Guyana Oil and Gas News

The Department of Energy (DE) yesterday announced that subject to the completion of a contract, Shell Western Supply and Trading Limited has been selected to buy Guyana’s first three oil cargoes.

ExxonMobil today said it had made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the Stabroek Block.

A day after the announcement of first oil and hailing what it said was visionary leadership by the late President Janet Jagan in engaging ExxonMobil, the opposition PPP yesterday flayed the government’s handling of the petroleum sector and pledged to have the necessary legislative framework installed in six months were it to win the March 2 general elections.

Over the last month UK explorer Tullow Oil has lost more than £1bn from its market value after announcing a decrease in its production capabilities over the next three years.

As the discussion of local content and Guyana’s preparation for the nascent oil and gas industry continues, a former Government Technical Institute student who now works with Saipem (an Italian oil and gas industry contractor) is saying to youths that it is not too late to get prepared and educated for the myriad job opportunities that come with the sector.

Guyana is now officially a producer of petroleum. The historic moment was announced last night by US oil major ExxonMobil and came less than five years after one of the company’s subsidiaries made a major oil find in the Liza-1 well offshore in the sprawling Stabroek Block.

A heliport being constructed at Lusignan on the East Coast of Demerara has raised questions about how approval for its construction was given and about air safety.

An official from the American Petroleum Institute (API) over the last few days spoke to around 200 business representatives on quality management systems.

ExxonMobil today announced that oil production has started from the Liza field offshore Guyana ahead of schedule and less than five years after the first find of hydrocarbons, which is well ahead of the industry average for deepwater developments.

Opposition Leader Bharrat Jagdeo yesterday warned that if his party returns to government it will exclude the company which concludes an agreement with the current administration to buy Guyana’s first oil from “any and all open tenders”.

President David Granger on Wednesday assured military veterans of his commitment to ensuring that they live comfortable lives and that their future generations will benefit from petroleum revenues which should not go to the pockets of the rich.

Strategic Recruitment Solutions Inc. (SRS), a local human resources and talent recruitment firm, is continuing to ensure that Guyanese find work in the burgeoning oil and gas and related sectors and it has trained and enabled 94 persons to find work in those fields to date.

The Audit Office of Guyana will be auditing the sale of the first three million barrels of Guyana’s oil to ensure that it is transparent as government’s explanation of the process does not make sense, Auditor General Deodat Sharma has said.

United Kingdom-headquartered Information Handling Services (IHS) Markit has been hired by government to undertake the auditing of ExxonMobil’s pre-contract charges and last week began working alongside the Guyana Revenue Authority (GRA).

While declaring that no laws were broken in the selection of companies to come here to bid on Guyana’s first three lifts of oil from the Liza-1 field, Director of the Department of Energy (DE) Dr.

International lawyer and environmental activist Melinda Janki has called on members of the United Nations to request Guyana to halt all oil activities until human rights are protected.

Under growing criticism over a previously unannounced sale of Guyana’s first three cargoes of oil from ExxonMobil’s Liza-1 field, the Department of Energy (DoE) yesterday defended its plan, saying that the interim arrangement was approved as the full extent of the quality of the crude is still unknown and it wants to set a benchmark to guard against any possible down-pricing in future sales.

As government prepares to meet today with prospective buyers of Guyana’s first three cargoes of crude from ExxonMobil’s Liza-1 field offshore Guyana, attorney Sanjeev Datadin says he will be filing court action to block any agreements made during those discussions.

Oil traders from Houston, Geneva and London are expected to begin bidding on Monday on some of Guyana’s first oil cargoes, Bloomberg news has reported.

First oil production from ExxonMobil’s Liza-1 field offshore Guyana is still expected this month with the oil major, having completed hookup of the equipment, currently testing it.