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Energy Department wants oil money to be used for ‘no-regrets investments’

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Guyana’s Department of Energy wants oil revenue to be used to pursue investment initiatives that are feasible and intends to advise government against plugging cash into ventures that could result in future regrets. So says Energy Department Director Dr....
News

Stabroek co-venturer CNOOC’s net profit surge at H1 2019

OilNOW -
In announcing its interim results for the six months ended June 30, 2019, CNOOC Limited said on Thursday in the first half of the year the company made 16 new discoveries – of which 3 were made in Guyana...
Exploration

S-Cube algorithm helped Tullow strike oil at Guyana well

OilNOW -
(Offshore Energy) Tullow Oil has discovered oil at its Jethro-1 well in Guyana using the XWI algorithm developed by technology company S-Cube. The XWI algorithm allows entirely data-driven earth model building with more automation and accuracy. The cloud solution helps...
News

Total, Qatar Petroleum ink asset transfer deals

OilNOW -
French oil major Total said Tuesday Qatar Petroleum is farming into its offshore acreage in Namibia, Kenya and Guyana, further strengthening their international partnership, Kallanish Energy reports. Following approval of the deals, Qatar Petroleum will gain a 30% stake in Namibia’s Block...
News

TechnipFMC’s 600th subsea tree arrives in Brazil for installation at Guyana’s Liza field

OilNOW -
UK based oil services company TechnipFMC recently celebrated the delivery of the company's 600th subsea tree in Brazil, which will be installed at ExxonMobil’s Liza field offshore Guyana. The event, which took place at the company’s assembly plant in Rio...
News

Tullow spuds second Guyana wildcat at Orinduik

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Tullow Oil’s junior partner at the Orinduik Block, Eco (Atlantic) Oil & Gas Ltd. on Tuesday announced that it has commenced drilling of the Joe prospect offshore Guyana. The company spud Joe-1, the second exploration well on the Orinduik...
News

TechnipFMC to separate into two companies

OilNOW -
TechnipFMC plc (NYSE: FTI) (Paris: FTI) on Monday said is its Board of Directors had unanimously approved its plan to separate into two industry-leading, independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider, continuing to drive energy development;...
Uncategorized

Royalties and taxation policies for Guyana’s oil sector

OilNOW -
Successive Guyanese governments will essentially be relying on royalty and taxation measures to capture a “reasonable” share of the economic rents from Guyana Basin oil exploitation. This practise has also been followed by other host governments in geographic areas...
News

Positive O&G outlook will drive Guyana’s GDP higher over next 10 years – Fitch Solutions

OilNOW -
Financial information services provider Fitch Solutions says the first oil discovery outside the Stabroek block will serve to buoy investor sentiment to projects in deepwater Guyana more broadly while pointing out that the positive outlook for oil and gas production will...
News

Tullow days away from spudding 2nd wildcat off Guyana coast

OilNOW -
Tullow Oil will soon spud its second wildcat at the 1800 km2 Orinduik Block offshore Guyana with results expected in mid-September. Junior partner on the block, Eco Atlantic Oil and Gas, says the Stena Forth drillship, which made the...
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Keystone Consulting debuts at OTC: set to deliver grounded market intelligence on Guyana, region 

Houston, Texas, United States - Keystone Consulting (Guyana) Inc., a new research, marketing, and business intelligence firm, was officially...

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