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Revised model PSA targeting future licensing rounds – Energy Department confirms

Guyana’s President, David Granger has made it clear that his APNU+AFC coalition administration respects the sanctity of contracts. This is a position the Department...

Guyana moving ahead with new model PSA

A review of Guyana’s 1986 Petroleum (Exploration and Production) Act is underway as the country moves to modify and modernize the document which is the basis for...

Government to release Petroleum Agreement for Ratio Guyana Limited tomorrow

OilNOW can confirm that the Government will on Wednesday February 28, 2018 release the Petroleum Agreement between itself and the principals of Ratio Guyana...

Incentives contained in ExxonMobil PSA not unique to Guyana – MNR

The Ministry of Natural Resources on Tuesday urged that members of the media fraternity in Guyana acquaint themselves with industry specific knowledge and an...

Placing contract in public domain is ‘fantastic step in right direction’...

Placing the petroleum agreement between Guyana and ExxonMobil affiliate Esso Exploration and Production Guyana Limited in the public domain is a step in the...

Trotman confirms US$1M per day earnings from oil production; says contract...

Guyana’s Minister of Natural Resources, Raphael Trotman, said Thursday that the updated petroleum agreement arrived at between US oil major ExxonMobil and the South...

‘Sorry for those expecting scandal bombshells’ – Fmr Natural Resources Minister

Following the much anticipated public disclosure of the petroleum agreement between Guyana and ExxonMobil, a former government minister who headed the natural resources ministry...

‘Unreasonable to compare Guyana’s PSA to those of more mature countries’...

Country Manager of ExxonMobil in Guyana Rod Henson said it is unreasonable to compare the agreement signed between his company and the Government of...

The Nigerian Production Sharing Contract: An Overview

The Production Sharing Contract (PSC) was widely introduced in 1993 to address some of the issues faced by the Joint Operating Agreement (JOA) and...

Contract disclosure: Exxon, Natural Resources weigh in

ExxonMobil Guyana said on Thursday it remains committed to transparency while the country’s Minister of Natural Resources signaled government’s intent to eventually release all...