A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that the move will improve exploration and production companies’ short-term liquidity and reduce breakeven prices for future development projects by...

Equinor has awarded two contracts and issued a letter of intent to TechnipFMC for pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS). The projects in scope are Breidablikk and the Gas Import System for the...

(Reuters) - Brazilian state-run oil firm Petrobras has kicked off a sale process for its Atum, Curima, Espada and Xareu offshore oilfields, the company said on Friday. In a securities filing, Petroleo Brasileiro SA, as the company is formally known,...

Since the onset of the COVID-9 pandemic, Hess Corporation’s response has been hinged on three key principles—preserve cash, preserve capability, and preserve the long-term value of its assets. In terms of preserving cash, the company’s Chief Executive Officer (CEO),...

The 120,000 barrels per day Liza Destiny FPSO producing oil at the Stabroek Block offshore Guyana was designed to ensure there is no routine flaring in the daily operations of the vessel. Operating processes during production operations include safely flowing...

Following a slowdown in drill operations offshore Guyana due to COVID-19 related measures, ExxonMobil is now back to full drill capacity at the 6.6 million acres Stabroek Block where it has so far discovered more than 8 billion barrels...

A change in government in South America’s newest oil producing nation Guyana is not expected to have an adverse effect on the country’s emerging oil and gas sector since both of the major political parties are seen as pro-investment,...

A 33-day long recount of the ballots in Guyana’s March 2 General and Regional Elections shows that the opposition People’s Progressive Party Civic (PPP/C) secured a majority of the votes and pending a declaration by the electoral body, should...

The Government of Guyana Agreement may identify the Delivery Point or Points, putting the actual location of the Delivery Point beyond discussion. However, the investing parties should also agree to the procedures for measurement and calibration of measurement equipment...

The Maka Central-1 and Sapakara West-1 discoveries, the first of their kind offshore Suriname, are likely to be developed in coming years utilizing a high capacity floating oil production complex. The two discoveries are located approximately 20 kilometers (12...