Guyana Oil and Gas News

Introduction The absence of or rather failure to appoint inspectors and a Chief Inspector was highlighted in last week’s column.

Introduction Today we turn our attention to how the country, and more particularly the PPP/C Government and the APNU+AFC Coalition Government have managed the country’s potential and discovered petroleum resource.

In today’s column we conclude our review of the science and technology which goes into the prospecting, exploration, development and production of petroleum products.

Part 6 – June 30, 2017 You will have noted that the title of the column this week has been changed from Oil and Gas – the new Economic Horizon.

Local Content So far, these columns have taken a narrative approach and it was intended that once all the information was placed on the table, some analysis, both critical and policy directed, could be undertaken.

“We use or produce oil but the contracts that make it all possible have been secret.

“There are not many places left on earth where you can put together an acreage portfolio like this ….

The second in this series of columns on Oil and gas turns its attention to the legislative and regulatory framework for the exploration and production of oil and gas in Guyana.

As Guyana moves to First Oil – that long dreamt event with the possibility of transforming our country – it is hoped that this column will contribute to a better understanding of the vast opportunities and the unobtrusive pitfalls that await us.

The newly formed Guyana Oil and Gas Energy Chamber (GOGEC) has been set up to ensure that there is inclusive stakeholder participation in the emerging industry, its Chairman Manniram Prashad says.

According to Pedro Haas, Director of Advisory Services at Hartree Partners who was tasked with carrying out a feasibility study for an oil refinery in Guyana, the cost to construct such a facility would be some US$5 billion, and would see at least half the invested amount lost upon commissioning.