Introduction
Today’s column starts the wrap-up of my on-going evaluation of several remaining concerns still of great importance to Guyana’s emergent oil and gas sector, in the closing days of the “2020 general crisis,” as I have earlier defined this phenomenon. To recap, those concerns centre on: 1) the volume of the country’s hydrocarbon reserves potential; 2) its potential commercial competitiveness; 3) the expected cost-price relation for crude oil produced; and, 4) the estimated share of Government Take from the sector.
While several gaps remain to be filled in this evaluation, I am only able in today’s column to treat with two of these; namely, 1) the movement from petroleum resource discovery to full ramp-up of production; and, 2) a brief report on the recent announcement by one of the industry’s leading energy intelligence consulting firms, Wood Mackenzie, of its updated estimate of Guyana Government Take ratio.