Although 2019 was a disappointing year in terms of high impact well (HIW) drilling in the oil and gas sector, comparatively stable market conditions are favoring new exploration activity in 2020 for areas that combine high risk and high...
Italian engineering and drilling services firm Saipem announced that it has been awarded several EPCI contracts worth over 500 million USD in various countries around the world.
A press release from the company on February 6, 2020 said that the...
The Guyana Extractive Industries Transparency Initiative (GYEITI) will soon be receiving information regarding Guyana’s first trades in oil now that the country has commenced production.
The local EITI chapter, headed by Dr Rudy Jadoopat, held a meeting with the Department...
Italian firm Saipem has signed a Memorandum of Understanding (MoU) with Gulf Petrochemical Industries Company (GPIC), a joint venture equally owned by the National Oil and Gas Holding Company in the Kingdom of Bahrain, SABIC Agri-nutrient Investments in the...
The first tanker has sailed and Guyana is now among the oil producing countries of the world. Annual revenue is set to move from around US$300 million in the first years to US$10 billion per annum by 2030.
“The economic...
Even as debate rages on in the South American country of Guyana on whether revenues flowing to the government from oil production could have been higher, the small nation of just over 750,000 people is set to cash in...
The economic fortunes of Guyana, with a population of only around 800,000, are poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil production is expected to grow rapidly in the...
As the government in the South American country of Guyana prepares to lift its first shipment of oil from the Liza Phase 1 Development, the largest demand shock the oil market has suffered since the global financial crisis of...
What's the role for the exploration industry as the energy transition takes long-term oil growth off the agenda? In 2019, Andrew Latham, vice president of global exploration at Wood Mackenzie, asked if there's room for explorers in a low-carbon...
Demand from the world’s top oil companies for floating drilling units has climbed steadily in the past two years and is set to rise further through 2020 and 2021.
Norway-based Rystad Energy said this trend is a result of the...
