The Guyana government has utilised portions of a US$20 million World Bank loan to enhance operational efficiencies within the oil and gas sector. OilNOW understands that a two-year contract was granted this year to vLex Justis Limited, which is headquartered in the United Kingdom, to provide...

The Inter-American Development Bank’s (IDB) latest review of Guyana’s affairs shows that the nation’s non-oil economy is projected to have “better-than-expected” growth for 2022. In its quarterly report published Tuesday, the IDB said the country's non-oil sector is estimated to...

Subsea 7 S.A. on Friday said it was awarded three contracts by Aker BP for work offshore Norway. The awards included a major contract (over US$750 million) for Yggdrasil field development project (formerly NOAKA), a large contract (US$300-500 million) for Skarv Satellite Project and a substantial contract (US$150-300 million) for...

In its 2020 manifesto, the People’s Progressive Party/Civic administration pledged to ensure better contract management for the Stabroek Block Production Sharing Agreement (PSA) and future contracts. In just two years, the government has embarked on a number of legislative and...

Italian multinational oilfield services company Saipem has been awarded new contracts in Guyana and Egypt for a total amount of approximately 1.2 billion USD. The first contract has been awarded by ExxonMobil Guyana, subject to government approvals, for the Uaru oil...

Guyana's President, Dr. Mohamed Irfaan Ali, said that the Gas-to-Energy (GTE) project will unlock the country's new energy mix, as he presided over a major contract signing in the development. The signing is for the award of a contract to...

Dutch firm Koole BV has been awarded a GY$1.38 billion (US$6.6 million) contract to remove 17 hazardous wrecks from Guyana’s waterways as marine activities surge. The company specialises in industrial demolition, remediation, wreck removal, and marine construction. This is its...

Italian offshore contractor, Saipem, is looking for a local company to carry out dredge maintenance work on the quay wall of its Guyana facility located on the East Bank of Demerara. In an Expression of Interest (EOI), Saipem outlined that...

Abu Dhabi National Oil Company (ADNOC), one of the world’s largest petroleum producers, has agreed to train several Guyanese who will eventually make up the nation’s Crude Marketing Unit. Vice President, Dr. Bharrat Jagdeo made this disclosure at a press...

Guyana President Dr. Mohamed Irfaan Ali announced the opening of the country’s first competitive offshore bidding, early Friday morning, offering “25 billion potential barrels” to entrants. The round will be open until April 14, 2023. Evaluations and negotiations will follow,...