All the latest news and commentary on the new Guyana Oil and Gas sector include exploration, drilling, policy, impact and more.
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.
The oil and gas industry is facing strong competition in attracting science, technology, engineering and mathematics (STEM) talent but almost half of the younger generation is interested in the industry, according to a survey released by ADNOC.
General Secretary of the Guyana Trades Union Congress, Lincoln Lewis has called for measures to be put in place to ensure that citizens are not forced to work for crumbs in the oil and gas sector while foreigners benefit and suggested several amendments to the rules surrounding the functioning of the National Assembly.
Representatives of the majority-state-owned Brazilian oil company, Petrobras yesterday presented a five-year strategic plan for Guyana’s oil and gas industry, which includes technical assistance, export and import services and training, according to a statement from the Department of Public Information (DPI).
After months of intense negotiations on oil spill coverage and other insurance provisions, ExxonMobil’s local subsidiary Esso Exploration and Production Guyana Limited (EEPGL) was last week granted an environmental permit for its Liza Phase 2 project.
An Order to exempt Tullow Guyana BV and Eco (Atlantic) Guyana Inc from various taxes has been laid in the National Assembly.
ExxonMobil’s announcement a week ago that it had made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block, was not the only recent indication of the consolidation of its hold on the oil and gas sector in the hemisphere.
The interest of Guyanese businesses in the oil and gas sector is higher than anticipated, according to Director of the Centre for Local Business Development (CLBD) Patrick Henry, who says that of the 2,675 businesses registered with it over the past two years, 1,573 are local.
ExxonMobil Guyana yesterday announced the installation of its first subsea tree for its Liza Phase 1 Development Project, offshore Guyana.
Guyana could see oil exploration activity in the ultra-deepwater region picking up pace in the near future with United States oil giant Chevron set to buy Anadarko Petroleum Corp, which holds an exploration licence for the Roraima Block offshore Guyana.
The United States acknowledges that it is within Guyana’s sovereign right to renegotiate the controversial Production Sharing Agreement (PSA) between the country and ExxonMobil and its partners if it so chooses, recently accredited US Ambassador to Guyana, Sarah-Ann Lynch says.
Even as drilling exploration continues at its Yellowtail-1 site in the Stabroek Block, offshore Guyana, ExxonMobil is undertaking an environmental baseline survey of the nearby Kaieteur Block.
The GAC Logistics and Shipping (Guyana) Incorporated was officially launched on Friday.
NABI/KCL Oilfield Construction Services Guyana yesterday announced that it has been awarded the contract to build the new office facilities of Esso Exploration and Production Guyana Limited (EEPGL) at Ogle, East Coast Demerara.
The Government of Guyana on Friday received a US$20 million loan from the World Bank to support capacity building for Petroleum Resources Governance and Manage-ment.
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