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MODEC seeking contractors for monitoring system on 250,000 bpd Errea Wittu FPSO

OilNOW -
MODEC Guyana is requesting contractor services for the annual maintenance and certification of the Environmental and Motion Monitoring System (EMMS) on the FPSO Errea Wittu.  This vessel is expected to initially produce 250,000 barrels of oil per day (b/d), inject...
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Guyana oil generating over US$1.5 billion a month – Exxon official 

OilNOW -
Oil production offshore Guyana is generating over US$1.5 billion a month, ExxonMobil Guyana Vice President, Philip Rietema said.  “Today, we’re producing over 600,000 barrels a day and oil produced is revenue produced, is revenue to be shared among the people...
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As Global oil demand set to slow down Guyana aims to forge ahead with rapid production expansion

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A recent International Energy Agency (IEA) report revealed that global oil demand is set to decelerate as the energy transition gains momentum. However, Guyana’s oil and gas sector will continue its rapid expansion. Last year, President Irfaan Ali emphasized...
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SLB wins contract for pioneering all-electric subsea project in Norway

OilNOW -
SLB has secured a contract from Equinor for the front-end engineering design (FEED) of a 12-well, all-electric Subsea Production Systems (SPS) project in the Fram Sør field, offshore Norway. The project aims to fast-track the global adoption of electric...
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Guyana might have to abandon talks with some oil block awardees – Jagdeo

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Some of the groups Guyana identified as awardees after the country’s first offshore auction, may not end up receiving the blocks.  Guyana Vice President Bharrat Jagdeo said they “have difficulties finding the right partners and raising the fees.” The government...
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DOF Group secures major contracts with Petrobras

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DOF Group has been awarded two significant long-term contracts by Petrobras. These include a major contract for the pipelay support vessel (PLSV) Skandi Niterói and a very large contract for the anchor handling support vessel (AHTS) Skandi Botafogo. The Brazilian-built...
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Private sector body urges swift payment reforms in Guyana’s oil and gas sector

OilNOW -
The Private Sector Commission (PSC) has raised urgent concerns over payment delays from oil and gas companies, calling for reforms to ensure timely payments. In a meeting on June 14, 2024, with Minister of Natural Resources Vickram Bharrat and...
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Suriname businesses urged to adopt international standards ahead of oil boom

OilNOW -
Suraya Jiawan-Nanan, Chief Executive Officer (CEO) of Haukes Construction Company in Suriname, is urging local businesses to elevate their standards to meet international requirements as the country prepares for a surge in its oil industry.  Jiawan-Nanan, at the recent Suriname...
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Guyana implements new policy, boosting advantage for locals in oil sector

Kemol King -
Guyanese companies in the oil sector just got a major boost. A new policy now requires that companies evaluating bids give more weight to local content, increasing it from 5% to 10%. Companies with a Local Content Certificate will...
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IEA: OPEC’s grip on global oil prices may weaken

OilNOW -
A looming glut in global oil supply could “upend” OPEC+ attempts to prop up prices by cutting production, according to the International Energy Agency (IEA). The Paris-based IEA said Wednesday in a new report that growth in global oil production,...
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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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