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Exploration

TechnipFMC awarded Subsea Contract for Liza deep water project

OilNOW -
TechnipFMC has been awarded a contract by an affiliate of ExxonMobil Corporation for the engineering, manufacture and delivery of the subsea equipment for the Liza deep water project in Guyana, South America. The award scope includes seventeen total enhanced vertical...
News

Trump blocks Exxon from drilling for oil in Russia

OilNOW -
(CNN) The Trump administration has denied ExxonMobil permission to bypass sanctions to drill for oil in Russia. "The Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions," Treasury Secretary Steven...
Featured

Certified welders, other skilled workers will be needed as Guyana becomes major oil producer

OilNOW -
Beefing up education institutions in preparation for oil production which is set to begin by 2020 is critical if Guyanese are to benefit from direct employment opportunities in the emerging oil and gas sector. This is the view of...
Exploration

Expert says putting safety first in oil production is key

OilNOW -
While laying the foundation to realize its fortunes and becoming a hemispheric leader in the oil and gas industry, Guyana has also been listening keenly to the advice coming from experts in the field. Billy Joe Pellegrin, the Corporate Quality...
News

Exxon’s Kaieteur, Canje blocks will comply with new PSA terms – VP Jagdeo

OilNOW -
As he maintained there will be no renegotiation of the Stabroek Block Production Sharing Agreement (PSA), Guyana’s Vice President, Dr. Bharrat Jagdeo has confirmed that nine other offshore blocks will be subjected to new terms which include a 10%...
News

Guyana seeking US$1.9 billion in work commitments for first offshore bid round

Kemol King -
Guyana is targeting US$1.9 billion in commitments for its first offshore competitive licensing round, with safeguards to ensure contractors work swiftly and diligently. The bid round for offshore blocks opened on Monday, December 12, 2022 and included deepwater blocks (D1-D3) between...
Opinions

The Production Sharing Agreement, Renegotiation, and the Stability Clause (Part 1)

OilNOW -
By Joel Bhagwandin - OilNOW Summary The full project lifecycle of the oil and gas business is around 30 years or more. During the exploration and development stage which may span about 20 years before production, the oil companies continuously...
News

Guyana to conduct national year-end capacity assessment to update local content law – Bharrat

OilNOW -
Guyana will be undertaking a review of its local capacity in support of oil and gas operations by the end of 2022 to determine whether the 40 schedules outlined in the Local Content Policy need to be adjusted. “This will...
News

Gas project will help push micro, small, medium businesses, avert Dutch Disease – GCCI President

OilNOW -
New to the global oil-producing scene, Guyana has received endless forewarnings about not falling into the trap of the dreaded ‘Resource Curse’ or ‘Dutch Disease’ – the cause of significant challenges for many oil-rich nations. The government has said it...
News

Peru calls bid round as crude output dwindles

OilNOW -
(S&P Global Platts) Peru's government plans to call for bids in June for up to seven crude oil producing blocks on its northern coast as production dwindles. The blocks in the Talara Basin, both onshore and offshore, lie in mature...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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