Guyana Oil and Gas News

Guyana needs to get independent help to craft its plans for the oil and gas sector, while also building local capacity, the former head of Brazil’s oil and gas regulatory body Nelson Narciso Filho has said. 

Guyana should not hold off on establishing a National Oil Company (NOC), according to the former head of Brazil’s oil and gas regulatory body, Nelson Narciso Filho, who says it would be essential for ensuring local capacity in industry planning and negotiations.

Specific information from several “whistle-blowers” is what sparked an investigation close to a year ago into the issuance of about 20 oil exploration licences here, and with only a desk review done thus far, the State Assets Recovery Agency (SARA) has seen no evidence of irregularities yet.

Two months after former government advisor on petroleum, Dr  Jan Mangal called for an investigation into the awards of oil blocks near to Exxon-Mobil’s Stabroek Block, Director of the State Assets Recovery Agency (SARA),  Professor Clive Thomas has revealed that such a probe is underway.

Director of the Department of Energy (DoE), Dr. Mark Bynoe, has rejected the claim published in the May 17th edition of the Kaieteur News that Oil Consultant Dr Michael Warner, who was hired to complete Guyana’s draft Local Content Policy, is employed by ExxonMobil.

The Civil Defence Commission (CDC), in collaboration with ExxonMobil, yesterday rolled out the oil spill response training component of its Volunteer Emergency Response Team (VERT) programme.

With expected production just months away, CNOOC Petroleum Guyana Limited (CPGL) has advertised for a Liftings/Operations Coordinator who will oversee the collection of the company’s share of oil.

Almost two years after local firm Source One Supply Oil and Gas Marine Supplies proposed building a US$120 million onshore oil and gas facility at Vreed-en-Hoop, no substantial feedback has been received from government, Chief Executive Officer Terry Singh says.

Boasting success since its provision of onshore support services for ExxonMobil in 2017, Guyana Shore Base Inc (GYSBI) on Thursday announced a massive expansion, as it has increased its logistics support areas from 35 acres to 85 acres.

Renegotiate, rescind, reimburse, then auction off so that Guyana reaps the maximum value from its oil blocks, is the advice that petroleum expert Dr Jan Mangal drilled into those who attended his presentation at the Guyana Petro-leum Summit in Houston, Texas on Thursday.

Qualified Guyanese youth are a step further to seeing their dreams of employment in the emerging oil and gas sector being fulfilled in the wake of a career fair hosted by Schlumberger Guyana.

Introduction Today’s column evaluates the University of Trinidad & Tobago’s (U of T&T) modelling of the Liza Field Development.

Guyanese looking to apply for entry positions into the oil and gas industry, will now be presented the opportunity, as Schlumberger Guyana will be hosting a career fair on Saturday.

Government has advertised for consulting services to provide guidance on selling Guyana’s share of crude oil, expected early next year with oil major ExxonMobil’s Liza Phase 1 project on track to achieve first oil by the first quarter of 2020.

There is a need for legislation for dispute resolution, a reliable and predictable legal system and a judiciary that is capable of interpreting complex agreements to manage the oil and gas sector, former Executive Director of the Financial Action Task Force (CFATF) Calvin Wilson said on Saturday.

Guyana needs to develop its own strategic plan for the oil and gas sector as having it done by other countries risks those countries’ interests being put above Guyana’s, former Petroleum Advisor to the government, Dr Jan Mangal says.

Having received government and regulatory approvals, ExxonMobil yesterday announced that it has funded its Liza Phase 2 development project offshore Guyana and it is expected to cost US$6 billion and produce up to 220,000 barrels of oil per day, with startup expected in mid-2022.

ExxonMobil today said it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals.

An accounting specialist is being sought to advise the Department of Energy (DoE) on the management of cost recovery claims by operators in the oil and gas sector.

Newly appointed Minister of State Dawn Hastings-Williams will be responsible for the oil sector, Director General of the Ministry of the Presidency Joseph Harmon said yesterday.