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Jaguar FPSO to follow Liza Unity model – SBM Offshore CEO 

Shikema Dey -
SBM Offshore's Chief Executive Officer, Øivind Tangen confirmed that the upcoming Jaguar floating production storage and offloading vessel (FPSO) will be executed with the same team and expertise that handled the Liza Unity FPSO.  “We inherently bring all the learnings...
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Four out of six bidders accept new Guyana PSA terms – Ministry 

Shikema Dey -
Four of the bidders in Guyana’s maiden offshore auction have accepted the terms of its new production sharing agreement (PSA), the Ministry of Natural Resources announced on Wednesday.  The auction, executed last year, saw the S3 and D2 Blocks awarded...
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US$8.9 million pumped into training initiatives for Guyana’s oil sector 

OilNOW -
Training initiatives for Guyana’s oil and gas sector have seen an investment of US$8.6 million, according to the recently released Mid-Year Report from the Ministry of Finance.  Labor scarcity in Guyana’s market is a known issue, especially in the oil...
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Guyana surpasses Trinidad in hydrocarbon production 

Kemol King -
Guyana now produces more hydrocarbons in the Caribbean region than veteran producer Trinidad and Tobago (TT).  Data from TT's Ministry of Energy and Energy Industries shows oil and condensate production of 50,246 barrels per day (b/d) in the first four...
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United States, Guyana, Canada and Brazil accounting for three-quarters of non-OPEC+ supply gains

OilNOW -
The International Energy Agency (IEA) says despite the marked slowdown in Chinese oil demand growth, OPEC+ has yet to call time on its plan to gradually unwind voluntary production cuts starting in the fourth quarter of this year. However,...
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Guyana projects help boost SBM Offshore half-year earnings as 8th hull reserved for Suriname

OilNOW -
SBM Offshore posted strong financial performance in the first half of 2024, with directional revenue increasing to US$1,840 million - a 23% increase compared to the same period last year. Directional Turnkey revenue rose to US$662 million compared to US$558...
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Liza was Exxon’s ‘well from hell’

OilNOW -
Liza, the now well off the coast of Guyana, earned the nickname "well from hell" during its drilling phase, as recounted by former ExxonMobil geoscientist Scott Dyksterhuis. Convinced there was a significant oil reserve more than three miles beneath...
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Guyana quickly moving up the ranks of World Bank’s high income economies

OilNOW -
Guyana is quickly moving up the rankings of the World Bank’s high-income economies. After joining the high-income group last year, the country jumped four places to 63rd based on 2023 growth. The ranking is based on the Bank’s calculation of...
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Gas development is now a priority for Exxon – Guyana Vice President 

OilNOW -
Guyana's Vice President Bharrat Jagdeo said ExxonMobil has communicated to the government its prioritization of gas development. “Exxon has said, ‘we have moved this up to a priority now.’ We now have a company that is interested in moving it...
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ExxonMobil Guyana buys vessel monitoring and alert system from Parisian group

OilNOW -
Viridien, formerly CGG, said its Sensing & Monitoring business line, marketed under the Sercel brand, has made a sale of its Marlin™ vessel monitoring and alert system to ExxonMobil Guyana to support its offshore operations in Guyana. The sophisticated system...
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Afreximbank COO pitches partnership for Suriname’s SMEs

PARAMARIBO, SURINAME – The African Export-Import Bank (Afreximbank) wants to be a long-term financial partner for small and medium-sized...

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