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ExxonMobil says it is eager to partner with Guyanese businesses

OilNOW -
ExxonMobil announced today the establishment of the Centre for Local Business Development in Georgetown, Guyana, and signaled its commitment to work with the country’s business community. The centre will assist small and medium-sized Guyanese businesses with building their capacity and...
Editorial

Guyana: Managing Local Content Expectations

OilNOW -
The need for, and introduction of requirements for local content in Guyana’s emerging oil and gas industry, continues to engage the attention of stakeholders and the public at large. Even as a draft local content policy framework is being...
News

ExxonMobil to provide plan for sourcing goods and services in Guyana, utilizing local labour

OilNOW -
US super-major ExxonMobil will have to provide a detailed plan to the Guyana government for the procurement of goods and services in the country as well as the employment and training of Guyanese citizens, in keeping with requirements of...
News

Guyana must put ego aside and hire professionals to negotiate with ExxonMobil – Attorney-at-Law

OilNOW -
Prominent Guyanese Attorney-at-Law, Nigel Hughes, says the country’s government must put ego aside and take steps to hire experts who can advise on negotiations with US super-major, ExxonMobil. Mr. Hughes, a Director on the board of the Guyana Oil...
Opinions

Production-Sharing Agreements (Pt. 2): Ownership & mineral development rights

OilNOW -
(Part 2) Excerpt from an analysis done by Kristen Bindemann, Oxford Institute of Energy Studies There are two methods of contracting: bilateral negotiation and competitive bidding. When a contract is negotiated bilaterally, the firm, usually a multinational (such as ExxonMobil),...
News

Review uncovers multiple shortcomings in Guyana’s draft local content framework

OilNOW -
A review of Guyana’s draft local content policy framework by members of the business community has identified several shortcomings which it believes put Guyanese business operators at a disadvantage. The review, done by the Georgetown Chamber of Commerce and...
News

Fugro Venturer to begin offshore survey campaign

OilNOW -
With a maiden voyage that takes her to the deep waters of Ireland’s Atlantic margin and the far North of the Barents Sea, Fugro Venturer is the newest of Fugro’s successful purpose-designed, standardised survey vessels, originally formulated in 2013. The...
News

ExxonMobil says royalty, terms apply to entire Stabroek block offshore Guyana

OilNOW -
The royalty and terms outlined in the production sharing contract between ExxonMobil and Guyana will apply to the entire area known as the Stabroek block, located 120 miles offshore the South American country. The US supermajor had applied for,...
News

Local content expert to work with Guyanese private sector

OilNOW -
Business operators in Guyana eager to get involved in the country’s emerging oil and gas sector will soon benefit from the input of a local content specialist. OilNOW understands the Guyana government is hiring the expert based on the completion...
News

Saipem strikes $230M in offshore agreements

OilNOW -
Saipem, the same company that was earlier this year awarded a subsea contract by ExxonMobil for its Liza project offshore Guyana, has recently entered agreements to the value $230M for other offshore drilling activities in the Mediterranean, Black Sea...
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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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