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TOTALTEC successfully completes 2nd equity finance raising

OilNOW -
TOTALTEC Oilfield Services Limited on February 28, 2018 successfully completed its second equity finance raising from a large international investor. However the price has not been disclosed. TOTALTEC is a partner in a major onshore infrastructure development project in Guyana...
News

Latin American nations compete for capital in surge of oil auctions

OilNOW -
For decades, many Latin America’s oil-producing nations have often shunned investment from foreign firms, instead keeping their vast reserves under the tight control of governments and state-run oil companies, Reuters states in a April 2 report. They aimed to protect...
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Bahrain’s biggest oil find since 1932 dwarfs reserves

OilNOW -
(Bloomberg) Bahrain, the smallest energy producer in the Persian Gulf, discovered its biggest oil field since it started producing crude in 1932, according to the country’s official news agency. The shale oil and natural gas discovered in a deposit off...
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No guarantee unprecedented rate of oil discoveries will continue – ExxonMobil Country Manager

OilNOW -
Despite the discovery of more than 3.2 billion barrels of oil off the Guyana coast, the South American country’s offshore basin still remains risky with no guarantee that the unprecedented rate of discoveries – seven to date – will...
News

Jamaica energy minister warns against unrealistic oil expectations

OilNOW -
Jamaica’s Minister of Science, Energy and Technology, Dr. Andrew Wheatley has warned against any unrealistic expectations of a financial windfall in the short term from the three-dimensional (3-D) seismic survey for offshore oil and gas exploration now getting under...
News

First cohort of TOTALTEC Academy starts oilfield training today

OilNOW -
The new TOTALTEC academy will today commence its Oilfield Operator Training Programme with a first cohort of 24 young Guyanese. TOTALTEC is one of the investors in the Guyana Shore Base Inc., which has been contracted by ExxonMobil Guyana to...
News

Guyanese urged to get out of poverty now before oil is left in the ground

OilNOW -
This is Guyana's chance to get out of poverty and the country should take it, since in the coming years a good deal of the oil discovered in the offshore basin, will remain just there. This is the advice...
News

Ghana defends ‘direct negotiation’ with ExxonMobil; says company best-positioned for ultra-deep operations

OilNOW -
Ghana’s Minister of Energy, Boakye Agyarko, says the Government signed an oil exploration contract with ExxonMobil to explore for oil in the Deeperwater Cape Three Points Oilfields because it has the capacity to deliver. According to a Ghana Broadcasting Corporation...
News

‘Netflix for Oil’ setting stage for $1 trillion battle over data

OilNOW -
(Bloomberg) A battle for big data is brewing in the oil patch. The service companies that map underground pockets of oil, drill the wells and lift crude from miles below are generating vast new amounts of data they never...
News

Saipem in hunt for manpower agency, medical services provider in Guyana

OilNOW -
SURF contractor for the Liza Phase 1 development offshore Guyana - Saipem - is in search of a manpower agency and medical services provider for its operations in the South American country. Saipem America Guyana Branch posted a notice inviting...
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Latest News

Energy InsightsChevy Devonish -

New lawsuit claims that the Government of Guyana’s management of the Natural Resources Fund is unlawful and unconstitutional

A local businessman has filed a lawsuit challenging the Government of Guyana’s (GoG) management of the Natural Resources Fund...

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