The impending entry of more major oil companies into Guyana’s oil basin has been met with enthusiasm, with Natural Resources Minister Vickram Bharrat deeming it a welcome development for the nation’s growing energy industry.
“The talks between Total, Qatar and...
Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola, have structured their petroleum fiscal regimes to strike the right balance between incentivizing investment and reflecting the risks faced by...
Guyanese regulators have approved MODEC’s Local Content Master Plan 2024-2028.
The plan outlines MODEC's push to integrate Guyanese companies and nationals into its operations for a five-year period. Procurement opportunities for Guyanese companies are already being unveiled, with about 32 announced...
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...
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...
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...
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...
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,...
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...
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...
