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BP, partners sanction $6 billion Azeri project

OilNOW -
BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea. BP said on Friday the $6 billion development...
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New milestone at Stabroek as first subsea tree installed

OilNOW -
The Liza Phase 1 Development has reached another incredible milestone—installation of the first subsea tree. A subsea tree monitors and controls the production of a subsea well. Affixed to the wellhead of a completed well, it can also manage fluids...
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FID and key terms in O&G industry

OilNOW -
FID is the Final investment decision to invest in a project, typically made by the board and executive committee of oil companies. At this point, major risks have been mitigated and concerns addressed. The project then moves to execution,...
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Africa Oil ups stake in Eco Atlantic ahead of Guyana drill campaign

OilNOW -
Canada-based Africa Oil Corp. (AOI–TSX, AOI–Nasdaq-Stockholm) said on Wednesday it had acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas Ltd. (TSXV: EOG or LSE: ECO) for US$1.05 per common share for a total consideration of US$4,999,998. The common...
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Chevron joins ranks of ultra-majors in US$50B powerhouse deal – could become operator of Roraima Block

OilNOW -
Chevron’s announcement on Friday that it was acquiring Anadarko in a US$50 billion deal will see it joining the ranks of the ultra-majors and puts it in position to potentially acquire the Roraima Block offshore Guyana, pending approval by...
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Keppel delivers world’s first EU Stage V dredger

OilNOW -
Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary, Keppel Singmarine Pte Ltd (Keppel Singmarine) has delivered the world's first European Union (EU) Stage V dredger on time, within budget and with a perfect safety record, strengthening...
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Rystad ranks Tilapia among top 3 discoveries for Q1 2019

OilNOW -
Norway-based Rystad Energy ranks the Tilapia discovery made by US oil major ExxonMobil off the Guyana coast in February as the third biggest conventional find for the first quarter of 2019. Cyprus’ Glaucus and South Africa’s Brulpadda were ranked...
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TechnipFMC secures subsea contract for Lapa Pre-Salt Field in Brazil

OilNOW -
UK-based TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a contract for the Lapa field by Total E&P do Brasil Ltda on behalf of the Lapa Field Consortium, comprised of Total (35%), Shell Brasil Petróleo Ltda. (30%), Repsol Sinopec Brasil...
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‘Total culture shift’ needed if Guyanese are to fully benefit from O&G – Dr. Bynoe

OilNOW -
Speaking to a capacity audience on Friday evening at the Revealed Word Christian Centre in Kitty, Georgetown, Director of Guyana’s Department of Energy (DE), Dr. Mark Bynoe told those gathered that winning a contract is not the only way...
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Upstream: SBM set to firm up third Fast4Ward order

OilNOW -
SBM Offshore is set to sign a commercial contract with Chinese yard China Merchant Heavy Industry (CMHI) this weekend to build the hull of a floating production, storage and offloading vessel under the Dutch floater specialist’s Fast4Ward design, Upstream...
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Special Editorial: Maduro’s bully tactics won’t get him another face-to-face with Ali 

The following is an opinion editorial by Shikema Dey, Research and Content Developer at OilNOW, and a seasoned Journalist...

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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