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Exploration

2022 Guyana bid round will open more acreage in prolific basin

OilNOW -
By the third quarter of this year, Guyanese authorities plan to auction the nation’s remaining offshore oil blocks to international oil companies (IOC) marking a shift from the country’s earlier awards of production sharing contracts (PSCs) based on direct...
Opinions

Local Content: Where are the jobs, you ask?

OilNOW -
By A. Bacchus I was sitting in a class recently when a colleague expressed in utter vexation, “they’re giving all the jobs to foreigners.” The conversation was delving into industries and the policymaking in Guyana, and like the new-norm, oil...
News

Suriname leading offshore bid rounds since 2016, Guyana set to excite in 2022 – Norway group

OilNOW -
Guyana, Suriname and the Caribbean region is currently seeing a slowdown in licensing activity for a number of reasons, including the effects of the COVID-19 pandemic on frontier exploration which has prompted international oil companies to focus primarily on...
News

Stabroek Block crude gives Guyana strategic advantage over global peers, says energy expert

OilNOW -
The vast crude reservoirs found at the Stabroek Block offshore Guyana, home to over nine billion barrels of oil equivalent discovered since 2015, consist of light, sweet, high-quality oil-bearing sand, making it easier to extract and refine with less...
Opinions

Guyana’s role in the emerging green energy transition

OilNOW -
By Arthur Deakin – OilNOW In a recent offshore oil & gas conference in Houston, Guyana's foreign minister said that the country’s economy is expected to grow 500% by 2030. Guyana’s current US$6.8 billion real GDP would ignite to nearly...
Opinions

Comparing fiscal systems for Guyana’s hydrocarbons sector

Bobby Gossai, Jr. -
In the universe of oil contracts, two main families of fiscal system exist. The first family includes ‘concessionary’ systems, so-called because the government grants the company the right to take control of the entire process – from exploration to...
News

Recount shows Guyana opposition secured majority of votes in elections

OilNOW -
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...
News

Orinduik 3D seismic identifies ‘potentially sizeable structures’ offshore Guyana

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. says it is encouraged to date by the quality of data received and interpretations being made based on the 3D seismic survey conducted on the company’s Orinduik Block, offshore Guyana. Data collected and...
News

Guyana must “bite the bullet” and pay for highly skilled professionals – Dr. Mangal

OilNOW -
Petroleum Advisor to Guyana’s President, Dr. Jan Mangal, says the South American country’s government needs to take firm steps towards “opening the doors” to professionals as part of a policy to attract skills which are badly needed in the...
News

TechnipFMC mobilizes first subsea 2.0® tree from Guyana for Uaru development

OilNOW -
TechnipFMC marked a key milestone for its configure-to-order Subsea 2.0® platform, which has benefited from its global talent pool. Celebrating the key moment on Wednesday, teammates proudly posed with the company’s first Subsea 2.0® tree mobilized for transport from...
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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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