Brought to you by Quest Offshore & Southern Cone Consultants
Feb. 11 (oilnow.gy) MODEC has completed the first steel cutting for the Hammerhead floating production, storage and offloading (FPSO) vessel more than a month ahead of schedule. MODEC made the announcement today via LinkedIn. The steel cut ceremony marked the start of fabrication at BOMESC Offshore Engineering Company Limited in Tianjin, China. The FPSO is being... Continue Reading →
Feb 9 (Reuters) - Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say. For years, oil majors have been restrained in topping up reserves,... Continue Reading →
Feb. 4 - SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO ONE GUYANA, ahead of the maximum lease term which would have expired in August 2027. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to... Continue Reading →
Feb. 3 (oilnow.gy) Data collected from new 3D marine seismic surveys across deepwater offshore blocks left unawarded or unresolved in Guyana’s first oil and gas auction will soon play a key role in establishing the country’s first Petroleum Data Repository. The Guyana government first signalled plans to operate a petroleum data repository in 2023, citing concerns that... Continue Reading →
Feb. 2 (oilnow.gy) Guyana has allocated GY$10.7 billion in its 2026 budget to advance three clean energy initiatives: the Gas-to-Energy project, further gas-based power development, and the resuscitation of the Amaila Falls Hydropower Project. The allocation was outlined by Minister of Finance, Dr. Ashni Singh, during the presentation of Budget 2026 this week. Dr. Singh said the... Continue Reading →
Jan. 30 (oilnow.gy) ExxonMobil Guyana Limited continued exploration drilling at the Barreleye-3 well site on January 27, 2026, as it advances appraisal work in Guyana’s Stabroek Block. The operation is being carried out by the mobile offshore drilling unit Noble Don Taylor. Drilling is scheduled to conclude on February 8, 2026. The Barreleye-3 site lies... Continue Reading →
Jan 30 (Reuters) - Chevron's fourth-quarter profits fell but came in ahead of estimates as it focused on cutting costs and making its operations more efficient to contend with lower crude prices throughout 2025. The only U.S. oil producer currently operating in Venezuela and now in the geopolitical spotlight after the U.S. capture and removal of former Venezuelan leader Nicolas... Continue Reading →
Jan 30 (Reuters) - Exxon Mobil beat Wall Street targets in fourth-quarter earnings reported on Friday, with higher oil production in profitable Permian Basin and Guyana assets helping to boost the No. 1 U.S. oil producer's results. Adjusted earnings for the October to December quarter were $1.71 per share, beating a consensus estimate of $1.68 per... Continue Reading →
Jan. 29 (Reuters) French Finance Minister Roland Lescure called a draft law proposing to allow offshore oil and gas exploration in its overseas territories "anachronistic" during a debate in the country's Senate on Thursday. In a world first, France banned new oil and gas exploration and production licenses in 2017, hoping other nations would follow suit. But energy security... Continue Reading →
Jan. 29 (oilnow.gy) Drilling activity offshore Guyana has been extended through 2029 after ExxonMobil awarded Noble Corporation plc additional rig years under its Commercial Enabling Agreement. The award applies evenly across four drillships operating in Guyana — Noble Sam Croft, Noble Don Taylor, Noble Tom Madden and Noble Bob Douglas — and is part of a broader... Continue Reading →
Brazil Energy Insight 