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TT facing unprecedented economic crisis – former energy minister

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Caribbean petroleum producer Trinidad and Tobago is facing an unprecedented economic crisis fueled by a downturn in LNG and oil prices which former energy minister Kevin Ramnarine says only careful planning and a reality check can avert. “Folks we are...
News

Guyana oil production will help counter structural declines from mature countries – WoodMac

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Mature oil and gas provinces such as the North Sea will be able to maintain output levels into the mid-2020s but new producers such as Guyana will play a key role in helping to counter declines in a number...
News

Explorers identify 22 prospects on Orinduik Block with some having over 30% chance of success

OilNOW -
Explorers at the 1,800 km2 Orinduik Block offshore Guyana have identified 22 prospects including 11 leads in the Upper Cretaceous horizon, the majority of which have over a 30 percent or better chance of success. This is enhanced by the...
News

Price stability will have greatest impact on Guyana oil revenue – Robert McNally

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The revenue Guyana receives from development of its multi-billion barrel oil resources offshore will be ultimately determined by price stability in the oil market which an expert in the industry says is largely dependent on there being a swing...
News

Guyanese manpower company gets international certification

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A 100 percent Guyanese-owned manpower services company has acquired Maritime Labor Convention (MLC) 2006 certification even as it moves to provide human resources not only to the offshore oil and gas operations in Guyana, but also to countries in...
News

Guyana production on path to rival OPEC top guns

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It is estimated that by the mid-2020s to 2030, oil production in Guyana could hit 750,000 barrels per day but this figure may ‘underestimate the country’s production’ the American Security Project (ASP) has said. ASP said unlike other recent discoveries...
Exploration

Eco fully funded, drill-ready to pursue light oil prospects at Orinduik

OilNOW -
Eco Atlantic Oil & Gas, junior partner at the Orinduik Block offshore Guyana, says it is drill-ready and fully funded to pursue additional prospects on the block as the search for high quality hydrocarbons continue. In 2019 the company drilled...
Exploration

Most competitive deepwater projects will be those with shortest development cycle times – IHS Markit

OilNOW -
From discovery in 2015 to production in 2019, the Liza Phase 1 development offshore Guyana is considered to be one of the fastest deepwater project ramp-ups in the industry’s history. London–based IHS Markit said in a report this month...
News

Just how good is Guyana’s crude oil?

OilNOW -
Following ExxonMobil’s commercial discovery at the giant Liza field in the Stabroek Block offshore Guyana in 2015, it was confirmed that the oil found is of ‘high quality’. The term “High Quality” is commonly used to refer to crude...

lcp

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Introduction 1.1 A Governance Policy is a system of principles that is implemented as a procedure or protocol that guides the Government’s objectives supported by through the use of regulations, laws, regulations, guidelines and other instruments to deliver better economic...
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Latest News

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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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