Guyana trails behind only the U.S. and Brazil as the fastest growing oil producers not part of the Organization of Petroleum Exporting Countries (OPEC). A new report from the U.S. Energy Information Administration (EIA) said the ranking was made because...

Oil production offshore Guyana averaged 625,000 barrels per day (b/d) in April, with a monthly total of 18.76 million barrels, according to data published by the government. In both respects, April saw the second highest monthly on record after...

Luiz Hayum, a principal analyst with Wood Mackenzie's Latin America upstream research team, sees Guyana’s oil bounty raking in huge sums for the ExxonMobil-led consortium and the government.  “Our valuation for Stabroek’s ten-FPSO development is over US$150 billion at US$65/barrel...

Guyana’s Natural Resource Fund (NRF) closed April 2024 with a market value of US$2.634 billion (GY$549 billion), nearly equivalent to half of the country’s US$5.496 billion (GY$1.146 trillion) national budget this year.  Annual revenues to the government from oil production...

ExxonMobil Guyana is forging ahead with its Stabroek Block drilling program with two appraisal wells being targeted at the Haimara gas field, discovered five years ago. This is according to a document published in Guyana’s Official Gazette. The program includes the...

Consultancy Group, Wood Mackenzie puts Suriname’s oil resource count at more than 2.4 billion barrels and its natural gas resources at 12.5 trillion cubic feet (tcf).  Based on WoodMac’s numbers, assuming one trillion cubic feet of gas equals 176 million...

Seatrium Limited said it was awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of the Jaguar floating production, storage and offloading (FPSO) vessel destined for Guyana.  Seatrium’s scope of work...

ExxonMobil Guyana has increased its estimate of reserves in its Stabroek Block development projects by 600 million barrels on top of the estimates announced when the projects were sanctioned. “We review the reserves of each project each year and make...

ExxonMobil is expected to accumulate approximately 516 million barrels of oil production offshore Guyana since first oil in December 2019. The US oil major has already produced more than 370 million barrels so far, according to production data published...

Japanese shipbuilder MODEC will hold a Vendor Engagement Forum on May 14, 2024. The company will engage with Guyanese suppliers at the Centre for Local Business Development (CLBD) office in Georgetown. The forum will include information-sharing about MODEC’s procurement...