Guyana Oil and Gas News

United States oil and gas service provider Hallibur-ton yesterday signed a US$2 million agreement with the University of Guyana (UG) to support the Faculty of Engineering and Technology as education and skills building took centre stage when the Guyana International Petroleum Exhibition Summit (GIPEX) continued yesterday.

LONDON,  (Reuters) – Exxon Mobil plans to sell up to US$25 billion of oil and gas fields in Europe, Asia and Africa in its biggest asset sales for decades, seeking to free up cash to focus on a handful of mega-projects, according to three banking sources.

With Guyana’s Natural Resources Fund (NRF) soon to be set up, former Trinidad and Tobago Ambassador to the United States and senior consultant with the multinational law firm Dentons Dr.

Even as concerns are raised about Trinidad & Tobago companies accessing oil & gas service jobs that locals are capable of doing or not getting the opportunity to tap into, yet another company says it will be providing transportation services here.

Introduction Mr. John Hess CEO of Hess Corporation disclosed that his company paid US$30 million for a 30% stake in ExxonMobil’s Stabroek Block.

In a joint venture with the United Kingdom-based InterOil Group Ltd, businessman Stanley Ming is developing a US$200 million oil and gas shore base at Parika, East Bank Essequibo, where, according to him, locals will be able to rent space to provide services for the sector.

Pledging that local content will continue to be foremost in its future plans even as it builds “momentum,” US oil company ExxonMobil yesterday said that its local workforce has tripled since operations began in 2015 and that figure will increase as its projects ramp up.

Oil and gas support services company Halliburton wants to set up a liquid mud plant at Water Street and while the Envi-ronmental Protection Agency (EPA) says the project doesn’t warrant an Environmental Impact Assessment (EIA), it will be monitoring adherence to structural requirements.

With over 2,000 local businesses registered and 70 of those securing joint ventures or other partnerships with international businesses, the Centre for Local Business Development (CLBD) is seeking ways for members to have easier access to finance.

With first oil on the horizon, the Georgetown Chamber of Commerce and Industry (GCCI) has lamented the fact that the A Partnership for National Unity+Alliance For Change (APNU+AFC) government is yet to provide feedback on and finalise the third draft of the national Local Content Policy that was released to the public some weeks ago for comments.

Demerara Distillers Limited (DDL) yesterday announced that it has entered an oil and gas service joint venture partnership with Trinidadian company CWSL and their plans include the development of a “world-class” shore base facility.

Demerara Distillers Limited today announced that it had entered a joint venture partnership with Trinidadian company CWSL for the oil and gas sector which includes the development of a “world-class shore base facility”.

President David Granger yesterday told a visiting IDB team that Guyana must be prepared in the shortest possible time for the coming of first oil.

Advocating for the allocation of a “fair share” of the returns from the country’s oil and gas industry, bringing the Essequibo Chamber of Commerce (ECC) into the national business mainstream and aggressively promoting the ‘Cinderella County’ as a hotspot for tourism are among the key priorities of  Region Two businessman Roopan Ramotar who, last Sunday, was elected Chairman of the (ECC).

While the local response to this week’s disclosure that the British company Tullow Oil is now in the process of reassessing the commercial viability of its recent oil discoveries offshore Guyana has been relatively muted, not so that of the wider international community including those constituencies with vested interests in the well-being of the company.

Today’s column highlights a few issues raised by Mr. Raphael Trotman, then Minister of Natural Resources who appeared before the Natural Resources Committee of the National Assembly on May 18, 2018.

While underscoring that its two finds so far offshore Guyana were heavy crude oil and it will now have to assess the viability of the project, the United Kingdom-based Tullow Oil has assured that it is not thinking of leaving.

UK explorer Tullow today said that oil found in two offshore wells in Guyana was heavy crude and the company and its partners would have to assess the commercial viability of the project.

ExxonMobil will be training protected species observers as part of its plans to mitigate the environmental impact on marine life of its operations offshore and it is encouraging organisations to apply although it has already received about 100 applications for training.

With increased oil and gas activity necessitating the treatment and disposal of hazardous waste, the Environmental Protection Agency (EPA) is working to identify sites around the country for the development of state-of-the art landfills while it prepares for closer scrutiny of ongoing operations.