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MODEC to supply largest ever FPSO to Brazil for production at giant ‘pre-salt’ region

OilNOW -
MODEC, Inc.  said Thursday it has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltda, a subsidiary of Equinor ASA, to supply a Floating Production Storage and Offloading (FPSO) vessel for the Bacalhau (formerly Carcará) field...
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Development drilling for giant Liza Phase 2 project set to begin next month

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Development drilling for the 220,000 barrels per day Liza Phase 2 project offshore Guyana will begin next month as US oil major ExxonMobil ramps up its operations at the 6.6 million acres Stabroek Block where more than 8 billion...
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Liza Unity floater will push Guyana’s total oil production to 340,000 bpd by 2022

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Double the capacity of the Liza Destiny FPSO, the Liza Unity – the vessel that will begin producing oil at Guyana’s second offshore development - is SBM Offshore’s first generic Multi-Purpose Floater (MPF1) hull in its series of hulls...
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Liza Phase 1 cost expected to be around US$1 billion below budget

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Development cost for the 120,000 barrels per day Liza Phase 1 project offshore Guyana has been reduced by close to US$1 billion according to an official of Hess Corporation, a 30 percent co-venturer at the 6.6 million acres Stabroek...
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Brazil to stay out of OPEC to make the most of output expansion

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(Bloomberg) Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC. The South American nation expects to be among the top-five energy exporters by 2030, and is tapping private...
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Extracting multi-billion-barrel oil resource at optimum pace key to maximising value – Exxon

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With several billion barrels of oil equivalent already discovered and the potential for more being found remaining high, developing the resources at optimum pace will ensure highest returns for the South American country of Guyana and the Stabroek Block...
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DE to collaborate with transparency body for disclosures on Guyana’s oil sales

OilNOW -
As the Guyana government prepares to sell its first oil lift from the Liza Phase 1 development in the prolific offshore Stabroek Block, the Department of Energy sees collaboration with the Guyana Extractive Industries Transparency Initiative (GYEITI) as integral...
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Guyana oil production could’ve started in 2024 – Liam Mallon

OilNOW -
Average industry performance would’ve seen Guyana becoming an oil producing nation until almost the middle of the decade if efforts to safely fast-track the Liza Phase 1 Development were not made by stakeholders. Speaking to a room filled with guests...
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“Don’t spend money you don’t have’ warns oil expert

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Guyana, now poised to be the biggest per capita oil producer in the world in coming years, has a unique opportunity having now entered the oil and gas industry, to learn from the multitude of mistakes made by other...
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Giant Liza Phase 2 project among top 15 approved worldwide for 2019 – Rystad Energy

OilNOW -
Energy sector analyst Rystad Energy has ranked the Liza Phase 2 development at the 6.6 million acres Stabroek Block offshore Guyana as being among the top 15 approved offshore projects in the world for 2019 in terms of capital...
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Tourism minister calls for cultural shift, stronger service standards to power Guyana’s next economic phase

Tourism, Industry, and Commerce Minister Susan Rodrigues has called for a national cultural transformation to align with Guyana’s rapid...

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