By 2027, US$55 billion would have been invested in oil and gas projects in Guyana by ExxonMobil and its co-venturers Hess and CNOOC. This commitment is based on the terms of the 2016 Stabroek Block Production Sharing Agreement. “Any change...

The recent Final Investment Decision (FID) in Block 58 has reaffirmed the Guyana-Suriname Basin's position as one of the most promising oil exploration regions in the world. According to Schreiner Parker, Managing Director for Latin America at Rystad Energy,...

President of Guyana, Dr. Mohamed Irfaan Ali, announced during an October 10 Parliamentary address that starting from the January 2025 semester, tuition fees will be completely abolished at the University of Guyana.  The measure is expected to benefit over 11,000...

Debottlenecking efforts at the Liza Unity floating production, storage and offloading (FPSO) vessel could boost its output to 270,000 barrels per day (b/d).  ExxonMobil Guyana President, Alistair Routledge, said the vessel underwent debottlenecking in July during a shutdown of the...

The Guyana government is seeking a consultant to review and evaluate ExxonMobil's proposed Hammerhead oil development, its seventh offshore project.  A request for expressions of interest, issued through the Ministry of Natural Resources, aims to secure consulting services with part...

Rystad Energy has reported a continued rise in the cost of developing new upstream oil projects, driven by inflation and supply chain issues. The latest research shows that the average breakeven cost for non-OPEC oil projects has climbed to...

TotalEnergies' Gran Morgu project is set to create thousands of jobs, including 2,000 direct jobs over its lifetime. Meanwhile, the Total-led group plans to spend US$1-1.5 billion in Suriname as part of its development program for the Gran Morgu...

The GranMorgu Development is being seen as a historic milestone in Suriname’s oil and gas sector. “What seemed like a distant dream is becoming a reality,” said Annand Jagesar, Managing Director of state oil company Staatsolie.  According to Staatsolie, the name...

Trinidad and Tobago's Ministry of Energy and Energy Industries (MEEI) has finalized a Production Sharing Contract (PSC) for Block Modified U(c) with BG International Limited (BGI), a subsidiary of Shell. The signing took place on 27th September 2024 at...

After a July of shutdowns at the Liza field, crude oil production has returned to more than 600,000 barrels per day (b/d) in August.  The shutdowns for the connection of a natural gas pipeline lasted July 2-15 for Liza 2,...