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More than GY$29 billion spent on goods and services since 2015 from Exxon’s operations in Guyana

OilNOW -
Since 2015, ExxonMobil Guyana and its major contractors have expended more than $29 billion Guyana dollars on the procurement of goods and services ranging from foodstuff to engineering. This has led to the evolution of new services, which include,...
News

TechnipFMC’s 600th subsea tree arrives in Brazil for installation at Guyana’s Liza field

OilNOW -
UK based oil services company TechnipFMC recently celebrated the delivery of the company's 600th subsea tree in Brazil, which will be installed at ExxonMobil’s Liza field offshore Guyana. The event, which took place at the company’s assembly plant in Rio...
News

Liza Destiny FPSO fast approaching Guyana waters; expected within days

OilNOW -
The 120,000 barrels per day Liza Destiny floating oil production complex is currently in the south Atlantic Ocean, fast approaching Guyana waters, and is expected to arrive by the end of August. Commenting on the vessel's imminent arrival, ExxonMobil Guyana's...
News

Exxon Country Manager talks up safety

OilNOW -
ExxonMobil Guyana has reemphasized its commitment to a culture of safety by staging a related workshop for contractors today at the Guyana Marriott Hotel. The Contractor Safety Management Workshop focused on integrated planning, safe execution of work and safety leadership...
News

Chamber’s forum on local content policy receives massive turnout

OilNOW -
Members of the business community, the public and key stakeholders turned out in large numbers to the first open forum on Guyana’s 3rd draft Local Content Policy (LCP) organised by the Georgetown Chamber of Commerce and Industry (GCCI) with...
News

First exploration well to be drilled in Bahamas next year

OilNOW -
Bahamas Petroleum Company (BPC) has entered into a series of agreements as part of a coordinated approach toward drilling its first exploration well in The Bahamas in 2020. The company has entered into a framework agreement with Seadrill, one of...
News

The most profitable deep-water projects on the planet are in Guyana

OilNOW -
The colossal discoveries ExxonMobil has made in Guyana to date will help expand production and revenue generation through a number of projects analysts say will be the most profitable on the planet. “The colossal discoveries Exxon has made in Guyana...
News

Revised model PSA targeting future licensing rounds – Energy Department confirms

OilNOW -
Guyana’s President, David Granger has made it clear that his APNU+AFC coalition administration respects the sanctity of contracts. This is a position the Department of Energy (DE) embraces, with its Director confirming to OilNOW on Friday that revisions to...
Opinions

Realisable economic rents and local risks for the Guyanese offshore licencing option

Bobby Gossai, Jr. -
The introduction of a contingent system of taxation is not the only possible response to the existence of exploration risk. The state could reduce the perceived risks by financing a programme of geological research. The fruits of this research...
News

SBM Offshore Q2 earnings increase 19% as Liza FPSO projects progress

OilNOW -
Dutch floater specialist SBM Offshore’s directional revenue as of June 30, 2019 totaled US$965 million, representing an increase of US$157 million or 19% compared with the same period last year. This increase was driven by a higher activity level...
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Saipem targets local content growth in logistics, fabrication for Suriname oil project

PARAMARIBO, SURINAME – Saipem is setting the stage for major local content contributions in Suriname through its work on...

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