Business

ExxonMobil said today it made an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana. Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels, the company announced. ExxonMobil said drilling at Uaru-2 encountered approximately 120 feet (36.7 meters) of high ...

Vice President Bharrat Jagdeo on Monday insisted that the proposed US$810 million to US$900 million gas-to-shore project would be viable in years to come, despite ongoing progress in scaling up renewable energy sources and reducing dependence on fossil fuels. “I don’t believe fossil fuel prices will fall. You still have a large number of years when fossil fuel prices will ...

The Attorney General Anil Nandlall welcomed the High Court’s decision to throw out a pro-opposition election petition but Opposition Leader Joseph Harmon castigated the court, suggesting that the ruling was politically motivated to favour the People’s Progressive Party (PPP). “This is a clear attempt to protect the installed PPP regime from scrutiny and from being removed from government where they ...

The owner of a supermarket at Diamond, East Bank Demerara was Saturday morning robbed by two bandits one of whom was armed with a handgun, police said. The victim, Lianggeng Wu, told police that he was robbed of GYD$300,000 cash when the robbers forced him at gunpoint to reenter his supermarket named Tan Yuan Meng and located at Lot 593 ...

The ailing state-owned Guyana Sugar Corporation (GUYSUCO) Friday night announced that workers would get  a one-off payment calculated at five percent of six months salaries two years ago, following talks with a government delegation led by Vice President Bharrat Jagdeo. The union explained that the pay-out would be calculated on the workers’ earnings in 2019.  However, Vice President Bharrat Jagdeo’s ...

Despite a rigid screening and isolation system, 14 workers aboard the ExxonMobil-contracted drillship, Noble Tom Madden, have contracted the potentially deadly coronavirus. ExxonMobil says 11 remain in isolation aboard the vessel and three have been transferred to appropriate isolation facilities onshore under the care and custody of their employer. “These individuals have been appropriately isolated to limit the spread of ...

Six women from Mocha-Arcadia, East Bank Demerara have received interest-free assistance totalling GYD$1.7 million, marking the launch of a revolving fund for female micro-enterprise owners. Government’s Department of Public Information says each recipient is expected to repay 60% of the value of their items, with their first instalment due two months from today. Overall, they have a maximum of 18 ...

ExxonMobil Guyana on Thursday said  Guyana would not have to pay costs related to faulty equipment aboard the Floating Production Storage and Offloading (FPSO) vessel, Liza Destiny. “We are working with the people of Guyana to make sure we get things fixed as quickly as possible and the cost stays with the companies that are responsible for the equipment,” President ...

Reproduced from https://www.oedigital.com/  CGX Resources, an oil and gas company with offshore blocks in Guyana, has awarded Maersk Drilling a one-well rig contract. The Danish offshore drilling contractor said Thursday that CGX would use its semi-submersible drilling rig Maersk Discoverer to for exploration drilling in the Corentyne Block offshore Guyana. The drilling contract has an estimated duration of 75-85 days ...

ExxonMobil Guyana on Wednesday said production was being gradually increased to a maximum of 110,000 barrels per day, although the discharge silencer has not yet been fixed, the company said. The company, whose local partners in Esso Exploration and Production Guyana Limited (EEPGL) are Hess Corporation and China National Overseas Oil Company (CNOOC), said production was being gradually increased from ...