Guyana Oil and Gas News

In an effort to have a pool of local auditors to assist in auditing post-contract costs and the continuous auditing of oil & gas expenses, government has met with the Institute of Chartered Accountants to work out a mechanism to acquire the requisite skillsets needed.

Introduction As I had noted in last week’s column, there are two major analytical observations that flow from my discussions of the United Nations’ Sustainable Development Goals, SDGs.

ExxonMobil Guyana President Alistair Routledge on Thursday said the company’s current cache of offshore projects and those in the pipeline represent approximately US$30 billion in direct foreign investment in the country and that it will generate billions more.

Environmental Resources Management (ERM), the company contracted by ExxonMobil to conduct the Environmental Impact Assessment (EIA) for the Yellowtail well development, has since apologised for “mistakenly” releasing the findings of the EIA with the signature of consultant Shyam Nokta.

One year after a joint venture between Trinidad Offshore Fabricators Unlimited (TOFCO) and Guyana Oil and Gas Support Services (GOGSSI), the company has landed a big project with ExxonMobil’s prime contractor Saipem and is looking to hire key staff.

The safety of Guyana’s proposed gas-to-shore pipeline is being questioned based on available plans and critics have also taken aim at the lack of information from the government.

Citing oil and gas developments, Republic Bank (Guyana) Limited says it remains optimistic about Guyana’s growth prospects.

Introduction Today’s column considers the Buxton Proposal as it relates to the United Nations undertaking to pursue sustainable development via a partnership among its Member Countries.

Environmentalist Simone Mangal-Joly has taken ExxonMobil, its partners and the consulting firm, ERM to task over the lack of a comprehensive fishery baseline study as part of the impact assessment for the oil  giant’s Yellowtail development.

Introduction Because of its centrality to the query — as to whether projected oil revenues are likely to be large enough and sufficiently stable to finance successfully income transfers of  the magnitude and stability required to alleviate substantially income poverty in Guyana — I need to explore more fully the workings of Government Take under the ruling PSA.

The Guyana Online Academy of Learning (GOAL), through a partnership with 3t EnerMerch, will be offering blended technical training scholarships for Guyanese who are interested in pursuing studies in the oil and gas industry.

The Alliance For Change (AFC) has flayed the PPP/C government over its handling of the auditing of US$9.5b in oil costs and has asked whether ExxonMobil has acquiesced to the scrutiny of the figure.

Having already found ten billion barrels of oil equivalent in the Stabroek Block, ExxonMobil is seeking an extra year before having to relinquish parts of the concession as it says that the COVID pandemic has severely hampered its work.

Introduction Today’s column and the next three provide a wrap-up commentary of aspects of the Buxton Proposal, which I believe have been somewhat misconstrued; whether by design or otherwise, in various public and private exchanges.

Dutch company, SBM Offshore on Wednesday announced that it has been awarded contracts to perform Front End Engineering and Design (FEED) for a Floating Production, Storage and Offloading vessel (FPSO) for the Yellowtail oil extraction project offshore Guyana.

By Bojan Lepic Rigzone Staff UK-based TechnipFMC has been awarded a ‘large’ contract by ExxonMobil to supply the subsea production system for the Yellowtail development off Guyana.

Sixteen days after it had been revealed that the statutory period for the auditing of US$9.5b in ExxonMobil’s expenses had expired without an audit firm being hired, President Irfaan Ali yesterday said that the forensic scrutiny of this massive figure will be done.

In the wake of government’s silence on its failure to audit over US$9.5 billion to date in post-contract expenses for Stabroek Block petroleum works, the Opposition APNU+AFC has taken to Parliament seeking answers and has asked for a copy of the US$460 million pre-contract audit report it had initiated.

The risk to various parts of the Caribbean from an oil spill from ExxonMobil’s planned development at Yellowtail was raised during the most recent consultation on the project.

As it denounced government’s negligence in failing to meet the deadline for the audit of over US$9 billion in expenses claimed by ExxonMobil, anti-corruption watchdog Transparency Institute of Guyana Inc.