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Noble forging ahead with plans to increase local capacity in South America’s hottest basin 

OilNOW -
Building Guyana’s local capacity remains paramount to Noble Corporation, the driller with the most rigs in the ExxonMobil-operated Stabroek Block.  Noble said its four-year Local Content Master Plan draws on set targets to use locals where applicable and invest in...
News

World Court gives Venezuela one year to file counter Memorial in Guyana border case

OilNOW -
The International Court of Justice has given Venezuela one more year to file a counter Memorial in the ongoing border case with Guyana - April 8, 2024. The case centers on the legal validity and binding effect of the...
News

Liza field development lifetime to be extended to accommodate gas project  – VP

OilNOW -
The lifetime of Guyana’s first Stabroek Block development - Liza Phase 1 is set to be extended to accommodate the Gas-to-Energy (GTE) project, Vice President, Dr. Bharrat Jagdeo said.  The Liza permit is currently under review.  The GTE is set to...
News

Guyana to issue permit for Exxon’s Uaru project in 2-3 weeks – VP

OilNOW -
Guyana's Vice President Dr. Bharrat Jagdeo said the review of Exxon’s proposed Uaru project has been “practically” completed, and that final approval is expected in a maximum of 2-3 weeks.  Presently, the Ministry of Natural Resources is conducting its final...
News

Guyana’s updated model oil contracts for release this month 

OilNOW -
A two-week period of consultation was recently concluded on the indicative terms and guidelines of Guyana’s first ever offshore licensing round, and the draft model petroleum agreements. The government plans to release the updated models this month.  The deadline for...
Opinions

How companies can win in the upcoming oil auctions in Guyana

OilNOW -
By Arthur Deakin - OilNOW Within months, Guyana is expected to have auctioned 14 different oil blocks surrounding the biggest offshore oil discovery in the last decade. The government has announced that there could be 25 billion barrels of...
News

Guyana will be “gift that keeps on giving” – Analyst 

OilNOW -
Guyana’s value to ExxonMobil will be felt for decades to come, according to an Analyst at Seeking Alpha, a crowd-sourced content service provider that publishes news on financial markets.  In his latest piece on April 12, the analyst examined Exxon’s...
News

Here’s a factsheet about Guyana’s draft model oil contracts

Kemol King -
Guyana’s ongoing offshore licensing round offers 14 blocks - 11 in the shallow water, and three in the deep. The draft model contracts will govern new licenses to be issued to winning bidders, and existing deals outside of the...
News

Guyana among world’s most powerful countries looking to produce as much oil and gas as it can

Shikema Dey -
The rapid development of oil and gas resources is not only high on Guyana’s agenda but that of some of the world’s most powerful nations. In fact, Guyana ranks sixth on a list of 30 big oil-producing countries pursuing new...
News

IMF significantly increases Guyana’s growth forecast for 2023, 2024

OilNOW -
Guyana’s growth forecast from the International Monetary Fund (IMF) has been given a considerable boost. While the institution’s 2022 Article IV report had estimated Guyana’s real gross domestic product (GDP) would grow 25.2% in 2023, this has been revised...
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Applications open for GTTCI Instructor roles to support offshore oil training

The Government of Guyana is inviting applications for eight Instructor positions at the new Guyana Technical Training College Incorporated...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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