While both President, Dr Irfaan Ali and Vice President, Dr. Bharrat Jagdeo have categorically stated that Guyana has a right to develop its oil resources for the benefit of its people, it has no intention of allowing the Stabroek...

The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease...

The two oil discoveries announced by ExxonMobil on Wednesday add to 26 commercial finds in Guyana which the Ministry of Natural Resources said will further strengthen the South American country’s position as a major new oil and gas hotspot. Exxon...

“This is not normal.” This is how the unprecedented success ExxonMobil has been having offshore Guyana is being described by head of its operations in the South American country, Alistair Routledge. “We reached the huge milestone of declaring 10 billion...

Bank of Guyana Governor, Dr. Gobind Ganga confirmed to OilNOW on Wednesday that the Natural Resource Fund (NRF) closed 2021 with US$608M on its balance sheet. He said the last lift, which occurred in November, raked in approximately US$74M. Guyana’s...

ExxonMobil and the Government of Guyana on Wednesday announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was...

Guyana’s Environmental Protection Agency (EPA) will soon launch a new technology system that will allow it to monitor the offshore exploration and production activities in real time. OilNOW understands the system is being tested and is likely to be officially...

CNOOC Limited says Caofeidian 11-6 oilfield expansion project and Kenli 16-1 oilfield have commenced production. Caofeidian 11-6 oilfield expansion project is located in the west of Bohai Sea, with average water depth of about 23 meters. In addition to fully...

A senior government official told lawmakers last week that Guyana must prepare for a massive uptick in demand for a range of goods and services driven by what can become a 12-FPSO, 1.5 million barrels of oil per day...

Now in its second year of oil production, Guyana’s oil and gas industry is still in its infant stage. The massive operations offshore are driving exploration activities across several blocks and production at the giant Stabroek Block where ExxonMobil...