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A subsea giant could be in the making with Saipem, Subsea 7 merger

OilNOW -
A merger between Italian-based Saipem – one of ExxonMobil’s Prime Contractors for its offshore project in Guyana – and UK-based Subsea 7 would create a subsea giant in the oilfield services industry. Commenting on unconfirmed reports that such a merger...
News

Saipem clinches subsea contract for Payara project

OilNOW -
ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded a subsea contract to Saipem for the proposed Payara development project located in the Stabroek block offshore Guyana, at a water depth of around 2000 metres. Saipem said on...
News

Orinduik explorers remain confident of Guyana prospects – gunning for ‘lighter oil’

OilNOW -
While analysis of Tullow Oil’s recent discoveries at the Orinduik Block offshore Guyana has proven to be disappointing, the Joint Venture Partners remain confident of prospects offshore the South American country and will be updating their modelling to guide...
News

All eyes on multi-billion-barrel Atlantic Margin play

OilNOW -
Geologists and experts in the oil and gas industry have long been intrigued with similarities between the MSGBC Basin - Mauritania, Senegal, The Gambia, Guinea Bissau and Guinea Conakry, off the coast of West Africa and that of the...
Exploration

Iran says oil field found with more than 50 billion barrels

OilNOW -
(Associated Press) Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude oil, its president said Sunday, a find that could boost the country's proven reserves by a third as it...
News

No new oil blocks to be awarded in Guyana at least for another year

OilNOW -
South America’s newest oil and gas hotspot, Guyana, may not award any new oil blocks for at least another year as the country’s Department of Energy (DE) moves to put a number of measures in place which includes enhancement...
News

Liza Unity hull 85 percent complete

OilNOW -
The hull for the Liza Unity FPSO – Guyana’s second oil production complex – is now 85% complete as work on the 220,000 barrels per day vessel that will be producing oil from the Liza Phase 2 Development project...
News

Brazil oil auction a ‘total disaster’ as bidders stay away

OilNOW -
(Bloomberg) Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. Petrobras, as the company is known, joined with China’s Cnooc Ltd....
News

Demand for OPEC crude expected to slide as Guyana, other producers add to supply

OilNOW -
Demand for oil from the Organization of Petroleum Exporting Countries (OPEC) is expected to slide as the oil cartel’s market share shrink in coming years amid a flood of US shale and supply from countries like Guyana, where production...
News

Bristow emerges from bankruptcy with successful debt restructuring

OilNOW -
Bristow Group Inc. has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 4, 2019. Bristow said on October...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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