Discussions have been ongoing about the nature of the Production Sharing Agreement (PSA) Guyana has entered with ExxonMobil for the Stabroek block since oil was discovered back in 2015 and production got underway in December 2019. But what exactly are PSAs?...

Whatever the pace of the energy transition, the world will still rely on oil and gas for much of its energy needs until well beyond 2040. UK-based global energy group Wood Mackenzie says exploration will be critical in meeting this future...

Investors and governments from around the world have been discussing various opportunities with Guyanese authorities in recent months that could potentially see hundreds of billions of dollars being plugged into South America’s newest oil and gas hotspot. Chief Executive Officer...

With massive volumes of hydrocarbons being found in the Guyana-Suriname basin in recent years, development of these resources will require significant shorebase support services which leaders of both countries believe can be established by way of a joint initiative. The...

American international industrial service company, Baker Hughes, is moving to set up an Oilfield Service Facility at Land of Canaan on the East Bank of Demerara in Guyana, where it expects to provide employment for over 70 Guyanese during...

Guyana’s President, Dr Mohamed Irfaan Ali, has arrived in Suriname for a state visit over the period November 23 to 26, during which time discussions will be held with President Chandrikapersad Santokhi to build on the issues advanced during...

Grand Canal Industrial Estates Inc. (GCIE), a subsidiary of CGX Energy Inc., has begun seeking human resources personnel for its Berbice Deep Water Port facility, located in the new oil producing country of Guyana. In multiple advertisements in the local...

The projected breakeven price for development of oil fields offshore Suriname is expected to reduce in coming years as more discoveries are made, and production gets underway. So far, three discoveries have been made at Block 58, estimated to contain...

The drillship Stena Carron is set to depart the Tanager-1 well site in the Kaieteur block and will take up a new assignment at the Redtail area, back in the adjacent Stabroek block, for an exercise that is set...

Guyana is poised to significantly reduce its reliance on imported fossil fuel to meet its energy needs through the utilisation of natural gas from the offshore Liza field at the Stabroek block. There has been broad-based consensus on the...