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Consumers to see immediate 50% power cost reduction with Gas-to-Energy project

OilNOW -
Guyana’s Vice President Bharrat Jagdeo has assured that consumers will benefit from a 50% reduction in power costs almost immediately after the Gas-to-Energy project becomes operational.  “I don’t know if it will be one day, a week, or so, but...
News

Pre-FEED work begins on Woodside Energy’s Calypso project offshore TT 

OilNOW -
Pre-FEED engineering work has commenced on Woodside Energy’s Calypso Project, located 220 km off Trinidad's coast in water depths of 2,100 meters. This development follows the completion of conceptual studies and the selection of an infield host as the...
News

Firm needed to operate, maintain 300 MW Gas-to-Energy power plant

OilNOW -
The Government of Guyana has issued a Request for Proposals (RFP) seeking qualified firms to manage the operations and maintenance (O&M) of a 300-megawatt (MW) power plant and related auxiliary facilities as part of the Gas-to-Energy Project. This power...
News

TotalEnergies’ Block 58 project key to US$31 billion offshore O&G spend forecast – Westwood 

OilNOW -
TotalEnergies' Block 58 development offshore Suriname is a major contributor to an expected US$31 billion offshore oil and gas expenditure for the remainder of 2024, according to Westwood forecasts. The project will tap into an estimated 700 million barrels...
News

GYSBI expands scholarship programme amid Gas-to-Energy project commitment

OilNOW -
The Guyana Shore Base Inc. (GYSBI) has awarded technical scholarships to eleven outstanding students as part of its commitment to community development as it undertakes critical work on the Gas-to-Energy project at Wales, West Bank Demerara. GYSBI in a release...
News

Awards to PetroChina bring total contracted area offshore Suriname to 46%

OilNOW -
Staatsolie announced that after the signing of production sharing contracts for Blocks 14 and 15 with PetroChina Investment Suriname B.V., nearly 46% of Suriname's offshore area is now under contract.  PetroChina, a subsidiary of China National Petroleum Corporation (CNPC), obtained...
News

US EXIM Bank working to take Guyana gas loan request to Board by October

OilNOW -
The United States Export-Import Bank (EXIM) is working to take a loan request from Guyana for US$646 million, to its Board in October. This is according to the country’s Vice President, Bharrat Jagdeo.  The funding is being pursued in support of...
Exploration

Exxon’s gas wells take spotlight in global upstream activity for August – Rystad Energy

OilNOW -
ExxonMobil's gas exploration efforts in August were a key focus in oil and gas upstream activities, according to a recent report from Rystad Energy. The U.S. supermajor achieved success with the completion of its non-operated Sloanea-2 appraisal well on...
News

bp divests mature Trinidad assets to focus on gas growth opportunities

OilNOW -
bp is selling its mature offshore gas fields in Trinidad and Tobago to focus on shallow water, deepwater, and cross-border gas opportunities. The company said it has entered into an agreement with Perenco to divest its Immortelle, Flamboyant, Amherstia,...
News

GYSBI issues tender for shorebase dredging and hydrographic survey

OilNOW -
Guyana Shore Base Inc. (GYSBI) has announced an invitation to tender for Basin Dredging and Hydrographic Survey activities at its Houston, East Bank Demerara shore base.  “The project covers a 475-meter by 30-meter area adjacent to Berths 1 to 4,...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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