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Payara approval will trigger massive demand for goods, services in Guyana – GOGEC

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The sanctioning of ExxonMobil’s third development at the Stabroek Block offshore Guyana on Wednesday has already triggered a flurry of activities by contractors who will be now be looking to move ahead with various aspects of the project, set...
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US$9 billion Payara Development is largest investment in Guyana’s history

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The US$9 billion Payara Development targeting an estimated resource base of around 600 million oil-equivalent barrels is the largest investment in Guyana’s history, and combined with Liza 1 and 2, will push the country’s production to more than half...
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Guyana approves ExxonMobil’s 220,000 bpd Payara Development, company moves to FID

OilNOW -
The Guyana Government on Wednesday announced the approval of the 220,000 bpd Payara Development - ExxonMobil’s third project offshore the South American country, paving the way for the company’s Final Investment Decision (FID). The $9 billion development, targeted for start-up...
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Shell to cut up to 9,000 jobs in low-carbon transition

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(Reuters) - Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy. Shell, which had...
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Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

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Countries which lack the necessary skills and experience in the oil and gas industry run the risk of slowing down development of their petroleum resources if local content requirements are not realistic and lack flexibility. So says Angele Ramsaransing-Karg, Manager...
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Guyana oil revenue will more than double T&T’s and quadruple Suriname’s – Rystad Energy

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The South American country of Guyana is on course to receive the highest estimated total income from its multi-billion-barrel oil and gas resources when compared to both Suriname and Trinidad and Tobago (T&T), under various oil price scenarios. This...
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Saipem Guyana operations supported by 80 percent local workforce – Managing Director

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Since starting operations in Guyana in May 2018, Italian multinational oilfield services company Saipem has established a country office with 80 percent of its workforce now being Guyanese. Saipem has been awarded contracts by ExxonMobil for the Engineering, Procuring, Construction...
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E&P companies took up combined debt of $72 billion in Q2 2020 – EIA analysis

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The United States Energy Information Administration (EIA) said its latest analysis has found that debt levels among Exploration and Production (E&P) companies spiked during the second quarter of 2020 illustrating the immediate impact of reduced oil demand and prices...
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Exxon shortlists bidders for multi-billion dollar assets sale in Malaysia

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(Bloomberg) --Exxon Mobil has narrowed the list of bidders for its oil-producing offshore assets in Malaysia that could potentially raise $2 billion to $3 billion in a sale, according to people with knowledge of the matter. U.K.-listed EnQuest Plc and...
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BP share price drops to 25-year low a week after it revealed plans to pursue clean energy

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(Bloomberg) --Just a week after revealing its plan to turn itself into a clean-energy giant, BP Plc watched its share price drop to a 25-year low.        Chief Executive Officer Bernard Looney and his new management team gave more than 10...
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French firm gets five-year tech support contract from ExxonMobil Guyana

French geophysical technology company Sercel announced on Tuesday that it has been awarded a five-year contract for technical support...

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