Authorities in Guyana are looking to build a local group of core professionals that would ultimately take over the management of the oil and gas sector. This could see hundreds of Guyanese students being sent overseas to acquire the...
Investors and governments from around the world have been discussing various opportunities with Guyanese authorities in recent months that could potentially see hundreds of billions of dollars being plugged into South America’s newest oil and gas hotspot.
Chief Executive Officer...
Guyana is poised to significantly reduce its reliance on imported fossil fuel to meet its energy needs through the utilisation of natural gas from the offshore Liza field at the Stabroek block. There has been broad-based consensus on the...
In an effort to ensure production within the Stabroek Block is efficiently managed at all times, ExxonMobil Guyana plans to implement a secure, high-speed fibre-optic/wireless transport service. The project will ultimately connect the oil major’s onshore and offshore facilities...
A world on a 2-degree pathway could significantly reduce upstream gas investments by 65% through to 2040, says Wood Mackenzie. The company’s base case outlook projects some 200 billion barrels of oil equivalent (bnboe) of new gas resource developments...
Dutch floater specialist SBM Offshore is reporting a 16 percent increase in revenues for Q3 2020 when compared to the same period last year and this is being attributed in part to higher Lease and Operate earnings from the...
Most governments go to a lot of effort to distance themselves as much as possible from exploration risk. This can be done through management of block sizes, relinquishment, and ringfencing, discussed in turn below.
Block size and configurations
Block size...
Authorities in Guyana are in the process of finalizing arrangements for Qatar Petroleum’s entry into offshore blocks in what is another major development in the South American country’s emerging oil and gas industry.
Back in July 2019, Qatar Petroleum announced...
Large volumes of associated natural gas discovered with oil off the coast of both Guyana and Suriname can play a major role in the transformation of these neighbouring countries which are now moving to develop their deepwater hydrocarbon resources....
Guyana’s First Lady Arya Ali toured the country’s largest shore base facility servicing the offshore exploration and production operations on Friday, where she discussed matters related to the environment and employment.
In recognizing the pivotal role the country’s oil and...
