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SURINAME | OILNOW
Suriname Energy Oil & Gas Summit 2021 virtual edition got underway on Tuesday with the South American country’s massive deepwater potential taking centre-stage in GIANT YELLOWTAIL FPSO WILL PRODUCE UP TO 7.5 MILLION The offshore developments in Guyana are growing both in number and capacity, with the fourth proposed project at Yellowtail being designed to utilize a giant floating production storage and offloading (FPSO) vessel capable of holding 2 million barrels of oil within its hull. The vessel will have YELLOWTAIL WILL BE GUYANA’S BIGGEST OFFSHORE DEVELOPMENT The Yellowtail development, Guyana’s fourth deepwater petroleum production project, is targeting 250,000 barrels of oil per day, the largest volumes yet for a single development offshore the South American country. According to documents submitted GUYANA NOW HAS A LOCAL CONTENT POLICY Guyana now has a Local Content Policy. Dr. Mark Bynoe, Director of Guyana’s Department of Energy (DE), speaking at a press conference on Monday, February 10, 2020 in Georgetown, Guyana. The much-anticipated Local Content Policy (LCP) that sets the framework within which companies in Guyana’s oil and gas sector are expectedto operate has
SAIPEM SET TO OPEN MAJOR CONSTRUCTION FACILITY IN GUYANA Italian oilfield services company Saipem will officially open its offshore construction facility this month in Guyana’s capital Georgetown, to support the growing offshore operations in the new oil producing South American country. The facility will feature a heavy load bearing jetty, the larges GUYANA’S 4TH FPSO COULD BE TARGETING PRODUCTION AT THE Guyana’s 4th FPSO could be targeting production at the Yellowtail area. The hull for the Prosperity FPSO, targeting Guyana's 3rd offshore development. The Yellowtail area offshore the South American country of Guyana contains oily fluids similar to those of the Liza discovery which US oil major ExxonMobil made back in 2015. US$10 BILLION A YEAR BY 2030 TAKES GUYANA FROM 0 TO 100 IN Rystad Energy forecasts that Guyana’s oil production could reach 1.2 million barrels per day by 2030, lifting total annual oil revenues to about $28 billion, assuming an oil price of about $65 per barrel. “Government income in the country – projected to be a modest $270 million or so in 2020 – is forecast to grow rapidly and could reach SHELL LOOKING TO STRIKE IT BIG ON ‘GOLDEN LANE OF OIL IN Six years after giving up its stake in the Stabroek Block offshore Guyana where operator ExxonMobil went on to make the first world class Liza discovery just months later, Shell is now looking to strike it big on the ‘Golden Lane of Oil’ where it is set to begin exploration activities in Surinam SAIPEM SECURES US$325 MILLION CONTRACT FOR BÚZIOS PRE-SALT Saipem secures US$325 million contract for Búzios pre-salt field in Brazil. Italian multinational oilfield services company Saipem said on Monday it has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshorethe
OILNOW - NEWS AND INFORMATION FROM THE OIL AND GAS SECTORUPDATESE&PDISCOVERIESREGIONALRESOURCESADVERTISE OilNow is the premier website delivering accurate, relevant and reliable information on the Oil and Gas sector in Guyana. This Resource Center was founded and is owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree ofSURINAME | OILNOW
Suriname Energy Oil & Gas Summit 2021 virtual edition got underway on Tuesday with the South American country’s massive deepwater potential taking centre-stage in GIANT YELLOWTAIL FPSO WILL PRODUCE UP TO 7.5 MILLION The offshore developments in Guyana are growing both in number and capacity, with the fourth proposed project at Yellowtail being designed to utilize a giant floating production storage and offloading (FPSO) vessel capable of holding 2 million barrels of oil within its hull. The vessel will have YELLOWTAIL WILL BE GUYANA’S BIGGEST OFFSHORE DEVELOPMENT The Yellowtail development, Guyana’s fourth deepwater petroleum production project, is targeting 250,000 barrels of oil per day, the largest volumes yet for a single development offshore the South American country. According to documents submitted GUYANA NOW HAS A LOCAL CONTENT POLICY Guyana now has a Local Content Policy. Dr. Mark Bynoe, Director of Guyana’s Department of Energy (DE), speaking at a press conference on Monday, February 10, 2020 in Georgetown, Guyana. The much-anticipated Local Content Policy (LCP) that sets the framework within which companies in Guyana’s oil and gas sector are expectedto operate has
SAIPEM SET TO OPEN MAJOR CONSTRUCTION FACILITY IN GUYANA Italian oilfield services company Saipem will officially open its offshore construction facility this month in Guyana’s capital Georgetown, to support the growing offshore operations in the new oil producing South American country. The facility will feature a heavy load bearing jetty, the larges GUYANA’S 4TH FPSO COULD BE TARGETING PRODUCTION AT THE Guyana’s 4th FPSO could be targeting production at the Yellowtail area. The hull for the Prosperity FPSO, targeting Guyana's 3rd offshore development. The Yellowtail area offshore the South American country of Guyana contains oily fluids similar to those of the Liza discovery which US oil major ExxonMobil made back in 2015. US$10 BILLION A YEAR BY 2030 TAKES GUYANA FROM 0 TO 100 IN Rystad Energy forecasts that Guyana’s oil production could reach 1.2 million barrels per day by 2030, lifting total annual oil revenues to about $28 billion, assuming an oil price of about $65 per barrel. “Government income in the country – projected to be a modest $270 million or so in 2020 – is forecast to grow rapidly and could reach SHELL LOOKING TO STRIKE IT BIG ON ‘GOLDEN LANE OF OIL IN Six years after giving up its stake in the Stabroek Block offshore Guyana where operator ExxonMobil went on to make the first world class Liza discovery just months later, Shell is now looking to strike it big on the ‘Golden Lane of Oil’ where it is set to begin exploration activities in Surinam SAIPEM SECURES US$325 MILLION CONTRACT FOR BÚZIOS PRE-SALT Saipem secures US$325 million contract for Búzios pre-salt field in Brazil. Italian multinational oilfield services company Saipem said on Monday it has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshorethe
SURINAME LINES UP NEW SHORE BASE PORT Suriname lines up new shore base port. (Caribbean Maritime) In 2020, amid the worldwide Covid-19-induced economic downturn, Suriname reached second place, only behind Russia, in terms of discovered oil and gas reserves. And all this from just one offshore find in Block 58, and without counting a first promising recent discovery in Block52.
BREAKING: EXXON STRIKES OIL AT LONGTAIL-3 IN NEW GUYANA ExxonMobil today said it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well i AREAS BEING IDENTIFIED FOR SHORE BASE, MAJOR INVESTMENT The Irfaan Ali-led government in Guyana remains is forging ahead with its national development agenda, part of which will see Region Three (Essequibo Islands-West Demerara) being transformed into a hub for oil and gas support services for the THE SUPER-MAJORS...WHAT AND WHO ARE THEY? The Big Oil Super-majors are the six to eight companies which oil analysts utilize to talk about the world’s biggest publicly owned gas and oil corporations. They are often just called the super-majors, oil majors, or big oil. Today’s super-majors are the following: British based BP plc and Roya PRESSURES AROUND CLIMATE CHANGE, ENERGY TRANSITION Ed Crooks – Vice-Chair, Americas at Wood Mackenzie. The events of 26 May 2021 look like a defining moment for the oil and gas industry. In the space of a few hours, three decisions crystallised trends that had been building for years at the large international oil companies, showing the pressure they are under to address climate change and theenergy transition.
PAYMENT FOR 6TH OIL EXPORT PUSHES REVENUE PAST US$344 The Guyana government announced on Friday that the payment for the country’s sixth oil lift was deposited into the Natural Resources Fund Account, pushing the total revenues received so far to over US$344 million. According to a statement from the BOURBON RHESOS ARRIVES IN GUYANA FOR DEEPWATER OPERATIONS France-based marine services provider, Bourbon Offshore, has mobilized yet another vessel for operations in South America’s newest oil producing nation. “After a safe and successful voyage from Las Palmas, the AHT Bourbon Rhesos has arrived alongside at Georgetown ready to start her next long-te LIZA CRUDE HEADING TO CHINA, NETHERLANDS Most of the exports of Guyana’s Liza Crude were shipped to Asia, especially China, and the U.S. last year, data from Kpler shows. However, according to Platts, since late last year, more of the shipments went to Panama, although those volumes are believed to EXXON FARING BETTER THAN PEERS WITH ADDITION OF BIG GUYANA Norway consultancy group Rystad Energy says new discovered volumes – a measurement of a company’s exploration performance – illustrates the daunting challenge faced by oil majors to maintain their reserves base and supply existing customers. The U.S DFC TANK PRESSURE VESSEL MANUFACTURER CO., LTD At DFC tank pressure vessels manufacturer co.,Ltd, we have earned a great reputation for expertised service, on-time delivery, moderate price, responsive staffs. We have been a professional pressure vessesl manufacturer since 1984, so you can rest assured that you can take advantage of our many__
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TOUGHER LOCAL CONTENT MEASURES WILL BE IMPLEMENTED IF GUYANESE ARE BYPASSED BY OIL COMPANIES, PRESIDENT WARNS If Guyanese are bypassed by oil companies for jobs and business opportunities in the burgeoning petroleum sector, then the government would be forced to...Read more
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TOUGHER LOCAL CONTENT MEASURES WILL BE IMPLEMENTED IF GUYANESE ARE BYPASSED BY OIL COMPANIES, PRESIDENT WARNS If Guyanese are bypassed by oil companies for jobs and business opportunities in the burgeoning petroleum sector, then the government would be forced to...Read more
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COMPETITORS FOR OIL AND GAS CONTRACTS ARE SHREWD, GUYANESE COMPANIES MUST LEARN TO ADAPT – PRESIDENT ALI URGES OilNOW - April 30, 2021 0 Guyana’s Head of State, Dr. Irfaan Ali disclosed on Wednesday that local content provisions will be put in place to ensure competitive services provided...Read more
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SAIPEM OPENS OFFSHORE CONSTRUCTION FACILITY IN GUYANA Italian multinational oilfield services company Saipem on Saturday opened an offshore construction facility in Guyana after noting the need for fabrication services in the...Read more
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EXXON SAYS TEAM ON TRACK TO REINSTALL FPSO GAS COMPRESSOR THIS MONTH OilNOW - June 5, 2021 0 The newly repaired and upgraded components of the flash gas compression system for the Liza Destiny FPSO have arrived offshore Guyana and are being...Read more
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OilNOW - June 4, 2021 0 Guyana’s Vice President, Dr. Bharrat Jagdeo is of the view that the South American country has already met net-zero status in the globalefforts...
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THREE KEY IMPERATIVES NEW OIL PRODUCER GUYANA SHOULD PURSUE OilNOW - May 28, 2021 0 By Ivelaw Lloyd Griffith – OilNOW In Part I of this series, I examined Venezuela’s recent saber-rattling moves against Guyana, while Part II addressed the high stakes involved for the two countries. With this as background I turned to the actions before the World Court in Part III. In this final article, I argue that prudence makes it necessary to pursue several complementary imperatives - things that need to be actioned. I envisage three such...Read more
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EXPLORATION
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- September 20, 20200 GUYANA’S HISTORY WITH OIL DATES BACK CENTURIES The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until...Read more
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