Guyana's burgeoning role in the global oil industry is taking shape, with ExxonMobil's investments poised to transform the country's economic landscape, according to the company’s Vice President and Business Services Manager, Phillip Rietema. He made an appearance on the...
Guyana’s Natural Resource Fund (NRF) received US$246 million (GY$51.3 billion) in revenue from oil sales in June, government data shows.
The funds were paid for three lifts of Guyana’s crude entitlement from the ExxonMobil-operated Stabroek Block.
The NRF received:
US$81.6 million (GY$17...
As Guyana considers a second auction of offshore oil exploration licenses, the government may be open to easing some terms in its model petroleum contracts, to attract more investors.
During a Thursday press conference, Vice President Bharrat Jagdeo explained that...
The fiscal regime of the Stabroek Block Production Sharing Agreement (PSA) continues to be a key factor behind ExxonMobil's decision to continue investing billions of U.S. dollars into Guyana. So says Vice President and Business Services Manager at ExxonMobil Guyana...
Guyana is set to welcome a trailblazing new floating production, storage and offloading (FPSO) vessel next year. The ONE GUYANA vessel, being constructed by SBM Offshore, is targeting the highest initial oil production observed in the industry for an...
Horizon56 has showcased the transformative impact of its RigFlow™ and RigBridge™ solutions on offshore operations in Guyana’s Stabroek Block. ExxonMobil is the operator of the asset alongside Hess and CNOOC.
Horizon said its digital tools have significantly enhanced efficiency, safety,...
The Greater Guyana Initiative (GGI) has put out a call for new proposals aimed at advancing strategic capacity development across the South American nation.
Backed by a substantial US$100 million (GY$20 billion) investment from ExxonMobil Guyana Limited, Hess Guyana Exploration...
Oil production offshore Guyana is generating over US$1.5 billion a month, ExxonMobil Guyana Vice President, Philip Rietema said.
“Today, we’re producing over 600,000 barrels a day and oil produced is revenue produced, is revenue to be shared among the people...
A recent International Energy Agency (IEA) report revealed that global oil demand is set to decelerate as the energy transition gains momentum. However, Guyana’s oil and gas sector will continue its rapid expansion. Last year, President Irfaan Ali emphasized...
The Stabroek Block partners’ investments in Guyana’s petroleum sector are paying off with US$6.3 billion (approx. GY$1.3 trillion) in combined profits reported for 2023. Their profits grew 12% from the prior year. This is based on a consolidation of...
