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News

Participants told over $70 billion spent on local companies at opening of Exxon’s Supplier Forum

OilNOW -
The Centre for Local Business Development on Monday opened its Virtual Guyana Supplier Forum which is geared towards increasing the participation of local companies in the oil and gas supply chain. Addressing the opening of the Forum, which was held...
News

Oil paved way for over 20 suppliers, 15 sub-contractors and 212% ramp-up in staff – says Guyanese firm Gaico

OilNOW -
Within less than five years of joining the ranks of service providers for ExxonMobil which is leading development and exploration operations in the Stabroek Block offshore Guyana, Gaico Construction Inc. has matured into one of the company’s key Guyanese...
Exploration

Exxon, Shell and CNOOC could be most active explorers by end of 2021 – Westwood Energy

OilNOW -
ExxonMobil, Shell and CNOOC are expected to be the most active explorers by the end of 2021 with a significant portion of the offshore activity taking place in Guyana where multiple prospects remain on the prolific Stabroek block and...
Opinions

A contextual Economic & Financial Analysis of Guyana’s Gas to Shore Project

OilNOW -
By Joel Bhagwandin Part 1 Gas contained at the Liza Phase 1 Development can facilitate the production of 200 megawatts of power generation, enough to power the entire country and can be sustained for more than 15 years. More recently, it...
News

Oil, other activities in Guyana’s Exclusive Economic Zone will be protected – President Ali

OilNOW -
In light of Venezuela’s heightened aggression which saw the recent illegal detention of two Guyanese registered vessels and their respective crews on January 21, last, many have expressed concerns about the possible interference or disruption of Guyana’s oil production activities being led by ExxonMobil...
News

Brazil sweetening pot for oil investors to offset competition from Guyana, Suriname

OilNOW -
Brazil is facing intense competition for oil investments from countries around the globe, including neighbors Guyana, Suriname and Uruguay, and policy makers in Latin America’s biggest economy are now hammering out a new regulatory and production-sharing framework to make...
News

Topside construction underway for 220,000 bpd Prosperity FPSO

OilNOW -
The hull for the giant Prosperity FPSO targeting ExxonMobil’s third development offshore Guyana is complete and the vessel is now moving to the next stage of construction in Singapore. Greg Hill, Chief Operating Officer at Hess Corporation, a 30% stakeholder...
News

Stena DrillMAX, Noble Sam Croft will add to Exxon’s Guyana fleet in major ramp up this year

OilNOW -
Chief Operating Officer (COO) of Hess Corporation, Greg Hill, confirmed during his company’s 2020 fourth-quarter earnings call on Wednesday that ExxonMobil, operator at the Stabroek Block, will be adding the Stena DrillMAX and Noble Sam Croft to its fleet,...
News

Liza Unity FPSO could begin journey to Guyana as early as mid-year – Hess

OilNOW -
While the Liza Phase 2 development remains on track for first oil in early 2022, the overall project, including the floating production storage and offloading (FPSO) vessel and the drilling and subsea infrastructure are approximately 85% complete. At this...
News

Hess reports US$97M loss for Q4 2020

OilNOW -
Hess Corporation, a 30% co-venturer on Guyana’s Stabroek Block, announced on Wednesday that it suffered a net loss of US$97 million, or $0.32 per common share, in the fourth quarter of 2020, compared with a net loss of US$222...
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Latest News

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Venezuela flouts World Court Order barring elections in Guyana’s Essequibo region

Venezuela has rejected a binding order issued by the International Court of Justice (ICJ) prohibiting it from conducting elections...

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