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Year in review: 2017’s Top 10 discoveries

OilNOW -
(Offshore Engineer) While exploration hasn’t been as hot as it used to be, the finds this year have been big and plentiful. Wood Mackenzie has provided the year’s 10 biggest finds by volume. #1 – Yakaar, Senegal In May this year,...
News

TechnipFMC awarded contract for Statoil Snorre project

OilNOW -
TechnipFMC has landed an Engineering, Procurement & Construction (EPC) contract with Statoil for its Snorre Expansion Project. It comes as the Norwegian operator confirmed an additional 25-year investment. The Snorre Expansion contract covers the delivery of subsea production systems and...
News

SBM Offshore completes US$720M Liza Destiny financing

OilNOW -
SBM Offshore said on Wednesday that on December 19, 2017 it completed the project financing of FPSO Liza Destiny for a total of US$720M. The project financing was secured by a consortium of twelve international banks. The Company expects to draw the...
News

Guyana waives import taxes to set up ‘natural gas’ refilling stations

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The Guyana Government in its push to prepare for an Oil and Gas sector has, as part of its incentive regime for the private sector, waived all Customs duties for machinery and equipment imported to set up refilling stations...
News

ExxonMobil makes discovery off Equatorial Guinea

OilNOW -
Fresh off its Turbot-1 well discovery in the South American nation of Guyana, ExxonMobil has made a discovery at the Avestruz-1 well drilled offshore Equatorial Guinea, though the commerciality of the find is still to be determined. The well was...
News

Guyana shortlists sites for ‘natural gas’ power plant

OilNOW -
The Guyana Government has identified two sites in Regions Four and Six for the construction of a new power generation facility, utilizing natural gas to be had from offshore oil production activities. The revelation was made by Minister of Public...
News

Don’t blame oil companies; hold gov’t accountable – Foreign Affairs Minister

OilNOW -
Guyana’s Minister of Foreign Affairs, Carl Greenidge, says the Government has a responsibility to ensure monies collected from oil companies are spent in the best interest of the country and failure to hold companies accountable must be placed at the...
Exploration

‘We want to look back 10 years from now and say we helped Guyana’ – Exxon Country Manager

OilNOW -
ExxonMobil Guyana Country Manager, Rod Henson says the company would like to look back 10 years from now and see that its presence would have served to help the South American country of 750,000 people. Guyana will enter the league...
News

CNOOC starts oil production at Weizhou oil field

OilNOW -
CNOOC Ltd. (NYSE: CEO) has already commenced production for its Weizhou 12-2 oil field phase II project, the company said on Tuesday. The Weizhou 12-2 oil field phase II project is located in Beibu Gulf in the South China Sea...
News

Hess wraps up sale of interests in Equatorial Guinea

OilNOW -
Hess Corporation said Tuesday it has completed the previously announced sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650 million, effective January 1, 2017. “Our 2017 asset monetizations have exceeded expectations in terms of value and...
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MODEC spent US$3.4 million with Guyanese suppliers in 2024

Japanese company MODEC reported in a press statement today that it spent US$3.4 million procuring goods and services from...

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