Oil and Gas

Guyana is set to see two separate offshore seismic surveys move forward this year, as oil companies and the State advance efforts to deepen the geological understanding of the country’s offshore basin and support future exploration activity. Seismic surveys utilise sound waves to create detailed images of the rock layers beneath the seabed, enabling companies […]

As part of its tightened oversight of offshore operations, the Environmental Protection Agency (EPA) has enhanced the permit, which now requires ExxonMobil Guyana Limited to submit daily production reports and detailed updates on every well drilled. EPA’s Executive Director Kemraj Parsram, speaking during an interview on the Starting Point Podcast, explained that this new measure

ExxonMobil Guyana Limited (EMGL) and its partners are now required to secure oil spill insurance through insurance companies with local content certificates. This is according to Kemraj Parsram, Executive Director of the Environmental Protection Agency (EPA), who stated that this new provision, embedded in the permits issued to oil companies, is a major win for

Israeli exploration and production company Navitas Petroleum has signed a deal giving it an exclusive option to farm-in to Guyana’s Orinduik Block, marking the first major partnership move for Eco (Atlantic) since previous operators and partners exited the acreage. Eco said Navitas shall pay US$2 million in the deal, which allows Navitas to decide within

The new petroleum agreement for Guyana’s offshore Block S4 requires a consortium led by oil major TotalEnergies to comply with the country’s Local Content Act and contribute US$1 million annually for five years to a government training fund, supporting Guyana’s push to deepen local participation in the oil and gas sector. Article 31 of the

President Dr Irfaan Ali believes the country has experienced a glorious year, maintaining a strong performance as a magnet for foreign and local investments. The head of state said this is particularly evident when one examines the prudent management that has enabled Guyana to close the year with 930,000 barrels of oil per day. Another

As Guyana continues to accelerate oil output, thereby contributing to the global crude stockpile, recent projections by the International Energy Agency (IEA) indicate that the world is expected to experience an oversupply in the next five years. While this would force demand to grow modestly, the IEA forecasts that oil prices are likely to remain

Guyana’s decision to award the shallow water Block S4 to a consortium led by TotalEnergies is an early test of the government’s effort to tighten oversight of the sector and accelerate investment beyond the long-dominant ExxonMobil-led Stabroek Block group. For years, ExxonMobil and partners Hess and CNOOC have been the only operators to make commercial

OilNOW — Few academics in the Caribbean have shaped as many institutions as Professor Clement Sankat. The chartered mechanical engineer and veteran educator has spent more than four decades using education to fuel national development, from expanding universities in Trinidad and Belize to now leading Guyana’s flagship oil and gas training institution. During a recent

President, Dr. Irfaan Ali is giving Guyanese here and abroad first preference to invest in two of the country’s most transformative gas-based industries stemming from the imminent gas-to-energy project. These are the planned fertilizer plant and the gas-bottling and logistics company. The head of state made this announcement on Tuesday at the Berbice Development Summit.