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In three short years, Guyana transformed legislative, regulative framework for oil industry – VP Jagdeo

OilNOW -
As the Guyana Government marked its third year in office on August 2, 2023, it reveled in the progress made thus far in overhauling the legislative and regulatory architecture of the oil industry. Dr. Bharrat Jagdeo, the country’s Vice...
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Guyana establishes world dominance in discovered volumes for 2023, surpasses 600 million boe – Rystad Energy

OilNOW -
Guyana's Stabroek Block has proven to be a game-changer in the global energy landscape, propelling the South American nation to the forefront of discovered volumes. According to a new Rystad Energy report, Guyana has surpassed all other contenders, recording...
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Advantaged projects in Guyana, Permian delivered record production in Q2 2023 – Exxon’s CFO

OilNOW -
ExxonMobil Corporation’s Senior Vice President, Kathy Mikells revealed on Friday that the company’s advantaged projects in Guyana and the Permian Basin in the U.S., delivered strong volume contributions for the 2023 second quarter.  During her outline of Exxon’s Upstream business,...
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At COP28, developing countries’ right to economic prosperity with hydrocarbons must be heard – Hess CEO

OilNOW -
At the 2023 United Nations Climate Change Conference of the Parties (COP 28) set to be held in Dubai later this year, developing countries’ right to economic prosperity with their hydrocarbon resources must not be swept under the proverbial...
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It’s in Exxon’s interest to show increased resources but they have to analyse the data – Jagdeo

OilNOW -
More than a year has passed since ExxonMobil last updated its estimate of the proven Stabroek Block resources, raising the bar to an impressive 11 billion oil-equivalent barrels. In the time since, there have been several significant commercial discoveries...
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Uaru SURF contract among Saipem’s biggest for Q2 as revenues soar to €5.3 billion

OilNOW -
Oilfield giant, Saipem recorded €5.3 billion in revenues for the second quarter of 2023, bolstered by several mega contracts including one for ExxonMobil Guyana’s massive Uaru development. That figure is up from €4.2 billion in the same period last...
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New oil bill to be tabled in Parliament on August 3 – Jagdeo

OilNOW -
Guyana's Vice President, Dr. Bharrat Jagdeo, has announced that the country's new Petroleum Activities Bill will be presented to Parliament on August 3, 2023. The proposed legislation is set to establish a contemporary regulatory framework for the country's rapidly...
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Payara project will hit 220,000 bpd around five months after first oil

OilNOW -
Guyana’s third oil development, Payara, is expected to see a ramp-up to 220,000 barrels of oil per day (bpd) within a five-month period after production gets underway, says Chief Operating Officer (COO) of Hess Corporation, Greg Hill. During the company’s...
News

Exxon confirms Guyana production to hit 600,000 barrels-a-day next year

OilNOW -
Come 2024, Guyana’s daily production is set to ramp up to 600,000 barrels of oil per day. This was recently confirmed by ExxonMobil Guyana's Production Manager, Mike Ryan.  On the latest episode of Access ExxonMobil Guyana, Ryan shared that this...
News

Multiple new discoveries made in Guyana, but Hess says no update yet on new resource estimate

Shikema Dey -
Chief Executive Officer (CEO) of Hess Corporation, John Hess was asked by Doug Leggate from Bank of America on Wednesday when an update to the reserve estimate can be expected for the Stabroek Block. Hess has a 30% stake...
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Linden-Mabura road to soon link South America’s oil giants, boost trade and integration

Guyana’s Linden to Mabura Hill road project will be spotlighted at the Caribbean-Brazil Summit on June 13 in Brasilia....

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