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Having one of the highest corporate income tax rates in the world among barriers to Suriname’s first offshore oil development – risk expert

As Suriname awaits a final investment decision (FID) from TotalEnergies on the country’s first-ever oil development, an expert on risk says the fiscal part of this story has impeded the process.  Ford Tanner, Associate Director with the Exploration and Production...

Petrobras advances natural gas exploration in Colombia with Uchuva-2 well

Petrobras has reached a key milestone with the Uchuva-2 well, confirming the natural gas discovery initially made in 2022 with Uchuva-1.  Located 31 km offshore Colombia at a water depth of 804 meters, Uchuva-2 was spudded on June 19 and...

Guyana, Suriname key players in global oil and gas development 

Guyana and Suriname are becoming pivotal areas for oil and gas development, with the potential to significantly influence global energy dynamics, according to Patrick Jelinek, EY Americas Oil and Gas Leader. Jelinek notes that Guyana's nascent energy sector offers both...

Power China snags US$8.6 million contract for Gas-to-Energy National Control Centre 

The government of Guyana signed a US$8.6 million contract with Power China to construct a building to house the National Control Centre of the Gas-to-Energy (GtE) project. At the signing, Prime Minister, Brigadier (Ret’d), Mark Phillips, fulfilling the functions of...

Subsea7 installs 119 kilometers of pipe ahead of schedule for Guyana’s Gas-to-Energy project

Subsea7 said offshore pipelay for the Guyana Gas-to-Energy project was delivered 10-days ahead of schedule. “This was our first project in Guyana and involved the fabrication and S-Lay of 119 kilometers of rigid pipeline using Seven Borealis," said Chief Executive...

TotalEnergies, QatarEnergy withdraw from South African offshore blocks

TotalEnergies has announced its withdrawal from two offshore oil and gas blocks in South Africa. This decision follows the exit of its partner, QatarEnergy, from one of the blocks. TotalEnergies and QatarEnergy are both withdrawing from Block 11B/12B, off South...

Guyana to remain carbon sink with Exxon’s Hammerhead and Gas-to-Energy projects

Even with a string of massive oil developments being pursued offshore Guyana, the country will remain a net carbon sink for years to come, a study indicated.  Guyana’s Environmental Protection Agency (EPA) requested that ExxonMobil conduct an environmental impact assessment...

Offshore O&G sector poised for US$35 billion EPC surge this year 

Westwood Global Energy Group forecasts an additional US$35 billion in offshore oil and gas (O&G) related engineering, procurement, and construction (EPC) spending for the remainder of 2024. This will be driven by approximately 125 subsea tree unit awards, 2,230...

GYSBI handles arrival of ‘heaviest cargo’ for Gas-to-Energy project 

Last week, Guyana Shore Base Inc. (GYSBI) witnessed the arrival of 16 transformers and 244 accessories for the Gas-to-Energy (GTE) and Guyana Power and Light (GPL) Enhancement Projects, the company said.  The BBC Echo Vessel successfully berthed at the Muneshwers...

The key legal instruments governing Guyana’s oil and gas industry

By Chevy Devonish In the first article of this column, I indicated the intention to map and distill the entirety of the legal framework directly (specifically governs oil and gas production and related activities) and indirectly (does not directly govern...

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Subsea7 lands US$150M–$300M Chevron contract for Aseng gas project offshore Equatorial Guinea

Subsea7 has secured a substantial contract from Noble Energy EG Ltd, a subsidiary of Chevron, for subsea installation work...