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Risk and reward: less than 9 months to first oil

OilNOW -
With roughly less than nine months to go until first oil, there is great anticipation of the positive impact that oil revenues would potentially have on Guyana’s economic development. The 13 discoveries made by ExxonMobil thus far do not only...
Exploration

Tullow spuds Guyana wildcat; results expected in August

OilNOW -
UK-based Tullow Oil and its joint venture partners have spudded their first well at the Orinduik Block offshore Guyana located just miles away from the multi-billion-barrel Stabroek Block where US oil major ExxonMobil has to date made a record...
News

Guyana did not receive signing bonus from Frontera-CGX farm-in – Dept. of Energy clarifies

OilNOW -
When Frontera Energy Corporation acquired a 33.33 percent share in CGX Energy’s license for exploration in the Corentyne and Demerara offshore blocks in 2018, the Guyana government did not receive revenue from this deal since it was a business-to-business...
News

Major O&G summit on Guyana begins July 3 in London

OilNOW -
As one of the few major new conventional oil regions discovered this century, Guyana is set to be transformed over the course of the next decade, with the country predicted to emerge as a top per capita producer of...
News

TechnipFMC bags India subsea contract

OilNOW -
TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded subsea contracts by Reliance Industries Limited for the MJ1 field located in deep water offshore India in the Krishna Godavari basin. The company says these contracts cover the fabrication and installation of...
Exploration

Guyana mega oil potential to be tested in 2019

OilNOW -
Multiple commercial oil discoveries at Guyana’s Stabroek Block have established the country as a key up and coming producer in the region. And now, as exploration activities ramp up at other blocks outside Stabroek, a discovery could push the...
News

Guyana is the fastest growing economy in the world – says Nasdaq contributor

OilNOW -
Fueled by mega oil discoveries and production set to hit close to 1 million barrels per day by the mid-2020s, the South American country of Guyana is listed at number 1 among the 5 fastest growing economies in the...
News

ExxonMobil’s sale of Norwegian assets could be record-breaking

OilNOW -
US supermajor ExxonMobil is looking to sell its Norwegian upstream assets. The portfolio has an estimated value of $3.1 billion, according to Rystad Energy. Rystad Energy partner Simon Sjøthun notes that a sale of this magnitude could be the largest...
News

Orinduik drill campaign will open new chapter in Guyana oil development

OilNOW -
Offshore exploration in the South American country of Guyana is moving into another phase as UK-based Tullow Oil embarks on a drill campaign at the Orinduik block, making it the first attempt to find oil by a company outside...
Exploration

Guyana is one of the main beneficiaries of deepwater reinvention

OilNOW -
Deepwater and tight oil are two of the great growth themes in the oil and gas industry, but are often considered to be at opposite ends of the development spectrum. Deepwater represents large, expensive and complex long-cycle projects best suited...
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Latest News

NewsKemol King -

Cobalt Nova tanker takes double-lift from Guyana’s Liza field to Panama 

A very large crude carrier (VLCC), the Cobalt Nova, executed a double lift offshore Guyana, transporting two million barrels...

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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