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Energy Department wants oil money to be used for ‘no-regrets investments’

OilNOW -
Guyana’s Department of Energy wants oil revenue to be used to pursue investment initiatives that are feasible and intends to advise government against plugging cash into ventures that could result in future regrets. So says Energy Department Director Dr....
Opinions

Opportunities for State participation in Guyana’s oil development

Bobby Gossai, Jr. -
The establishment of state oil companies is very common in oil-producing countries. Most petroleum producing countries have incorporated state participation in their licensing regulations and/or legislation. The establishment of a national oil company can be justified on several grounds. ...
News

Guyana to set up Local Content Compliance Unit to validate information submitted by oil companies – Dr Bynoe

OilNOW -
The Guyana Government has announced plans for the imminent establishment of a Local Content Compliance Unit to validate information submitted by oil companies operating in its offshore basin. The disclosure was made on Wednesday, August 29, by Director of Guyana’s...
News

TechnipFMC wins Shell subsea contract

OilNOW -
TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a significant integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Shell for the PowerNap project, located in the Gulf of Mexico. TechnipFMC will design, manufacture and install subsea hardware, including subsea...
News

No award of oil blocks before elections

OilNOW -
There can be no award of any oil blocks before the next General Election is held and a government is appointed. This is according to Guyana’s Minister of Legal Affairs and Attorney General, Basil Williams. Williams iterated this on Monday,...
Discoveries

World’s Largest Recent Offshore Oil Discovery Progresses Amid Political Tensions, Disputes

OilNOW -
Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true for the most prolific offshore oil discovery in recent years off the coast of the...
News

Opposition Leader wants more oil benefits for Guyana; says this must be balanced against investor returns

OilNOW -
Guyana's Opposition Leader Bharrat Jagdeo believes the South American country needs to alter the terms of future Production Sharing Agreements (PSAs) to maximize benefits for all Guyanese, but says this must be balanced against investor returns. “They will be...
News

Ratio Petroleum inks deal with Philippine National Oil Company

OilNOW -
The Philippine National Oil Company (PNOC) on July 12 inked a deal with Israeli firm ration Petroleum to “establish cooperation” for the exploration and development of oil and gas resources in the country, the Energy Department said. According to a...
News

Floating oil production platform sets sail for Guyana oil bonanza

OilNOW -
The 120,000 barrels per day Liza Destiny FPSO has departed Singapore for Guyanese waters where it will begin oil production within months at the giant Liza field in the Stabroek Block. Christened on June 22, 2019 by Guyana’s First Lady,...
News

One oil major walked away, 20 companies said no to Guyana exploration

OilNOW -
The financial risk was high and the prospects of finding oil off the Guyana coast was low in the lead-up to the 2015 drill campaign that saw the largest discovery for that year being made at the Liza field....
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What you need to know about the U.S. military build-up in the Caribbean

What began on August 14, when Washington ordered air and naval forces into the southern Caribbean reportedly to combat...

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