Guyana News Updates, May 24, 2022

 

 

Economic benefits of gas- to-energy project – Guyana Times

 

Gas project will help push micro, small, medium businesses, avert Dutch Disease – GCCI President | OilNOW

 

ExxonMobil pushing ahead with Guyana gas to energy project – Bnamericas

https://www.bnamericas.com/en/news/exxonmobil-pushing-ahead-with-guyana-gas-to-energy-project

 

Studies have not shown oil and gas operations driving impact on fisheries – Exxon Official: OilNOW

ExxonMobil Guyana’s in-country projects manager, Anthony Jackson, said the company is committed to supporting studies on the environmental impacts of its operations, so it can understand if they have any impact on Guyana’s fish stock. He made this comment during a public scoping meeting for the Uaru Development, the fifth project at the Stabroek Block. The session was held on Monday at the Umana Yana in Georgetown.

 

Environmentalist calls on FAO to release study on fish catch: Stabroek News  

Environmentalist Simone Mangal-Joly has written to the Food and Agricultural Organisation (FAO) calling on it to release a study which purports to say that Guyana’s oil and gas industry is not causing the low fish catch being experienced by fishermen here. In a letter yesterday to Julio Berdeague, Assistant Director General of the FAO,  Mangal-Joly cites a May 22, 2022 Demerara Waves article: “Oil industry not responsible for low fish catch – FAO study”  where it was reported that Minister of Agriculture Zulfikar Mustapha had stated that offshore oil and gas activities have not played a role in the decline of the fish catch.

 

Acorn International selected by EEPGL to do environment survey for 5th offshore project: Stabroek News  

-scoping meeting hears

Following concerns over the repeated use of one consultant for the environmental surveys for ExxonMobil’s operations here, a different company was selected for the oil major’s fifth planned offshore project but the controversy is likely to rumble on. Acorn International, which like ExxonMobil is headquartered in Houston, Texas in the US is the company that will take over from Environmental Resources Management (ERM).  At a public scoping meeting at the Umana Yana yesterday for the Uaru project, Acorn stated that it had been selected by project developer, ExxonMobil’s subsidiary, EEPGL and had gotten a no-objection from the Environmental Protection Agency (EPA).

 

The implications of a National Oil Company (NOC) in Guyana | OilNOW

 

Any strategic partner should bear financial burden of setting up national oil company– Int’l AnalystKaieteur News

Guyana must be mindful not to expend unnecessary funds in the development of a national oil company if it is to develop an operating model using a strategic partner. Already, experienced individuals within the local and international oil industry, as well as some financial institutions, have advised Guyana against such a move declaring that financial returns from oil endowments may be best gained from improving the contract that deals with profit sharing between the country and its operating partner.

  

Local Content policy not meant to drive away foreign investors -Natural Resources Minister – News Source Guyana

https://newssourcegy.com/news/local-content-policy-not-meant-to-drive-away-foreign-investors-natural-resources-minister/

 

Govt. gives Exxon leeway in licence to change costs, development plan for US$10B Yellowtail ProjectKaieteur News

It appears that the Government of Guyana has given ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), enough leeway to change as it deems necessary, costs as well as the already approved development plan for the US$10B Yellowtail Project in the Stabroek Block. According to the provisions of the Petroleum Production Licence (PPL) that was awarded on April 1, 2022, “The Licensee may, with the written approval of the Minister, amend the Development Plan with respect to work and expenditure contained in the Development Plan, but the amendment shall not have effect so as to reduce any minimum requirements.”

 

Exxon relies on decade-old data to justify low gas emissions: Kaieteur News

Gas-to-Energy project…

ExxonMobil Guyana has used data from 10 years ago to conclude that its part of the Gas-to-Energy project, that is the onshore and offshore pipelines together with the Natural Gas Liquids (NGL) Plant, will not be a large scale emitter of the dangerous greenhouse gases (GHG) that lead to climate change. This was revealed during a recent consultation at the Umana Yana, in Georgetown, hosted by the oil company and its Consultant, Environmental Resources Management (ERM) that prepared the Environmental Impact Assessment (EIA) for the project.

 

Govt. gives Exxon leeway in licence to change costs, development plan for US$10B Yellowtail Project: Kaieteur News (Repeat)

It appears that the Government of Guyana has given ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), enough leeway to change as it deems necessary, costs as well as the already approved development plan for the US$10B Yellowtail Project in the Stabroek Block. According to the provisions of the Petroleum Production Licence (PPL) that was awarded on April 1, 2022, “The Licensee may, with the written approval of the Minister, amend the Development Plan with respect to work and expenditure contained in the Development Plan, but the amendment shall not have effect so as to reduce any minimum requirements.”

 

Auditing Exxon’s US$9B: Kaieteur News (Editorial) (Repeat)

The accountants and auditors have to know what is feasible in terms of time given the resources at hand. But to audit US$9B in cost recovery expenses representing some three years of activity by Exxon in a matter of four months looks like a real stretch. Auditing one year of such expenses in four months might be doable, but to demand that three years’worth of bills for that amount of money be completed in four months is pushing matters. The question is whether the man in charge of the nation’s oil is not setting up a situation where Guyana is being taken to the cleaners.

  

Repsol preparing to spud Beebei-1 well at Kanuku Block: OilNOW

Repsol, operator of the Kanuku Block offshore Guyana, is preparing to undertake drilling operations at the Beebei-1 prospect. OilNOW understands the well will be spudded around May 25. In a January trading statement, Tullow Oil had said the partners are targeting the Cretaceous light oil play of the Guyana-Suriname Basin. The Noble Regina Allen has been contracted for use in this period. The operation is scheduled to conclude around July 15, 2022, according to notices from Guyana’s Maritime Administration Department (MARAD).

 

TTMA happy with Trinidad and Tobago, Guyana MOU

 

Leave a Reply