Suriname is set for a wave of oil and gas exploration, with industry giants Shell, TotalEnergies, and Chevron leading efforts to tap into the country’s promising offshore reserves. Operators plan to drill around 10 wells between 2025 and 2027...

Suriname’s state oil company Staatsolie could use revenues from its participation in the US$12.2 billion Block 58 offshore oil development to help finance its expected stake in the upcoming Block 52 gas project, according to consultancy Wood Mackenzie. Staatsolie has...

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...

Local businesses in Guyana are now providing 100% of several key services to the oil and gas sector, showing advancements in local content development. Dr. Martin Pertab, Director of Guyana’s Local Content Secretariat outlined these achievements at the recently...

The Bacalhau floating production storage and offloading (FPSO) unit has arrived at its final destination in the Santos Basin offshore Brazil, where it will operate at Equinor’s field. The 370-meter-long vessel, built by Japanese firm MODEC, completed a two-month...

Guyana’s Natural Resource Fund (NRF) received US$230 million (GY$48 billion) in deposits in January. These included payments for two lifts of crude oil sold in December and royalties for crude oil produced and sold in the fourth quarter of...

The Local Content Secretariat (LCS) has launched the Local Content App, a digital tool designed to improve access to opportunities in Guyana’s oil and gas sector. The app provides real-time notifications on supply and job opportunities, making it easier...

Guyana wants to offer the Corentyne acreage to another operator after it finally cancels the license of the CGX Energy and Frontera Energy group.  Minister of Natural Resources Vickram Bharrat told Reuters the block, where CGX discovered oil and gas,...

China National Offshore Oil Corporation (CNOOC) last June delivered Haikui No. 1, a floating production storage and offloading (FPSO) unit built by Qingdao CNOOC Offshore Engineering.  The FPSO is the first in Asia to use a cylindrical design.  CNOOC said the...

Aiming to cut costs and streamline operations amid expansion efforts and a legal dispute, Chevron plans to reduce its global workforce by 15% to 20% by the end of 2026.  The legal dispute involves ExxonMobil over the acquisition of the...