarter-over-quarter decline, according to Westwood’s Global Subsea Tracker. The drop reflects ongoing macroeconomic challenges and inflation-driven delays in project approvals and contract...

The start-up of ExxonMobil’s Yellowtail Development in the Stabroek Block draws near as the ONE GUYANA floating production, storage and offloading vessel (FPSO) officially arrived in country today.  On the vessel’s arrival, Minister of Natural Resources, Vickram Bharrat, shared, “The...

Italian engineering firm Saipem has been granted a Limited Notice to Proceed (LNTP) from ExxonMobil Guyana Limited for subsea structures, umbilicals, risers, and flowlines (SURF) work at the proposed Hammerhead oil field development in the Stabroek Block.  The project site...

TechnipFMC has won a major integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract from Shell for the Gato do Mato greenfield development offshore Brazil. The project will incorporate TechnipFMC’s Subsea 2.0® configure-to-order subsea production systems, streamlining project management through a...

TechnipFMC reported a strong financial performance for the full year 2024, with total revenue of US$9,083.3 million and net income attributable to the company of US$842.9 million, or US$1.91 per diluted share. After-tax charges and credits, including a gain...

ExxonMobil Guyana has awarded a contract to energy technology company Baker Hughes to supply specialty chemicals and related services to its Uaru and Whiptail offshore greenfield developments in Guyana’s Stabroek block.  Baker Hughes said the multiyear contract includes all topsides,...

According to Westwood's Global Subsea Tree Tracker, the global subsea tree market closed 2024 with 255 units awarded, an 11% drop quarter-on-quarter and a 12% year-on-year decline. In 2025, global demand is forecast to...

Staatsolie said Suriname’s first oil development in the shared basin could cost US$13.2 billion. This would represent the highest development expense for such a project, costing more than any of the six projects already sanctioned for nearby Guyana in the same...