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Exxon cops OTC award for Liza developments offshore Guyana

OilNOW -
The Offshore Technology Conference (OTC) presented ExxonMobil with the OTC Distinguished Achievement Award in recognition of its affiliate Esso Exploration and Production Guyana Limited’s Liza Developments in the offshore Stabroek Block. OTC said Liza Phase 1 was “one of the...
Energy Insights

Exxon made US$56 billion last year. So, what?

OilNOW -
ExxonMobil made a US$55.7 billion profit in 2022. That is a huge number. So, when Guyanese media outlets report on the oil major’s earnings, many locals are quick to assume that these earnings are Esso Exploration and Production Guyana...
News

Prosperity FPSO first to be outfitted with fabricated steel from Guyana

OilNOW -
Guyana grabbed a massive win for local content with the Prosperity vessel. According to SBM Offshore, it is the first Guyana floating, production, storage, and offloading (FPSO) vessel to incorporate Guyanese fabricated steel. And that stellar feat was made possible by...
Exploration

Wei-1 exploration to cost up to US$170 million – Frontera Energy

OilNOW -
Corentyne Block majority stakeholder, Frontera Energy, said the total cost of the Wei-1 well (including 2022 pre-drill costs and costs related to drilling delays) are forecast to be approximately US$160-$170 million. Frontera anticipates it will spend approximately US$120-$140 million on...
News

Fast4Ward concept revolutionised offshore projects – SBM Offshore CEO

OilNOW -
SBM Offshore’s Fast4Ward® concept is transforming the way offshore projects are developed.  “It really has changed the way we are doing projects in the industry,” said the company's Chief Executive Officer (CEO), Bruno Chabas, during the Naming Ceremony for the...
News

Guyana looking to establish a petroleum data repository

OilNOW -
Guyana plans to hire a consultant this year to set the stage for the establishment of the government’s own petroleum data repository. “We will have to determine first of all what data we need to store, the size of the...
Opinions

Energy diplomacy in Guyana and Caricom

OilNOW -
By Dr. Riyad Insanally - OilNOW Introduction On January 24 last, the Kaieteur News (KN) reported that an erroneous map of Guyana was used by Rystad Energy, as part of a panel discussion at the recently held Trinidad and Tobago (T&T)...
News

Guyana First Lady says new oil production vessel creates link to brighter future

OilNOW -
Singapore, February 1, 2023: First Lady of Guyana, Arya Ali, says the name of the Prosperity floating production, storage and offloading (FPSO) vessel represents what is in store for the people of the new oil producing South American country....
News

Guyana bid round: New fiscal terms won’t deter investors – Deakin

Shikema Dey -
Interest from investors in Guyana's upcoming bid round is expected to be favourable despite revised fiscal terms in the new Production-Sharing Agreement (PSA) that will see more revenue going to the South American country. “I do not see those fiscal...
News

Guyana budgets GY$100.7M to review Exxon’s Whiptail field plan

OilNOW -
Guyana Minister of Natural Resources, Vickram Bharrat, said Tuesday that GY$100.7 million (approximately US$483,000) has been budgeted to review the Whiptail field development plan (FDP). The government, he said, has received indication that the plan will be submitted in 2023. The...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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