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US sanctions on Venezuela could open door wide for Russia, China

OilNOW -
The recent round of sanctions from the Trump administration has pushed the Venezuelan government to publish its oil prices in Chinese Yuan which has been seen as a fulfilled promise from President Nicolás Maduro to layoff the U.S dollar,...
News

Liza Destiny has potential for significant long-term local content – Exxon Country Manager

OilNOW -
Operations of the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel will potentially provide the highest sustainable long-term employment opportunities for Guyanese over the lifetime of the project. ExxonMobil, through its contractor; SBM Offshore, is in fact targeting a...
News

Keppel delivers 5th FPSO for MODEC; to be deployed offshore Brazil

OilNOW -
Keppel Offshore & Marine's wholly owned subsidiary Keppel FELS Brasil's BrasFELS shipyard in Brazil has delivered the Cidade de Campos dos Goytacazes MV29, a Floating Production Storage and Offloading (FPSO) vessel, to repeat customer MODEC Offshore Production Systems (Singapore)...
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Guyana’s push to ease power generation deficiency with natural gas production gains momentum

OilNOW -
Guyana’s push for the production of Liquefied Natural Gas and its use to alleviate a decades-old power generation deficiency in the South American country is gaining momentum. The first in a series of continued discussions on commercial and power generation...
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The life of a well: Part 3 – Types of wells

OilNOW -
Types of wells: A well drilled to discover a new oil or gas reservoir is called a wildcat or exploratory well. The well that discovers a new field is called the discovery well for that field and subsequent wells...
News

Exxon on target: Liza Destiny arrives 2019

OilNOW -
ExxonMobil says preparation for first oil in Guyana is on schedule and preliminary work being undertaken by key contractors is progressing well. Liza Destiny - the Floating Production Storage and Offloading (FPSO) vessel being designed by SBM Offshore to produce...
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The life of a well: Part 1

OilNOW -
Millions of wells have been drilled since US explorers launched the modern oil industry a century and a half ago. In those 150 years, technology advances have gradually improved the chances that wells will find oil and gas, and...
News

Gov’t, Exxon need to sit down and decide on disclosures – Trotman

OilNOW -
The Guyana government and US super-major ExxonMobil will need to sit down and chart a way forward regarding the disclosure of information related to agreements for petroleum exploration and production in the South American country. Guyana’s Minister of Natural Resources,...
News

ExxonMobil increases Harvey relief effort commitment to $9.5M

OilNOW -
Exxon Mobil Corporation said Thursday it had increased its financial commitment for Harvey relief to up to $9.5 million, which includes a new employee and retiree donation match program and in-kind donations to the American Red Cross for recovery efforts...
News

Production license valid for 20 years with one-time renewal option

OilNOW -
ExxonMobil will have an initial 20-year period to produce petroleum under the license granted by Guyana for the Liza Phase 1 development project, with a single renewal period of up to 10 years thereafter. As part of the agreement, ExxonMobil,...
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Look beyond the barrels for the success of Guyana’s oil industry – Ali 

President Irfaan Ali has urged Guyanese to measure the success of the oil industry by more than just the...

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