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Sanctioning activity remains high in Guyana, major contracts coming – Rystad Energy

OilNOW -
After the pandemic decimated the oil and gas industry in 2020, this year is being seen as one of rebound with oil prices rallying and investments picking up across various projects globally, chief among them being South America’s hottest...
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Guyana’s fledgling oil sector contributes over GY$440 billion to economy

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With oil production only commencing less than two years ago, Guyana’s fledgling oil sector has brought in over GY$440 billion; or GY$57 billion more than the 2021 budget. This is according to data from the Central Bank, Stabroek Block...
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APA conducts flow test, delivers ‘excellent quality black oil reservoir’ offshore Suriname

OilNOW -
APA Corporation announced results on Wednesday from flow testing at the Sapakara South appraisal well and drilling results from the Bonboni exploration well in Suriname. Both operations were recently completed on Block 58. Sapakara South-1 (SPS-1) flow test Flow and subsequent...
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TechnipFMC wins contract to supply subsea system for Guyana’s US$9 billion Yellowtail Project

OilNOW -
French-American conglomerate, TechnipFMC has been awarded a large contract by ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL), to supply the subsea production system for the Stabroek block's US$9 billion Yellowtail Development Project. For TechnipFMC, a “large” contract is between...
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Saipem secures two new contracts valued over US$600 million

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Saipem has been awarded two new offshore contracts for transportation and installation activities (T&I) for a total amount of over 600 million USD. The first contract was awarded by Chevron Australia Pty Ltd for the Jansz-lo Compression Project, the gas...
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Six oil companies will compete to sell up to 55 million barrels of Brazil crude

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(S&P Global Platts) Six oil companies will compete for the rights to buy Brazil's share of profit oil from four subsalt production sharing fields, with up to 55 million barrels of crude available, government subsalt management company Pre-Sal Petroleo...
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Exxon targeting 75% Guyanese workforce for Yellowtail oil production vessel – report

OilNOW -
After eight years of operations offshore Guyana, ExxonMobil expects around 75% of the workforce on the giant Yellowtail Floating, Production, Storage and Offloading (FPSO) vessel will be Guyanese, starting from an initial 25%. This is according to the Environmental Impact...
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Oil moves back up after OPEC+ producers rebuff call to hike supply

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(Reuters) - Oil prices rose on Friday after OPEC+ producers rebuffed a U.S. call to raise supply to cool the market, sticking to plans for a gradual increase in output after cuts made in the face of the coronavirus...
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GAICO Construction to plug over GY$5B into dry dock laydown & storage yard to support oil sector

OilNOW -
Gaico Construction, one of the leading local firms servicing the oil and gas sector, is already positioning itself to take advantage of the revenue-making opportunities to flow from the US$900M gas-to-energy project. By 2023, the company is poised to...
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Prime Guyana oil blocks up for auction in 2022 – VP Jagdeo

OilNOW -
By the third quarter of 2022, the Government of Guyana is looking to auction some of its prime oil blocks to international oil companies (IOC). Announcing this news was the country’s Vice President Dr. Bharrat Jagdeo when he addressed...
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Guyana among nations overhauling petroleum laws to attract investment – GEOExPro

Guyana is among a group of countries that have introduced sweeping changes to their petroleum laws in a bid...

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