Equinor and its partners have announced the boosting of production at the Statfjord Øst project offshore Norway. The initiative enhances the oil extraction rate, leading to an increase in production by a whopping 26 million barrels of oil equivalents...

The Brazilian government has potentially removed a significant obstacle, allowing Petrobras to explore an offshore region regarded as the nation's most promising area for oil drilling. The attorney general's office (AGU) has issued a statement asserting that the project does...

In a remarkable feat of technological advancement, Subsea7 has successfully conducted a remote piloting operation for a work class Remotely Operated Vehicle (ROV) from Scotland, covering a staggering distance of 9,400 kilometers to the coast of Brazil.  Developed in-house by...

MODEC, Inc. announced a significant milestone in its ongoing partnership with Petróleo Brasileiro S.A. (Petrobras) as the FPSO Anita Garibaldi MV33 successfully achieved first oil production on August 16, 2023. The vessel, now operational at the Marlim field in...

ExxonMobil’s Whiptail project is slated to target up to 72 wells to develop the fields. This was outlined in the Whiptail Environmental Impact Assessment (EIA) submitted to Guyana’s Environmental Protection Agency (EPA) for review and approval, on August 20.  “...EEPGL has...

A collaboration between Cargill, BAR Technologies, Mitsubishi Corporation and Yara Marine Technologies has the potential to decarbonize cargo vessels by up to 30 percentGENEVA--(BUSINESS WIRE)--Cargill and BAR Technologies’ ground-breaking innovation, BAR Tech WindWings by Yara Marine sets sail on...

Canadian oil explorer, CGX Energy Inc., has put its shareholders on notice that there is no guarantee its efforts to secure financing for a port facility in Guyana would be successful. Even if it is, the company warned that...

Petrobras has an ambitious investment plan totaling US$18 billion, slated for implementation until 2027. This strategy is focused on revitalising and expanding the renowned Campos Basin. The sizeable investment is earmarked for a multifaceted transformation, with a significant portion allocated...

The decision of Guyana regulators to apply a 10% royalty for future oil blocks was a just and studied one says Vice President, Dr. Bharrat Jagdeo. Had the government caved to the recommendations of the country’s political opposition to...

Vice President of Guyana, Dr. Bharrat Jagdeo said a facility being developed by CGX Energy in the South American country, styled by the company as the ‘Berbice Deep-Water Port’, “was never a deep-water port.”  “Deep-water port would be a port...