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Suriname is experiencing renewed optimism for its oil industry with the approval of the GranMorgu project and significant investment from international energy companies. The country hopes to leverage its offshore oil discoveries to address economic challenges and reduce poverty, drawing inspiration from neighboring Guyana's successful oil boom. Several offshore blocks, including Block 58 and Block... Continue Reading →
(oilnow.gy) ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement, according to the Ministry of Natural Resources. The Stabroek Block, spanning 26,800 square kilometers, is the centerpiece of Guyana’s deepwater oil boom. Exxon and its partners Hess and CNOOC have made over 30 discoveries on... Continue Reading →
(Reuters) Oil giant Shell will pull out of three offshore gas projects in Colombia's Caribbean, it owns together with Colombia's state-run oil company Ecopetrol, the groups said on Thursday. Shell had acquired a 50% operating stake in Col 5, Purple Angel and Fuerte Sur deepwater blocs in 2020. "They no longer fit our strategic ambitions.... Continue Reading →
(OE) MODEC has been awarded a contract by ExxonMobil Guyana to develop an FPSO for the Hammerhead project. The Hammerhead FPSO will have the capacity to produce 150,000 barrels of oil per day (BOPD), along with associated gas and water. It will be moored at a water depth of approximately 1,025 meters using a SOFEC... Continue Reading →
(Reuters) - A consortium led by U.S. oil major Exxon Mobil is about to begin installing its fourth floating oil production facility in Guyana, the South American country's maritime regulator said in a notice on Tuesday. The floating production storage and offloading (FPSO) facility 'One Guyana,' built by SBM Offshore with a 250,000 barrel-per-day capacity, departed Singapore... Continue Reading →
MODEC, Inc. [“MODEC”; TSE: 6269], a publicly listed company on the Tokyo Stock Exchange, and a leading floating solutions provider in the global floating production, storage and offloading (FPSO) industry, has officially opened its new execution center in Kuala Lumpur. This affirms MODEC’s commitment to Malaysia as a strategic hub for regional business operations, innovation,... Continue Reading →
(OE) Shell, through its subsidiaries, has awarded a contract to Stena Drilling for the Mobile Offshore Drilling Unit (MODU) Stena DrillMAX, which will be put to work offshore Suriname. KE STP Company and BG International Limited Suriname Branch, subsidiaries of Shell, have selected Stena DrillMAX for a drilling campaign, expected to start in the second... Continue Reading →
(Reuters) - It would be "a very bad day" for Venezuela if it were to attack its neighbor Guyana or U.S.-based energy giant ExxonMobil (XOM.N), opens new tab, U.S. Secretary of State Marco Rubio said on Thursday during a visit to Guyana's capital. Guyana and Venezuela are locked in a long-running dispute about which country has rights over... Continue Reading →
TechnipFMC has been awarded a major integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract worth over $1 billion by Shell for its Gato do Mato greenfield development offshore Brazil. In addition to integrated execution, the project will utilize Subsea 2.0® configure-to-order (CTO) subsea production systems. Combining both offerings will enable streamlined project management through a single interface and accelerate time to first... Continue Reading →
Kaieteur News- The state-owned oil company of Suriname, Staatsolie on Monday announced that the company has raised US$515.8 million through a new bond that allowed citizens there to invest in the country’s first offshore oil project, GranMorgu. Staatsolie in thanking participants highlighted that the amount raised was US$ 211.7 million more than the US$ 304.1 million that was... Continue Reading →
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