Guyanese regulators have approved MODEC’s Local Content Master Plan 2024-2028.  The plan outlines MODEC's push to integrate Guyanese companies and nationals into its operations for a five-year period. Procurement opportunities for Guyanese companies are already being unveiled, with about 32 announced...

Baker Hughes has been awarded significant contracts by Petrobras to supply 77 kilometers of flexible pipe systems for Brazil’s pre-salt fields. The agreements, signed on October 15, 2024, followed an open tender and cover risers, flowlines, and services across...

ExxonMobil’s Chief Financial Officer, Kathy Mikells reported a 60% year-on-year increase in crude oil production offshore Guyana, during the third-quarter earnings call.  This growth contributed to an overall production rate across the company, of 4.6 million oil-equivalent barrels per day—its...

Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announced on Thursday the start of production of the floating production storage and offloading facility (FPSO) Marechal Duque de Caxias in the Mero field, in the pre-salt area...

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output from projects like the Payara development in Guyana.  CNOOC’s total net production in the first three quarters reached 542.1 million barrels...

ExxonMobil is gradually increasing production offshore Guyana reaching an average of 660,000 barrels per day (b/d). Liza 1 and 2 averaged approximately 160,000 b/d and 251,000 b/d, while Payara averaged 249,000 b/d. These production levels resulted in output of nearly...

Guyana’s maritime sector is poised for exponential growth alongside its burgeoning oil and gas industry, with a new generation of marine professionals stepping up to the challenge. Addressing the latest Marine Cadet Programme graduates from the MATPAL Marine Institute...

Guyana is set to witness the startup of its fourth oil development, Yellowtail—one of the largest investments ever made in the country. Priced at US$10 billion, this project is spearheaded by ExxonMobil and its Stabroek Block partners Hess and...

With nearly five years of oil production so far, Guyana has received more than US$5 billion in revenue from oil sales and royalties. With this new injection of revenue, the government has already withdrawn nearly half of this amount...

Stena Drilling will host its Guyana Vendor Day on November 13, 2024, at the Centre for Local Business Development Inc. (CLBD) in Georgetown.  The event aims to connect local businesses with Stena’s procurement team, offering insights into...