Guyana Archives - Panorama Insurance Brokers

Guyana oil exports could average US$72 million per lift for remainder of year

In its July Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in the June STEO forecast. This would see exports from Guyana, averaging around 1 million barrels of… Read More

Guyana FPSOs ramping up traffic at Asian shipyard

Guyana’s appetite for Floating Production Storage and Offloading (FPSO) units to produce its massive oil reserves is growing as more developments come on stream at the ExxonMobil-operated Stabroek block. This demand for FPSOs was most evident recently with two Guyana floaters being berthed alongside each other at the Keppel Shipyard in Singapore. The Prosperity FPSO… Read More

Guyana, Brazil and Mexico best positioned to attract investors willing to take risk

The deepwater plays in Guyana, Brazil and Mexico will provide significant opportunities for these countries to help meet the oil and gas demand in coming years as supply shortfalls due to energy transition trends take hold. “Demand for oil will drop gradually as the world moves forward with energy transition, but some demand will remain,… Read More

Maersk Discoverer en route to Guyana for 85-day drill campaign at Corentyne block

The Maersk Discoverer, a sixth-generation semi-submersible drilling rig, is en route to Guyana from neighbouring Trinidad and Tobago and is expected to arrive at the Kawa-1 well site on the Corentyne block by August 15. CGX Energy Inc., operator of the block, and joint venture partner Frontera Energy Corporation, confirmed on Wednesday that they intend… Read More

Massive Prosperity FPSO hull arrives at Singapore yard

Dutch floater specialist SBM Offshore said on Thursday the hull for the Prosperity Floating Production Storage and Offloading (FPSO) vessel has arrived safely at the Keppel yard in Singapore. The next phase of construction will now commence, with the topside modules being integrated at the yard. The Prosperity is Guyana’s 3rd FPSO and will follow… Read More

Guyanese company offering ‘new age logistics with old world knowledge’

Symmetry Brokerage and Logistics Service Incorporated (SBLS) is a fully owned and operated Guyanese company. Led by Chief Executive Officer, Lloyd Bart, it is raising the bar and setting the standard for Guyanese brokerage and logistics companies, particularly those operating in the oil and gas sector. Bart explains that he and his wife—Kerensa Gravesande-Bart—founded the… Read More

Guyana amends Petroleum Law to protect use of private lands in multimillion dollar projects

Members of Guyana’s National Assembly on Monday debated and passed the Petroleum (Production and Exploration) Amendment Bill-2021 which will now ensure proper oversight by the government during the acquisition of private lands by a licensee for major oil projects. Significantly, it ensures that there is proper compensation for citizens when such lands are acquired. The… Read More

Guyana receives US$79.6M for seventh oil lift

The Government of Guyana through the Ministry of Natural Resources on Monday announced that the country received close to US$80M for the nation’s seventh oil lift. The proceeds have been deposited in the Natural Resources Fund account. Expounding on this front, the government said on July 3, 2021, 1,047,820 barrels of oil were lifted from… Read More

Guyana oil exploration takes place at depths of over 30 Kaieteur Falls

Oil and gas exploration activities offshore Guyana take place at significant depths with the Tanager-1 well spudded on the Kaieteur block being the deepest well ever to be drilled so far by ExxonMobil off the South American country’s coast. Tanager reached a total depth of 7,633 metres or 25,042 feet in November 2020. The well failed… Read More