Guyana Oil and Gas News

All the latest news and commentary on the new Guyana Oil and Gas sector include exploration, drilling, policy, impact and more.

Minister of Natural Resources Vickram Bharrat (second from right) hands over to President of ExxonMobil Guyana, Alistair Routledge, the signed petroleum production licence for Guyana’s fifth offshore development, Uaru. They are joined by Production Manager of CNOOC Guyana  Xu Xiangdong (left) and Hess Corporation's Vice President of Exploration, Appraisal, and Developments for Guyana and Suriname, Tim Chisholm.  (MNR photo)
Minister of Natural Resources Vickram Bharrat (second from right) hands over to President of ExxonMobil Guyana, Alistair Routledge, the signed petroleum production licence for Guyana’s fifth offshore development, Uaru. They are joined by Production Manager of CNOOC Guyana Xu Xiangdong (left) and Hess Corporation’s Vice President of Exploration, Appraisal, and Developments for Guyana and Suriname, Tim Chisholm. (MNR photo)

Production licence approved for fifth oil platform

The Ministry of Natural Resources (MNR) yesterday announced the approval of the Uaru Field Development Plan (FDP) and the issuance of the Uaru Petroleum Production Licence to ExxonMobil’s subsidiary here, EEPGL. 

Tethys Marine & Logistics CEO Jaikerran Persaud (left) and Chief Executive Officer  Rodolphe Bouchet
Tethys Marine & Logistics CEO Jaikerran Persaud (left) and Chief Executive Officer Rodolphe Bouchet

French oil & gas company in joint venture with Guyanese

French oil and gas company, Bourbon Marine & Logistics, on Monday announced that it had entered in a joint venture with the Guyanese company, Tethys Marine & Logistics, to form Bourbon Guyana, and that 75 per cent of its directors would be locals.

The Deepwater Champion

Oil audit says EEPGL overpaid for drill ship

The IHS Markit audit of oil expenditure by ExxonMobil’s subsidiary, Esso Exploration & Production Guyana Limited (EEPGL) has revealed that not only did it procure the services for the Transocean-owned Deepwater Champion drill ship way above costs for similar vessels available but that the company had submitted US$500,000 for seismic works prior to 2008 and had no supporting documents for it.

Looking backwards and going forward, retrospect and prospect

Introduction Last week’s column wrapped-up my effort to overcome the failure after seven consecutive years of weekly assessment of Guyana’s emerging oil and gas sector to devote even a single column each to Hess Corporation or CNOOC Nexen Petroleum Limited, which share a working interest of 30 percent and 25 percent respectively in the Exxon Mobil-led Consortium operating under the Stabroek Block’s PSA, the only crude oil producing exporting entity to date.

BP deposited US$82.25m in NRF in January

For the first payment for its oil share for 2023 from the agreement with ExxonMobil and partners in the Stabroek Block, Guyana received US$82.25M which will be added to the already US$1.3B in the Natural Resource Fund,  held in a New York Federal Reserve Bank account.

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