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Total eyes deepwater expansion to 2025, scope for new projects

(S&P Global Platts) Total expects its deepwater oil and natural gas production to grow by more than 40% to around 500,000 b/d of oil equivalent by 2025 on the back of new projects in offshore Brazilian and Gulf of...

Brazil cuts oil royalties to boost recovery rates

(Argus Media) Brazil's hydrocarbons regulator ANP reduced royalties to 5pc from around 10pc in an effort to boost recovery at qualifying mature fields. The royalty reduction is contingent on new investment commitments and only applies to those fields that have...

Tullow Oil abandons Namibia well

Reuters) - Africa-focused Tullow Oil will abandon its first well in Namibia, but data gathered in the project indicated it might strike lucky in another attempt, the company said on Monday. “The Cormorant-1 exploration well in the PEL-37 licence, offshore...

‘Make cost recovery audit public; amend Procurement Commission Act’ – Persaud

On the heels of nine major discoveries offshore Guyana by ExxonMobil and its partners HESS and CNOOC Nexen and with the recent announcement of a major resource estimation by Eco-Atlantic, former Minister of Natural Resources and the Environment Robert...

Letter: Pressing questions for PM Rowley ahead of MoU signing

Dear Honourable Prime Minister, Welcome to Guyana! I note your newly-birthed excitement to visit Guyana and to partake in our oil and gas ‘prosperity.’ As someone, who still believes in the potential of the CARICOM project, it is always comforting when...

Call for halt to oil production is ‘self-promoting stunt in pursuit of ulterior motive’ – former minister

Debate on a myriad of issues continues in Guyana as the country gears up to become a major oil producer in the region. A former government official is describing as ‘disturbing’, a recent call for the Guyana government to...

Total farms into Guyana’s Orinduik block; Tullow to remain operator

French super-major Total has exercised its option to purchase a 25% working interest in the Orinduik block offshore Guyana for USD 12.5 million. This comes on the heels of partner Eco Atlantic Oil & Gas’ announcement that the block has...

Saipem America provides internship for Guyanese students

Liza SURF contractor Saipem has collaborated with the University of Guyana and the Government Technical Institute to facilitate an internship programme for four Guyanese students in the United States of America. They will conduct their internship from September to...

Majors ramping up oil hunt in Guyana-Suriname ‘mirror basin’

As offshore exploration activities ramp up across the Guyana-Suriname basin, oil majors are also turning their attention to the opposite side of the Atlantic in a rush to tap into vast reserves. Bloomberg reports that the world’s biggest companies from Exxon...

GOGA, Marak set to stage 1st local content conference in Guyana

Following the massive oil discoveries offshore Guyana, the Guyana Oil and Gas Association (GOGA) says the country has an opportunity to achieve a new path of sustainable economic growth and development; through applicable Local Content Policies and Strategies that...

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Exxon ramping up capacity to produce nearly 2.2 million boe/d in Guyana by 2030

ExxonMobil Guyana is on track to ramp up its capacity to produce oil, condensate and gas at almost 2.2...