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Hess says its Bakken rigs have been electrified

OilNOW -
In an environmental and cost-saving leap forward, Hess Corporation has announced that it successfully electrified its four drilling rigs in Bakken, North Dakota, replacing the traditionally used diesel fuel with electricity. The shift is projected to cut down greenhouse...
News

Few oil execs would want to take on unlimited financial risk, expert says

Shikema Dey -
The recent ruling handed down by a Guyana Court Judge regarding ExxonMobil Guyana's insurance obligations for its operations offshore the South American country is engaging the attention of a number of stakeholders and experts in the oil and gas...
Opinions

FPSOs’ Role In Raising Guyana’s Position In The Market: What Does This Mean For Production and Revenues?

OilNOW -
By Cristina Caus - OilNOW On April 11, 2023, the floating production, storage and offloading vessel (FPSO) Prosperity arrived in Guyana and joined the other two FPSOs, Liza Destiny and Liza Unity. This became the third FPSO vessel that has...
News

Guyana regulator moves to overturn court judgment on Exxon assurance guarantee

OilNOW -
The Environmental Protection Agency (EPA) has filed an appeal against a recent upset judgment by the High Court. Justice Sandil Kissoon directed the EPA to secure an unlimited parent and/or affiliate guarantee, based on a provision in ExxonMobil Guyana’s...
News

Exxon reviewing Guyana court ruling, says insurance exceeds industry benchmarks

OilNOW -
ExxonMobil Guyana said it is reviewing a recent High Court ruling regarding the necessity of a financial guarantee for its operations in Guyana, and considering potential next steps. It expressed disappointment that the court did not recognise its financial...
News

Local Content proving itself as tool to combat Dutch Disease in Guyana

OilNOW -
Local Content accounted for 5% of Guyana's economy in 2022, marking a milestone for the country's efforts towards economic diversification and combatting the dreaded Dutch Disease. The Local Content Act of Guyana, which mandates the procurement of goods and...
Opinions

From Black Gold to Green Fields: The Promise of Guyana’s Oil Wealth in Supporting Agriculture

OilNOW -
By Dr. Carolyn Walcott & Dr. Terrence Blackman Guyana, a small country on the Atlantic coast of South America, is in the throes of a significant economic transformation. The 2015 discovery of large oil and gas reserves off its coast...
News

Maxar’s Crow’s Nest to boost Guyana’s monitoring of offshore operations

Shikema Dey -
Guyana’s Environmental Protection Agency (EPA) has teamed up with Maxar Technologies for the provision of environmental monitoring services for both offshore and terrestrial applications. Executive Director, Kemraj Parsram said it falls under the Agency’s updated mandate to modernise its operations...
News

Hess boss champions forest preservation at Guyana energy conference

OilNOW -
Chief Executive Officer of Hess Corporation, John Hess, discussed the company’s motivation for investing in Guyana’s forest preservation drive, at the International Energy Conference 2023, which opened in Georgetown on Tuesday. “We are honoured to be Guyana’s partner in this,”...
News

Guyana and Suriname forge closer private sector ties

OilNOW -
Guyana’s Private Sector Commission is establishing closer ties with its Surinamese counterpart for enhanced collaboration as both countries pursue oil and gas development.  The Guyana-Suriname Private Sector Business Council headed by Guyanese Paul Cheong was created in 2022 and on...
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Saipem targets local content growth in logistics, fabrication for Suriname oil project

PARAMARIBO, SURINAME – Saipem is setting the stage for major local content contributions in Suriname through its work on...

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