OIL & GAS

OIL & GAS

MODEC reports major boost as Guyana’s Hammerhead project drives 2025 growth

November 20, 2025 Staff Reporter

Japan-based FPSO builder MODEC Inc. is crediting much of its strong 2025 performance to work it secured in Guyana, particularly the new contract with ExxonMobil Guyana for the Hammerhead development in the Stabroek Block. For the first nine months of 2025, MODEC said it received US$8.4 billion in orders, a massive 1,327% jump compared to […]

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OIL & GAS

Longtail gas project positioned to pun 30 years, powering Guyana’s industrial future

November 19, 2025 Staff Reporter

ExxonMobil’s planned Longtail development is being built as a long-term operation, expected to run for roughly three decades, and is set to deliver one billion cubic feet of gas per day along with 250,000 barrels of condensate. The scale and lifespan of the project place it among the company’s most significant ventures in the Stabroek […]

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OIL & GAS

ExxonMobil to drill three new wells in 2025 near Guyana’s high-yield ‘Golden Lane’ oil zone

November 13, 2025 Staff Reporter

ExxonMobil is gearing up to drill three new exploration and appraisal wells in 2025- Hamlet-1, Barreleye-2, and Lukanani-2- all strategically located updip of the highly productive Golden Lane trend in the Stabroek Block. According to a November 11 report by global energy magazine GeoExPRO, the wells are positioned in a prime geological zone that has […]

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OIL & GAS

President Ali outlines vision for Guyana to become a global petrochemical hub

November 13, 2025 Staff Reporter

President Dr Irfaan Ali has laid out an ambitious plan for Guyana to expand its oil and gas sector beyond crude production and transform into a major global petrochemical hub. Speaking at the Berbice Development Summit on Tuesday at the Georgetown Marriott, the Head of State said Guyana has the potential to extract maximum value […]

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OIL & GAS

Government of Guyana Welcomes QatarEnergy to Block S4

November 12, 2025 Staff Reporter

The Government of Guyana, through the Ministry of Natural Resources, has signed a Production Sharing Agreement (PSA) for shallow-water Block S4 offshore Guyana with a consortium of QatarEnergy (35%), TotalEnergies (40%, operator), and PETRONAS (25%). This award, part of the country’s first 2022 Licensing Round, marks another milestone in responsibly developing Guyana’s hydrocarbon resources. The […]

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OIL & GAS

ExxonMobil’s Uaru and Whiptail Projects on track to push Guyana’s oil output past one million barrels daily

October 23, 2025 Staff Reporter

ExxonMobil Guyana’s oil output is set for another major boost, with President Alistair Routledge confirming that the company’s fifth and sixth offshore developments — Uaru and Whiptail — are progressing smoothly and remain on track for startup in 2026 and 2027, respectively. Routledge gave the update during a press briefing on October 13 at ExxonMobil’s […]

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OIL & GAS

IEA warns of oil surplus in 2026 -Guyana among countries adding to rising supply

October 15, 2025 Staff Reporter

The International Energy Agency (IEA) has warned that the world could see an even bigger oil surplus next year, as much as 4 million barrels per day (bpd), as major producers, including OPEC+ countries and new oil nations like Guyana, continue to ramp up production while global demand remains slow. The IEA, which advises industrialised […]

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OIL & GAS

Guyana FPSO Contract Awarded to Chinese Contractor

October 14, 2025 Staff Reporter

Bomesc (Beijing Oriental Marine Exploration & Construction) has secured contracts worth up to US$240 million to supply topsides modules for a future FPSO (Floating Production, Storage and Offloading) unit. The contracts involve Bomesc working under Modec subsidiaries in conjunction with ABB (Asea Brown Boveri) and VWS (Vestas Wind Systems). Bomesc’s participation will focus on delivering […]

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OIL & GAS

“It would appear that OGGN perhaps misled the senators” -Routledge on Exxon’s tax credit allegations

October 14, 2025 Staff Reporter

President of ExxonMobil Guyana Limited (EMGL), Alistair Routledge, has suggested that U.S. Senators may have been misled by the Oil and Gas Governance Network (OGGN) regarding claims that American taxpayers are subsidising ExxonMobil’s operations in Guyana. Routledge made the statement during a media conference at the company’s new Ogle, East Coast Demerara headquarters, while addressing […]

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OIL & GAS

Oil Giant ExxonMobil Denies Fraudulent Tax Involvement

October 14, 2025 Staff Reporter

ExxonMobil Guyana has publicly rebutted assertions that it has benefited from U.S. foreign tax credits tied to its operations in Guyana, with the company’s local president accusing U.S. senators of being misled by outside groups. The controversy emerged after three U.S. lawmakers—Senators Sheldon Whitehouse, Jeff Merkley and Chris Van Hollen—sent a letter to ExxonMobil’s global […]

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