Guyana News

14 Jun 2019

US Leads World Oil Reserves

Graph: Rystad Energy

The United States has a world-leading 293 billion barrels of recoverable oil resources, which is 20Bbbl more than Saudi Arabia and 100Bbbl more than Russia, with the Permian Basin leading that charge.Rystad Energy’s estimate of US recoverable oil is also five times more than officially reported proven reserves as published in the BP Statistical Review of World Energy 2019.Tight oil plays in the Permian Basin in Texas and New Mexico now hold 100 billion barrels of recoverable oil resources, according to Rystad Energy’s analysis.

13 May 2019

SBM Wins ExxonMobil Guyana FPSO Order

Image: SBM Offshore

Dutch-based floating production and mooring systems (FPSO) provider SBM Offshore has  won a contract to deliver an FPSO for ExxonMobil’s second phase of the Liza development offshore Guyana.Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Liza project in Guyana, said a press release from the company.Under these contracts, SBM Offshore will construct, install and thereafter lease and operate for up to two years the Liza Unity FPSO.

04 Apr 2019

Harvey Gulf Branches Out Internationally

Photo: Harvey Gulf Marine

Since committing to go global in September 2018, US based Harvey Gulf said on Thursday it has been awarded contracts in Mexico, Trinidad, Guyana and Suriname.The company noted it also has bids for work in Mozambique, Angola, Senegal, Israel, Ghana and Nigeria.Harvey Gulf, which completed a financial restructuring and emerged from Chapter 11 Bankruptcy proceedings in 2018, said it will continue to look for merger opportunities as they present themselves.

25 Mar 2019

Harvey Gulf Continues Global Push

Photo courtesy of Harvey Gulf

Harvey Gulf International Marine continues its commitment to expanding operations globally with the opening of offices in Ciudad del Carmen, Mexico City, Trinidad, and Guyana, and with the reflagging of two additional DP2 Offshore Supply Vessels the Harvey Seahawk and Harvey Falcon by this April.These vessels will join the OSV’s Harvey Leader and Harvey Legend along with the FSV Harvey Clipper to operate and service our customers in Mexico.Harvey Gulf has certified these vessels for operations to ensure customers can receive Harvey service levels for their expanding global operations.

21 Mar 2019

Guyana Build-up Oil Spill Response Capacity

Pic:  International Maritime Organization (IMO)

Guyana is the latest country to benefit from International Maritime Organization (IMO)’s continuing work to strengthen oil spill response capacity in the Wider Caribbean Region.According to the UN body, Guyanese officials from 28 different government agencies, environmental stakeholders, and local industry representatives took part in the Regional Marine Pollution Emergency, Information and Training Centre for the Caribbean (REMPEITC)-Caribe training workshop (18-20 March) funded…

13 Mar 2019

Training on Oil Spill Response in Caribbean

Pic: International Maritime Organization

International Maritime Organization (IMO) has conducted a Level 2 Training Course on OPRC (Convention on Oil Pollution Preparedness, Response and Co-operation) in St Kitts and Nevis  for oil spill response managers in the wider Caribbean region.Participants from 15 countries attended the IMO-funded event, which is focused on tactical aspects of spill preparedness and response, and applying incident management systems to assist effective coordination of spill response.The countries were Anguilla…

11 Mar 2019

US to Lead Oil Supply Growth to 2024

Dr Fatih Birol (center) and IEA Oil Analyst Toril Bosoni (right) present the findings from Oil 2019 in Houston at CERA Week on 11 March 2019 (Photograph: Getty Images)

The United States is set to drive the global oil supply growth over the next 5 years, thanks to the strength of its shale industry, triggering a rapid transformation of world oil markets, according to the International Energy Agency (IEA).IEA said that oil exports from the United States will overtake Russia and close in on Saudi Arabia, bringing greater diversity of supply, by the end of the forecast.While global oil demand growth is set to ease, in particular as China slows down, it still increases an annual average of 1.2 mb/d to 2024, according to the report, Oil 2019.

01 Mar 2019

Caribbean Commits to IMO Standards

Pic: International Maritime Organization (IMO)

Caribbean States and Territories have re-affirmed their commitment to implementing International Maritime Organization (IMO) standards for safe, secure and sustainable shipping.According to the UN body, this is part of wider efforts to intensify investments and harness the full potential of the oceans, rivers and lakes to accelerate economic growth, create jobs and fight poverty.Ministers responsible for maritime transport and other participants representing the Governments in the region met at a High Level Symposium (27 February) in Montego Bay…

22 Feb 2019

Australia Leads FPSO Deployment in AsiaPac

FPSO. Pic: Modec

A total of 67 floating production, storage and offloading (FPSOs) vessels are expected to start operations globally by 2025, with Australia leading the Asia-Pacific region.Globally, 67 planned and announced FPSOs are expected to start operations between 2019 and 2025, revealed the report 'Q1 2019 Global FPSO Industry' by GlobalData.Of these, 26 are planned and 41 are announced and of these Australia will account for all FPSOs planned for deployment in Oceania during 2019-2025.In Oceania…

20 Feb 2019

Guyana Ratifies IMO Treaty

Pic: International Maritime Organization (IMO)

Guyana has signed up to a host of International Maritime Organization (IMO) treaties supporting safe, secure and clean international shipping.According to the UN body, the treaties cover a wide variety of topics including marine pollution, dumping waste at sea and responding to pollution incidents involving hazardous and noxious substances.Guyana ratified two key IMO measures designed to preserve bio-diversity – the Ballast Water Management Convention and another on use of harmful…

19 Feb 2019

2021 to See 33 More FPSOs

Graph: Rystad Energy

A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021 as oil and gas activity picks up in the offshore sector.Norwegian oil and gas intelligence firm Rystad Energy reports that 15 of the FPSOs will require production capacity of more than 80,000 barrels per day.Rystad said that the high capacity demand would come mainly from the developments in Guyana and Brazil where operators such as ExxonMobil, Equinor, and Petrobras…

23 Jan 2019

Offshore Upswing: CNOOC Spend Highest Since 2014

© xmentoys/AdobeStock

China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.The company plans to spend 70 billion to 80 billion yuan ($10.3 billion to $11.8 billion) on exploration and production, CNOOC said in a press release on Wednesday, compared with an expected 63 billion yuan in capital spending for 2018.Beijing has called…

24 Dec 2018

Venezuela Navy Confronts Exxon Vessel in Guyana Border Dispute

File Image: CREDIT: AdobeStock / © DonvictoriO

Venezuela's navy "intercepted" a ship exploring for oil on behalf of Exxon Mobil Corp in Guyanese waters over the weekend, Guyana's foreign ministry said in a statement, while neighboring Venezuela said the incident occurred within its territory.The latest incident in a century-old border dispute comes after a series of offshore oil discoveries have given Guyana the potential to become one of Latin America's largest producers. In OPEC member Venezuela, by contrast, crude output has tumbled to the lowest levels in nearly 70 years amid an economic crisis.The Ramform Tethys vessel…

26 Dec 2018

Exxon Mobil: Drilling Continues Offshore Guyana

Exxon Mobil Corp said on Wednesday its oil drilling and development activities offshore Guyana were unaffected despite neighboring Venezuela's navy stopping two seismic survey vessels the company had hired.The closest of 10 oil finds Exxon has made off Guyana's coast is 110 kilometers (68 miles) away from the northwest part of the Stabroek block, where the navy halted seismic data collection on Saturday, the company said. Each country's government says the incident took place in its territorial waters."Exploration and development drilling is continuing in the southeast area of the Stabroek Block," the company said in a statement. Exxon did not say whether the two vessels…

07 Jan 2019

PGS Updates on Seismic Acquisition Contract in South America

Ramform Atlas. Image: PGS

Norwegian seismic player Petroleum Geo-Services ASA (PGS) updated on changes of the contract for the 3D survey in South America announced November 14, 2018.The vessels Ramform Atlas and Ramform Tethys mobilized early December 2018 for this survey. The contract had an estimated total duration of approximately 13 vessel months and an estimated value in excess of $75 million, the marine geophysical company said.Due to unresolved issues affecting the survey, both vessels have been on paid standby from December 23…

21 Nov 2018

SBM Orders Second Fast4Ward FPSO Hull

The contract signing ceremony took place at SWS shipyard on November 21, 2018, with representatives from SBM Offshore, including Bruno Chabas (CEO), Bernard van Leggelo (China Managing Director) and Srdjan Cenic (General Manager China), as well as Lei Fanpei, Chairman of board of CSSC and Wang Qi, Chairman of board of SWS. (Photo: SBM Offshore)

SBM Offshore signed a contract Wednesday for a second hull in its planned series of Fast4Ward floating production, storage and offloading units (FPSO) with Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS).The order, which coincides with a keel laying ceremony for SBM's first Fast4Ward hull at the Shanghai shipyard, has been made before any engineering, procurement and construction (EPC) contract for the second hull. The Dutch company cited "continuing…

23 Nov 2018

UKHO Shares Marine Geospatial Data with Guyana

National Hydrographer of the UK Hydrographic Office, Rear Admiral Tim Lowe and Director General of the Maritime Administration Department, Claudette Rogers during the signing of the agreement. Photo: DPI Guyana

The UK Hydrographic Office (UKHO) has officially handed over marine geospatial data to the Guyanese Government after a campaign of hydrographic surveying.Delegates from the UKHO presented the data to government officials at a special event to celebrate the completion of the survey. Two workshops were held to brief ministers and provide technical support for applications of the data, which will help Guyana support the development of its marine economy.The data, which was collected over a period of four months between 2016 and 2017…

25 Sep 2018

Guyana Puts Oil Auctions on Hold

(File photo: Hexx Corp)

Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Monday.Since 1999, Guyana has awarded a group led by Exxon Mobil Corp hundreds of oil blocks along Guyana's maritime borders with Venezuela and Suriname. Their finds are turning Guyana, a country with no history of oil production and relaxed energy regulation, into one of Latin America's hottest prospects for oil investments.Exxon…

11 Jan 2019

Exxon Ships Have Not Returned to Disputed Area off Guyana

© Zerophoto / Adobe Stock

Seismic research vessels hired by Exxon Mobil to explore for oil off Guyana's coast have not returned to the site of a December incident with Venezuela's navy, but they may in the future, Guyana's foreign minister said on Thursday.Guyana, with no history of oil production, has become the focus of intense interest since Exxon announced the discovery of over 5 billion barrels of oil and gas off its shores. That has reignited a century-old territorial dispute with neighboring Venezuela.

14 Jan 2019

Seacor Marine Acquires Three Fast Support Vessels

Pic: Seacor Marine

U.S. offshore vessel owner Seacor Marine  has acquired of three fast support vessels (FSVs) in exchange for the private placement of 603,872 shares of its common stock to domestic U.S. holders affiliated with the McCall family of Louisiana.The provider of global marine and support transportation services to offshore oil and natural gas and windfarm facilities worldwide has operated the acquired vessels for the past ten years under a revenue sharing pooling agreement along with four of its owned FSVs of similar specification.As part of the transaction, this pooling agreement was terminated.

22 Nov 2018

IMO to Empower Port Women

Image: International Maritime Organization (IMO)

International Maritime Organization (IMO) is supporting a training course aimed at female officials from maritime and port authorities entitled to encourage more women to join the maritime ranks in many aspect of the industry.Twenty-seven women from 18 developing countries are taking part in the two-week "Women in Port Management" course, hosted in Le Havre, France (12 – 23 November). The countries are Antigua & Barbuda, Bangladesh, Belize, Brazil, Cambodia, Dominica, Guyana, Jamaica…

12 Oct 2018

De Boer Names Two New Tugs

(Photo: Damen)

A naming ceremony was held for two custom tugs built by Damen Shipyards Hardinxveld for De Boer Remorquage SARL, a joint venture between Dutch Dredging and Iskes Towage and Salvage. The ceremony took place in the port of Cayenne in French Guyana.According to the shipbuilder, both vessels represent innovative solutions and one of them has additional modifications that enable it to undertake dredging and other associated activities.Present at the event where representatives from a number of French government agencies and the port authorities…

24 Dec 2018

Venezuela Navy intercepts ExxonMobil Oil Explore Ship

The Venezuela's navy on Saturday "intercepted" a ship exploring for oil on behalf of Exxon Mobil Corp. in Guyanese waters, neighboring Guyana's foreign ministry said in a statement, in the latest incident in a century-old border dispute.A series of offshore oil discoveries in recent years have given Guyana the potential to become one of Latin America's largest producers. In OPEC member Venezuela, by contrast, crude output has tumbled to its lowest levels in nearly 70 years amid an economic crisis.The Ramform Tethys vessel, which belongs to Norwegian company Petroleum Geo-Services (PGS) and was conducting seismic survey work on behalf of Exxon…

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