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Who will win Guyana’s coveted oil blocks?

OilNOW -
With less than two weeks left for companies to participate, anticipation remains high on the outcome of Guyana's first bid round. At stake is a potential 25 billion barrels of oil equivalent up for grabs. It is clear that...
News

Repsol asks Guyana for brand new license for Kanuku Block

Kemol King -
Kanuku block operator, Repsol, has applied for a new exploration license for the acreage. Guyana's Vice President Dr. Bharrat Jagdeo confirmed this in a comment to OilNOW on Thursday. He said the government has to consider it. Repsol appears...
News

APNU+AFC-led gov’t granted Exxon extension for three oil blocks, documents show

OilNOW -
The Guyana Government clarified on Tuesday that an extension for exploration on three blocks operated by ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), was actually granted by its predecessor, and must therefore be honoured.  The government's statement follows...
News

APA Corp. in talks for joint development with Guyana after Block 58 discoveries

OilNOW -
With the Block 58 discoveries offshore Suriname seeming promising, APA Corp. is mulling the installation of a floating liquefied natural gas (FLNG) terminal in the basin. As reported by Bloomberg, APA’s Vice President Gary Clark told investors at the Enercom...
Exploration

Canada-based exploration company targeting ‘multi-hundred million’ payloads at Guyana block   

OilNOW -
A Canada-based oil and gas company is targeting a multi-hundred million barrel stacked pay opportunity at the Orinduik Block, offshore the South American country of Guyana. The exploration company - Eco (Atlantic) Oil & Gas Ltd. - said its...
News

Frontera eats up more of CGX’s shares in Corentyne Block to offset increased costs for Wei-1 drilling 

OilNOW -
Frontera Energy Corporation will soon hold a 72.7% Participating Interest (PI) in Guyana’s Corentyne Block as per an amended Joint Operating Agreement (JOA) with CGX Energy, its partner.  The amendment, CGX announced on August 10, will effectively see Frontera farming...
Exploration

Staatsolie boss confident of FID for Suriname’s Block 58 next year; says more resources accumulating

Shikema Dey -
2024 has been confirmed as the timeline for Suriname’s Block 58 Final Investment Decision (FID) signaling a potential start to offshore oil production in the South American country.  That timeline was confirmed to OilNOW by Managing Director of Staatsolie -...
News

Guyana moves oil blocks bid submission deadline to September 12, 2023

OilNOW -
The Ministry of Natural Resources has extended the deadline for bid submissions in the Guyana 2022 Offshore Licensing Round to September 12, 2023.  The government is working to pass into law, its Petroleum Activities Bill 2023, which will establish a...
News

Brazil raked in US$12.9 billion in signing bonuses for 15 pre-salt blocks – Report 

OilNOW -
Brazil was able to cop a total of US$12.882 billion in signing bonuses from 15 block awards in its pre-salt area since the state-owned Petrobras made the first discovery back in 2006. This is according to the recent Economic...
News

African Chamber says Stabilization Clause in Stabroek PSA delivering major benefits, wants Namibia to follow suit

Shikema Dey -
Having significant hydrocarbon reserves certainly will get energy companies’ attention, but holding the companies’ interest — and convincing them to continue investing billions of dollars in exploration and production activities — requires deliberate, strategic measures on the part of...
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Latest News

NewsOilNOW -

Keystone Consulting debuts at OTC: set to deliver grounded market intelligence on Guyana, region 

Houston, Texas, United States - Keystone Consulting (Guyana) Inc., a new research, marketing, and business intelligence firm, was officially...

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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