Guyana Oil and Gas News

Just weeks after its 10th major find, ExxonMobil is gearing up to begin drilling for oil at two separate locations offshore Guyana.

Introduction “You couldn’t do the math”, said Ambassador Perry Holloway in his interview with reporters published in Stabroek News last Tuesday December 9, 2018 as he exhorted us Guyanese to educate ourselves about the fortune coming our way from ExxonMobil’s oil.

Subject to approval by the Toronto Stock Exchange (TSX) Canadian oil and gas Exploration Company CGX Energy Inc.

On the heels of its partner Hess boasting of its Guyana’s offshore operations being pivotal to its projected financial gains, oil major ExxonMobil has lauded this year’s five discoveries and echoed similar sentiments even as it believes that more gains will be made in 2019.

The development cost for ExxonMobil’s offshore Liza Phase-1 project has been significantly revised from the projected US$4.4 billion to US$3.7 billion.

Part 66   Introduction Mr. David Patterson, Minister of Public Infrastructure, offered a commendably prompt but strange response to last week’s column by way of his December 8 letter to the editor “The 2019 budgetary allocation has nothing to do with natural gas”.

A state-of-the-art building will be constructed next year to house the Department of Energy, State Minister Joseph Harmon disclosed yesterday during the consideration of the estimates of the Ministry of the Presidency’s Petroleum and Energy Management Programme.

The oil and gas and aviation sectors are to be included in an “alliance” created by the Ministry of Social Protection in an effort to curb the incidence of accidents in the various sectors, Minister in the Ministry of Social Protection Keith Scott told the National Assembly in his post-budget presentation earlier this week.

Introduction Today’s column carries out a commitment I made in a letter earlier this week responding to a statement by Mr.

ExxonMobil yesterday told prospective suppliers that it is seeking local partners that will support its goals, including health and safety, environmental and regulatory compliance, quality, and cost competitiveness. 

As budgets go, the $300.7b one presented by Finance Minister Winston Jordan last Monday isn’t much different from its predecessors or indeed those of the previous government in their main constructs.

Dr Jan Mangal, former petroleum advisor to President David Granger, has said he advised government against investing in the development of the now shelved onshore oil and gas supply facility at Crab Island, in Region Six, as the proposal did not go through the due diligence needed for the investment, which would have required billions of taxpayers’ dollars.

(Trinidad Guardian) Min­is­ter in the Of­fice of the Prime Min­is­ter Stu­art Young has an­nounced that the gov­ern­ment has reached an agree­ment with BP and Shell that he says with bring “sig­nif­i­cant” fi­nan­cial ben­e­fits to Trinidad and To­ba­go.

Local anti-corruption watchdog Transparency Institute of Guyana Inc  (TIGI) is seeking to marshal civil society organisations to ensure the scrutiny of the governance of Guyana’s oil and gas sector that is needed to avoid pitfalls experienced by other producers.

ExxonMobil has had to delay a Final Investment Decision (FID) on its Liza Phase-2 project as a result of the Guyana government’s move to carefully assess Field Development Plans (FDPs).

Introduction Figures contained in the 2017 financial statements of Esso Exploration and Production Guyana Limited indicate that the three-party set up of Esso, Hess and CNOOC Nexen will spend well over five hundred billion dollars ($500,000,000,000) up to December 2019.

Finance Minister Winston Jordan on Monday introduced the Natural Resource Fund Bill 2018 for first reading in the National Assembly.

With a target to spud its first exploration well next year, the Madrid, Spain headquartered oil company Repsol will tomorrow begin offshore works in the Kanuku Block.

ExxonMobil affiliate Esso Exploration and Production Guyana Ltd (EEPGL)  is currently searching for a Safety, Health and Environmental Analyst for its operations here. 

A 22-member Public Accountability and Oversight Committee has been proposed to ensure the transparent spending of the funds.