Offshore oil production in Guyana averaged 627,000 barrels per day (b/d) in March 2025, a modest dip from February’s 648,000 b/d. Despite the daily average easing, total production for March climbed to 19.4 million barrels, outperforming the 18.1 million...
Offshore Frontier Solutions Pte. Ltd. (OFS), a joint venture between MODEC Inc. and Toyo Engineering Corporation, has secured a contract for ExxonMobil Guyana’s Hammerhead project.
The contract, awarded by MODEC, Inc., covers Engineering, Procurement, Construction, and Installation (EPCI) of the...
Deepwater exploration is the final frontier for discovering the oil and gas needed to fuel the global energy transition, according to GeoExpro, a global energy magazine.
“This is the hope that keeps us here,” a recent GeoExpro report explained, noting...
Baker Hughes announced strong first-quarter results, driven by “record orders and major contract wins.
The company released its 2025 quarter report on April 22, revealing that it has secured a significant award from ExxonMobil Guyana. It will supply specialty chemicals...
In 2024, a third of MODEC's total revenue came from its operations in Guyana, as the company gears up to supply a large floating production, storage and offloading (FPSO) vessel to the Stabroek Block next year.
In its annual report,...
Subsea tree unit awards slumped to 32 in the first quarter (Q1) of 2025, marking a 65% quarter-over-quarter decline, according to Westwood’s Global Subsea Tracker. The drop reflects ongoing macroeconomic challenges and inflation-driven delays in project approvals and contract...
ExxonMobil has awarded a limited notice to proceed to Japanese offshore engineering firm MODEC for the development of a floating production, storage, and offloading (FPSO) vessel for its Hammerhead project offshore Guyana, MODEC said on Monday.
The contract is MODEC’s...
A voyage of over 11,000 nautical miles (20,000 kilometers) concluded for the ONE GUYANA floating, production, storage and offloading (FPSO) vessel. The vessel departed Singapore 60 days ago, arriving in Guyana on schedule.
First Lady of Guyana, Arya Ali was...
DOF Subsea reported a record performance in 2024, driven by strong market activity across all regions. The Group said it achieved 88% fleet utilisation, supported by a robust backlog at the start of the year and strong operational execution.
According...
The start-up of ExxonMobil’s Yellowtail Development in the Stabroek Block draws near as the ONE GUYANA floating production, storage and offloading vessel (FPSO) officially arrived in country today.
On the vessel’s arrival, Minister of Natural Resources, Vickram Bharrat, shared, “The...
