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TotalEnergies, QatarEnergy withdraw from South African offshore blocks

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TotalEnergies has announced its withdrawal from two offshore oil and gas blocks in South Africa. This decision follows the exit of its partner, QatarEnergy, from one of the blocks. TotalEnergies and QatarEnergy are both withdrawing from Block 11B/12B, off South...
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Guyana to remain carbon sink with Exxon’s Hammerhead and Gas-to-Energy projects

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Even with a string of massive oil developments being pursued offshore Guyana, the country will remain a net carbon sink for years to come, a study indicated.  Guyana’s Environmental Protection Agency (EPA) requested that ExxonMobil conduct an environmental impact assessment...
News

Offshore O&G sector poised for US$35 billion EPC surge this year 

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Westwood Global Energy Group forecasts an additional US$35 billion in offshore oil and gas (O&G) related engineering, procurement, and construction (EPC) spending for the remainder of 2024. This will be driven by approximately 125 subsea tree unit awards, 2,230...
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GYSBI handles arrival of ‘heaviest cargo’ for Gas-to-Energy project 

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Last week, Guyana Shore Base Inc. (GYSBI) witnessed the arrival of 16 transformers and 244 accessories for the Gas-to-Energy (GTE) and Guyana Power and Light (GPL) Enhancement Projects, the company said.  The BBC Echo Vessel successfully berthed at the Muneshwers...
Energy Insights

The key legal instruments governing Guyana’s oil and gas industry

OilNOW -
By Chevy Devonish In the first article of this column, I indicated the intention to map and distill the entirety of the legal framework directly (specifically governs oil and gas production and related activities) and indirectly (does not directly govern...
News

ABS to classify Seatrium’s new FPSOs for Petrobras in offshore digital collaboration

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Seatrium has awarded the American Bureau of Shipping (ABS) a classification contract for Petrobras' newbuild floating production storage and offloading (FPSO) platforms, P-84 and P-85. Final delivery is expected by 2029. These are the first FPSOs following the ABS...
News

Guyanese seizing opportunities in the oil and gas sector: From firefighter to search and rescue rear crew

OilNOW -
The prolific oil and gas industry in Guyana has been a focal point of economic development, fueling numerous opportunities for locals to participate and thrive. One such success story is that of Kevin Sawh, a 25-year-old who recently graduated as...
News

China Merchants Heavy Industry building Fast4Ward hull for Suriname’s first offshore project 

OilNOW -
The Multipurpose Floater C (MPF C) Fast4Ward hull reserved by SBM Offshore for Suriname’s US$9 billion offshore development is being fabricated by China Merchants Heavy Industry (CMHI). TotalEnergies reserved the hull in June.  According to a July 12 Upstream Online...
News

Petrobras and Brazil’s Cade amend natural gas and refining divestment deals

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Petrobras has signed an agreement with Brazil’s antitrust authority Cade, amending its natural gas and refining divestment deals. These deals, originally inked in 2019 during Jair Bolsonaro's administration, aimed to reduce Petrobras' dominant market position. In a statement, Petrobras affirmed...
News

Gas to Energy control center to monitor power outages in real-time

OilNOW -
The Gas to Energy project in Guyana will feature a state-of-the-art control center in Eccles, East Bank Demerara, to improve nationwide power reliability. This center will employ real-time monitoring to identify and address power outages promptly. Vice President Bharrat Jagdeo...
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Afreximbank COO pitches partnership for Suriname’s SMEs

PARAMARIBO, SURINAME – The African Export-Import Bank (Afreximbank) wants to be a long-term financial partner for small and medium-sized...

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