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Demand for land increases with oil and gas prospects

As the development of Guyana’s oil and gas resources continues, the Guyana Lands and Surveys Commission (GL&SC) has seen an increased demand for land. “There is a lot of interest in…waterfront lands and many people have their own idea about...

Noble Tom Madden’s contract with Esso ends February 2019

The contract for the drillship Noble Tom Madden, which has been drilling exploration wells in the Stabroek Block offshore Guyana for ExxonMobil affiliate Esso Exploration and Production Guyana Ltd., is scheduled to come to an end mid February 2019,...

CNOOC inks cooperation agreements with 9 international oil companies

CNOOC Limited on December 18, 2018 announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL. As...

Angola’s Sonangol, ExxonMobil sign oil exploration agreement

(Reuters) - Angola’s state oil company Sonangol and ExxonMobil on Friday signed a memorandum of understanding for oil exploration in the country’s Namibe basin, the two firms said. Angola, Africa’s second-largest crude producer, is facing a steep output decline unless...

Guyana ratifies conventions to protect against oil spills – Greenidge

Guyana’s ratification of several international conventions has been approved by Cabinet. These are aimed at, among other things, strengthening the country’s legal framework for the emerging Oil and Gas industry. This was announced by the country’s Foreign Affairs Minister Carl...

Guyanese businesses link up with Liza Phase 1 Prime Contractors at supplier forum

ExxonMobil Guyana and the Centre for Local Business Development opened its Liza Phase One Supplier Development Forum on Monday at the Guyana Marriott Hotel in the country’s capital, Georgetown. Country Manager of ExxonMobil Guyana, Rod Henson, explained that, “We host...

Oil halts slide near $51 as concerns persist over supply glut

(Bloomberg) Oil traded near $51 a barrel on concerns record output by Saudi Arabia will exacerbate a supply glut as President Donald Trump continues to call for lower prices. Futures in New York halted a decline, after slumping 7.7 percent...

Liza Tier 1 contractor TechnipFMC to supply Chevron with wellhead equipment

TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has signed a Surface Technologies Frame Agreement with Chevron. This 5-year agreement covers the exclusive supply of surface wellhead equipment and service in the United States and Canada. Richard Alabaster, President of TechnipFMC’s Surface Technologies business, said,...

As Guyana preps for 750,000 bpd bounty by 2025, Goldman Sachs says oil shortage is coming

As the South American country of Guyana prepares to join the league of petroleum producing nations, American multinational investment bank, Goldman Sachs, says an oil shortage is coming over the next decade because firms cannot fully invest in future...

Energy Department prepping for Guyana oil bonanza

Guyana’s newly established Department of Energy (DoE) is currently looking at a series of capacity building initiatives that will allow it to better meet its’ objectives in the country's emerging oil and gas sector. Since 2015, US oil major ExxonMobil...

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Cutting-edge technologies giving exploration a sustainable future – Insights from SLB 

Andrea Lovatini, Director of Exploration Data and Geosolutions at SLB and Chairman of the EnerGeo Alliance Board, argues that...