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Suriname deepwater becoming more attractive as Guyana remains stuck in political conflict

OilNOW -
The people of Suriname went to the polls on May 25 and a new President is now in place with a pledge to “reconstruct” the country’s natural resources. No doubt, the newly discovered petroleum resources will be a priority...
Exploration

Heavy oil at Orinduik similar to North Sea, Gulf of Mexico commercial crude

OilNOW -
The heavy oil discovered in 2019 at the Orinduik block offshore Guyana is similar in quality to crude being produced and commercialized in several parts of the world, including the US Gulf of Mexico, North Sea and Brazil’s Campos...
News

ExxonMobil submits application for Kaieteur block activities

OilNOW -
ExxonMobil has submitted a block-wide application for environmental authorization to conduct oil and natural gas activities on the deepwater Kaieteur block, company spokesman Todd Spitler is quoted as saying in an S&P Global Platts report this week. The Kaieteur block...
News

Undemocratic leanings pushing Guyana’s risk profile up and harming oil potential

OilNOW -
On Wednesday, the United States of America announced that visa restrictions would be imposed on those individuals who, whether part of or connected to the government, indulged in continued efforts to stymie the conclusion of the 2020, General and...
News

Elections impasse puts millions of barrels and billions of dollars on the line for Guyana – Rystad Energy in new report

OilNOW -
Country could lose up to US$1.6 billion from delays in project approvals for Payara-Pacora development Up to 75 million barrels of oil on the line The prolonged delay in concluding the highly contested Guyana elections is becoming...
News

FPSO awards set to bounce back next year as Guyana’s Payara, other projects expected to take off

OilNOW -
Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely be limited to a single unit in 2020, Rystad Energy believes, as exploration and production firms slash budgets...
News

Post-election chaos could threaten long-awaited oil windfall in Guyana

OilNOW -
By David E. Lewis and Anthony T. Bryan - Caribbean News Global At the end of last year, the tiny South American nation of Guyana made headlines as the country predicted to register the world’s fastest economic growth rate in...
News

Apache gets discovery of the year award for Suriname’s Maka Central oil strike

OilNOW -
US independent Apache Corporation has scooped up the discovery of the year award for its Maka Central-1 oil strike off the coast of Suriname, announced on January 7. The award was made in conjunction with Wood Mackenzie’s industry-leading annual Exploration...
News

Saipem secures US$325 million contract for Búzios pre-salt field in Brazil

OilNOW -
Italian multinational oilfield services company Saipem said on Monday it has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshore...
News

Guyana oil potential remains strong, but country must avoid becoming another Venezuela

OilNOW -
Venezuela, the country with the largest proven oil reserves in the world, continues to experience a rapid decline in output, reaching just around 300,000 b/d at the start of July – the lowest in several decades. The United States Congressional...
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Energy Chamber Head urges Guyanese youths to embrace long-term opportunities in oil sector 

President of the Guyana Oil and Gas Energy Chamber (GOGEC), Manniram Prashad, has called on Guyanese youth to embrace...

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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