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...

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...

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...

The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter, sweeter oil which refiners need to produce gasoline. With a sulfur level of 0.51% and...

Hundreds of Guyanese businesses are benefitting from a wide range of online training courses being offered by the Centre for Local Business Development (CLBD) as COVID-19 restrictions continue to prevent indoor sessions from being conducted. Since its establishment in 2017,...

Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half of 2020 with Guyana among just a few countries that recorded success during the period. Rystad Energy says this represents the...

Guyanese-owned Strategic Recruitment Solutions Inc (SRSGY) has taken another step forward in meeting international compliance requirements by Completing TRACE Certified Due Diligence. TRACEcertification is a heavily benchmarked and comprehensive due diligence review, analysis and approval process establishing that an individual or...

Total and its partners have announced the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the deepwater Santos Basin pre-salt offshore Brazil. With a productive capacity of 150,000 barrels...

A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that the move will improve exploration and production companies’ short-term liquidity and reduce breakeven prices for future development projects by...

Equinor has awarded two contracts and issued a letter of intent to TechnipFMC for pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS). The projects in scope are Breidablikk and the Gas Import System for the...