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Guyana pushing for oil companies to further reduce waiting period for payment to local contractors

OilNOW -
The 45-day timeline for Guyanese contractors to be paid by oil companies is still seen as too lengthy, so the government is looking to reduce this.  The payment timeline was initially 90 days; then it was reduced to 45 days...
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British trading firms win contracts to market Guyana’s crude oil

OilNOW -
UK-based BB Energy Trading Limited and JE Energy have secured contracts to market Guyana’s share of crude oil from the country's three floating production storage and offloading (FPSO) vessels.  The contracts were awarded through a competitive bidding process managed by...
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CRP Subsea secures ‘major’ contract for deepwater oil field project in Guyana 

OilNOW -
UK-based CRP Subsea has been awarded a “major” contract from an unnamed “leading energy technology company,” for an offshore oil field project located approximately 200 kilometers off the northern coast of Guyana. The announcement was made by AIS, CRP Subsea’s...
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Ali says 45 days still too long for oil companies to pay contractors

OilNOW -
Guyana President Dr. Mohamed Irfaan Ali believes that 45 days after receipt of a correct invoice is too long a wait period for oil companies to pay their contractors. The President discussed the matter at the Local Content Summit...
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SLB awarded contracts for electrification of Petrobras’ Buzios Wave II oil field

OilNOW -
Oilfield services and technology giant SLB has secured three contracts from Petrobras, Brazil's state-run oil company, to provide completion hardware and services for up to 35 subsea wells in the development of the Buzios Wave II offshore oil field. The...
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Shadow oil minister says selective application of new contract terms blocking oil development

Kemol King -
Guyana’s shadow oil minister, David Patterson, has complained that the application of Guyana’s new fiscal terms to offshore contracts, among other things, has created an uneven playing field. This issue, Patterson pointed out during an October 6 press conference,...
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Bids invited for Guyana’s oil marketing contract

OilNOW -
Guyana’s Ministry of Natural Resources has invited bids for the provision of marketing services for the country’s oil entitlement from ExxonMobil’s Stabroek Block production. The contract is expected to be awarded late October to early November. The notice said the...
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MODEC FPSO hits first oil in Brazil on one of the longest charter contracts in company’s history

OilNOW -
MODEC, Inc. announced a significant milestone in its ongoing partnership with Petróleo Brasileiro S.A. (Petrobras) as the FPSO Anita Garibaldi MV33 successfully achieved first oil production on August 16, 2023. The vessel, now operational at the Marlim field in...
News

Local Content App being developed to bring “Guyanese closer to oil and gas contractors, licencees”

Shikema Dey -
Guyana’s Local Content Secretariat (LCS) is looking to develop an app to connect Guyanese contractors and licencees, said Director Dr. Martin Pertab on August 10.  Pertab, speaking at the Ghana-Guyana Local Content Conference explained that accessing information on opportunities in...
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Global market for oil & gas contractors to hit $1 trillion in 2025

OilNOW -
Norway-based Rystad Energy says it expects the global market for oil and gas contractors to rise to a peak of $1 trillion in 2025 and remain at high levels for several years thereafter. Helped by strong growth in the...
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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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