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Exploration

Exploration success on decline globally while Guyana continues to add billions of barrels

OilNOW -
The success rate of global conventional oil and gas exploration has declined in recent years, but the most painful blow has been to onshore wildcat wells, a Rystad Energy analysis reveals. In 2020, the success rate of these drilled...
News

Total confirms plans underway to deliver first oil at Suriname Block 58 by 2025

OilNOW -
French oil major total has confirmed that plans are underway to begin developing oil fields at Suriname’s Block 58 as early as 2025, around five years after the first major discovery was made at Maka Central-1, mirroring the rapid...
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Liza Phase 1 Environmental Permit allows for flaring during process upsets, maintenance events

OilNOW -
The Environmental Permit issued to ExxonMobil Guyana on June 1, 2017 by the Environmental Protection Agency (EPA) for the Liza Phase 1 Development allows for flaring under certain conditions and outlines measures that should be compiled with when such...
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Resource potential of Guyana-Suriname basin exceed 18 billion boe – ExxonMobil

OilNOW -
The resource potential of the Guyana-Suriname basin where ExxonMobil has to date made a total of 19 discoveries (18 in Guyana and 1 in Suriname) is estimated to contain more than 18 billion barrels of oil equivalent resources, the...
Exploration

Guyana, Suriname leading Caribbean drilling – what about T&T?

OilNOW -
Originally published in the Geological Society of Trinidad and Tobago (GSTT) HAMMER Magazine – February 2021 The CARICOM region is now one of the hot spots globally for oil and gas activity, with most of the drilling taking place in Guyana...
News

Another local company fabricating fixtures for massive incoming oil production vessel

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Guyana Oil and Gas Support Services Inc. (GOGSSI) is the second local company to be recognized in as many days for providing fabrication services for the Prosperity Floating Production Storage and Offloading (FPSO) vessel being built by SBM Offshore...
News

Major local content milestone for Guyana as FPSO fabrication work being done in country

OilNOW -
Guyanese company, Industrial Fabrications Inc. (InFab), is one of two companies that were awarded contracts from SBM Offshore in Guyana to provide fabrication services for the Prosperity Floating Production Storage and Offloading (FPSO) vessel that is being built for...
News

Suriname looking to follow Guyana in major oil production ramp up, no plans to delay

OilNOW -
Suriname is forging ahead with its offshore oil and gas exploration activities and is targeting 2025 for first oil in a rapid production ramp up similar to its western neighbour Guyana where oil production began just under 5 years...
News

Concerned about ‘oil leaving underground’ Colombia looking to boost pace of investments

OilNOW -
Colombia, which holds regular licensing rounds to invite investment in its upstream sector, has recently undertaken what National Hydrocarbons Agency President Jose Armando Zamora called a "full review of our contract offering for bidding rounds," building on its attractiveness...
News

South American basin with abundant oil resources giving rise to fierce competition

OilNOW -
Some are calling it the last major hydrocarbon frontier while others see it as the Holy Grail of oil and gas. The Guyana Suriname Basin (GSB) has now become a major hotspot for petroleum exploration and production and is...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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