Oilfield services giant TechnipFMC expects more than 350 subsea tree orders to be made globally in 2022, a level which it says has not been seen in years. The oilfield equipment and services firm saw its full-year 2021 inbound orders in the subsea segment hit the $5 billion figure, a 24 percent increase compared to... Continue Reading →
Guyana Talking to Middle East Firms about Offshore Oil Auction
(OE) Guyana is in talks with state-run oil firms from the Middle East to discover new offshore fields, Vice President Bharrat Jagdeo told Reuters, hoping to recruit a new and substantial explorer to its nascent energy industry. Results of the talks with Middle East firms could lead Guyana to bar a consortium led by U.S.... Continue Reading →
Noble counts on meaningful growth ahead as rigs secure more work – Long read
Offshore drilling contractor Noble Corporation has secured more work for its drilling rigs, including a conditional award for four of its drillships working for ExxonMobil in Guyana. Looking ahead, the rig owner expects significant sequential growth in the upcoming two quarters with a continued upward trajectory in activity levels and day rates. Noble Corp. on... Continue Reading →
Guyana partners reveal spending plan for second exploration well
Partners Frontera Energy and CGX Energy plan to spend up to $130 million on their second exploration well on the Corentyne block offshore Guyana following positive results from the first well, Kawa-1. Frontera Energy is the majority shareholder of CGX and joint venture partner of CGX in the Petroleum Prospecting License for the Corentyne block.... Continue Reading →
Factbox: Offshore discoveries turn tiny Guyana into oil hotspot
(Reuters) - A string of offshore oil discoveries has turned Guyana, a tiny South American country with fewer than 800,000 people, into one of the hottest exploration and production frontiers in decades. Since 2015, oil companies operating off its coast have found more than 10 billion barrels of recoverable oil and gas, a tenth of... Continue Reading →
Guyana Pledges to Balance Oil Investment with Residents’ Economic Welfare
(Reuters) Guyana's President Irfaan Ali on Tuesday defended his country's right to develop its oil industry for its residents while insisting local goods and services requirements are not meant to block foreign investments. A string of discoveries off its coast is on the verge of turning the tiny South American country into an oil powerhouse.... Continue Reading →
Guyana’s First Oil and Gas Training Center Set to Launch
3t EnerMech and Orinduik Development Incorporated Training Centre have partnered to provide a training center for the local workforce in Guyana, supporting the country's fast-growing offshore oil and gas sector, eliminating the need for local workers to travel abroad for accredited training. This venture said it would provide "an industry-leading" and internationally accredited facility in... Continue Reading →
Guyana May Choose to Develop Future Oil Prospects on Its Own
(OE) Guyana could form a national oil and gas company to oversee its own exploration instead of conducting an offshore drilling auction this year, a government official told international oil executives on Tuesday. The tiny South American country has become one of the hottest oil exploration frontiers in decades, with massive discoveries of oil and... Continue Reading →
Baker Hughes Expands in Guyana
Energy technology company Baker Hughes announced it has opened a new "supercenter" facility for oilfield services and equipment in Guyana. The facility, which spans more than 8 acres, will support regional customers and bolster Baker Hughes’ localization efforts within South America. Referencing its work in Guyana, Baker Hughes said it currently provides drilling services, drill... Continue Reading →
Guyana: CGX, Frontera Go All-in on Corentyne Block. Won’t Drill at Demerara in 2022
(OE) CGX Energy and Frontera said Monday they'd focus on their Corentyne block in Guyana in 2022 fully, and not engage in drilling activities on the Demerara block at all. The partners said their decision was based on the positive results from the Kawa-1 offshore well, and the significant exploration opportunities in the Corentyne block.... Continue Reading →
Brazil Energy Insight 