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Guyana 15th in the world in terms of deposits – Ambassador Holloway

OilNOW -
Outgoing US Ambassador to Guyana Perry Holloway said that while things are happening in the Guyanese economy due to the emerging oil and gas sector, people still do not realise how big the Guyana offshore oil discoveries are -...
News

Eco Atlantic, partners to drill Jethro-Lobe well offshore Guyana in May

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. on Wednesday December 5, 2018 announced details of its 2019 drilling programme for Guyana’s offshore Orinduik Block, with the first well – the Jethro-Lobe prospect - being planned for drilling in May 2019. The...
News

Liza Phase 2 Environmental Impact Assessment approved

OilNOW -
The Environmental Protection Agency (EPA) in Guyana has approved the final Environmental Impact Assessment Report for ExxonMobil affiliate Esso Exploration and Production Guyana Limited’s (EEPGL) Liza Phase 2 Development Project. The EIA covers development of production facilities in the...
Opinions

Structural approach to maximizing Local Content Development: national benefits for an emerging petroleum-producing country

Bobby Gossai, Jr. -
Initial efforts on local content have already contributed to the emerging oil sector transformation in Guyana. This can be seen from the first set of investment activities that are currently occurring with the establishment of new business frontiers, since...
News

Trinidad presses dual gas supply from Venezuela

OilNOW -
Venezuela, Trinidad and Tobago and oil majors Chevron and Shell appear to be making progress on two separate projects that would develop and supply offshore natural gas, Argus said in a report on Monday. Venezuelan gas supply is critical for Trinidad,...
Opinions

Value-addition and human capital creation for economic growth: key elements of Local Content Policies

Bobby Gossai, Jr. -
Local Content Policies (LPCs) are part of a broader category of policies known as Productive Development Policies (PDPs) or Industrial Policies (IPs), which, in the most expansive definition, include all government interventions, measures or programmes that aim to increase...
Opinions

Local Content Policy for Guyana: Maximizing Economic Benefits

Bobby Gossai, Jr. -
Increasing hydrocarbons finds offshore Guyana will offer significant opportunities to the country to fast track economic development and ensure that public welfare improvements are delivered to the citizens. One approach to doing so which should be adopted is to...
Exploration

Guyana halts issuance of exploration licenses for one year

OilNOW -
As the Guyana Government’s Energy Department works to increase its capacity, update legislation and have a better understanding of the local and global petroleum sector, it has put a moratorium on the granting of new exploration licenses. This was disclosed...
News

Kosmos slips deeper into red with net loss of $126.1M in Q3

OilNOW -
Kosmos Energy Ltd. (NYSE: KOS) on Monday announced financial and operating results for the third quarter of 2018. For the third quarter of 2018, the Company generated a net loss of $126.1 million, or $0.31 per diluted share as compared to net loss of...
News

Energy earnings pull Trinidad & Tobago from recession

OilNOW -
(Oxford Business Group) Presented on October 1 by Colm Imbert, Trinidad and Tobago’s Minister of Finance, the 2019 budget forecasts GDP to increase by 1.9 percent this year before rising to 2.1 percent by 2021, reversing a trend that...
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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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