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Suriname must reject complacency as it prepares for first offshore oil development – Santokhi

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Suriname’s President Chandrikapersad Santokhi says the country must reject complacency and a culture that tolerates mistakes as it prepares for its first offshore oil development. “As a nation, we must reject the mentality that accepts mistakes and shortfalls as usual,”...
News

Baker Hughes awarded supply contract by ExxonMobil for Guyana FPSOs 

OilNOW -
ExxonMobil Guyana has awarded a contract to energy technology company Baker Hughes to supply specialty chemicals and related services to its Uaru and Whiptail offshore greenfield developments in Guyana’s Stabroek block.  Baker Hughes said the multiyear contract includes all topsides,...
News

EOG Resources Ltd. secures Production Sharing Contracts in TT

OilNOW -
The Ministry of Energy and Energy Industries (MEEI) has awarded Production Sharing Contracts (PSCs) for Blocks NCMA 4(a) and Lower Reverse L to EOG Resources Limited. The contracts were signed on January 29, by Stuart Young, the Minister responsible.  The...
News

Stena Drilling secures TotalEnergies contract for Suriname well

OilNOW -
Stena Drilling has been awarded a contract by TotalEnergies to drill a well in Suriname, the Aberdeen-based company announced on Wednesday. The Stena Drillmax will begin operations in Suriname in the second quarter of 2025  under a one-well program, with...
News

US$2.5 billion in oil revenue to support Guyana’s 2025 budget

OilNOW -
The Guyana government will withdraw US$2.5 billion in oil revenue to support its US$6.628 billion (GY$1.382 trillion) budget for 2025, Senior Minister in the Office of the President with responsibility for Finance and the Public Service, Dr. Ashni Singh,...
Opinions

Letter-to-the-Editor: Clarion call for contract renegotiation distracting us from real opportunities

OilNOW -
Dear Editor, Over the past several months, the topic of contract renegotiations in Guyana’s oil sector has once again taken centre stage. The debates and calls for changes have dominated the public discourse, creating a narrative that risks overshadowing the...
News

BOMESC secures contract for Suriname’s first deepwater FPSO topside modules

OilNOW -
BOMESC Offshore Engineering Company Limited has signed a contract with STS VOF to construct topside modules for Suriname’s first floating production, storage, and offloading (FPSO) vessel.  The deal, valued between RMB 750 million and 1 billion (approximately US$102 million to...
News

Offshore EPC contract awards projected to reach US$54 billion in 2025 amid challenges

OilNOW -
The offshore oil and gas industry is expected to see a slight 1% year-on-year growth in engineering, procurement, and construction (EPC) contract awards in 2025, reaching US$54 billion, according to Westwood Global Insights.  This increase is supported by 53 field...
Stories Beyond the Barrel

From aspiring veterinarian to logging geologist, Kimberly Lachman aiming high in Guyana’s oil sector

OilNOW -
Kimberly Lachman never imagined a career in the oil and gas industry. “I wanted to be a veterinarian as a kid. I didn’t see myself here as a logging geologist,” she admitted. Yet today, she is charting a course...
News

Guyana must seek strong, capable partners for oil development – Greenidge

OilNOW -
Guyana’s former Foreign Minister, Carl Greenidge, has stressed the need for the nation to partner with financially strong and technically capable companies to ensure the sustainable development of its oil and gas sector.  Speaking during a webinar hosted by the...
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GranMorgu FPSO construction hits 27% as Suriname targets first oil by 2028

Construction of the floating production, storage and offloading (FPSO) platform for Suriname’s GranMorgu project has reached 27%, state oil...

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