Home » Guyana News Updates – May 11, 2022

Guyana News Updates – May 11, 2022

by terrence richard blackman
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3rd Annual Guyana International Petroleum Business Summit & Exhibition – GIPEX 2022

May 10-12, 2022




GUYANA: ZOOM Event: The Oil Contract: a review

Moray House Trust – Thursday 12th May 2022



US Commerce Department South America Business Conference

Monday, May 16, 2022 – Sao Paulo Brazil




Guyana Agri Expo – Department of Public Information

May 19-21, 2022



Guyana: the world’s fastest growing economy

MENAS London – Wednesday 25 May 2022




Int’l Energy Expo 2023 launched with focus on traditional sectors – Guyana Times





Guyana Is On Track To Become A Leading Global Oil Producer | OilPrice.com



Guyana to remain ‘low risk’ as forecast oil, gas spend tops US$60bn – Bnamericas



Environmental impact of gas-to-energy project will be minimal – ExxonMobil: Guyana Times  

As Guyana moves to establish a gas-to-energy initiative, Esso Exploration and Production Guyana Limited (EEPGL) – commonly referred to as ExxonMobil Guyana, is required to engage stakeholders in an Environmental Impact Assessment (EIA) before the Environmental Protection Agency (EPA) can give its stamp of approval. A total of 11 public meetings have been arranged for coastal regions. On Wednesday, two were held in Region Six (East Berbice-Corentyne). The application for the gas-to-energy project was submitted in June last year by ExxonMobil, and it was then determined by the EPA that the EIA was required.


Exxon commences drilling operation at Yellowtail-2 Well: Kaieteur News

Oil giant, ExxonMobil, has launched another drilling campaign, this time at the Yellowtail-2 well site in the Stabroek Block of Guyana’s Exclusive Economic Zone (EEZ). The offshore activity commenced Tuesday and will conclude on June 30, 2022. The well site is situated approximately 99 nautical miles (183.3 kilometres) from the coast of Guyana and covers an area of 0.29 square nautical miles (1 square kilometre). The MODU Stena Carron will be engaged in the drilling activities, while a total of 26 vessels will also be used to support the drilling operations.


No drilling in Demerara Block this year; focus solely on Corentyne area – CGX: News Room

The joint venture comprising CGX Energy and Frontera Energy, which has been searching for oil offshore Guyana, has no plans to drill any wells in the Demerara Block this year. Member of the CGX Energy Board of Directors and Senior Technical Advisor Dr. Mark Zoback on Monday said that the companies will focus on further exploration at the Corentyne Block, where the presence of light oil and gas condensate has been confirmed. “…that’s the highest priority,” Dr. Zoback said of further exploration in the Corentyne Block.


Guyana withdraws first US$200 million from oil fundOilNOW

Guyana’s Senior Finance Minister Dr. Ashni Singh announced on Tuesday that the government has made its first drawdown from the Natural Resource Fund (NRF) in accordance with the Natural Resource Fund (NRF) Act 2021. Dr. Singh indicated that pursuant to Section 16 of the NRF Act 2021, US$200 million equivalent to G$41.7 billion has been transferred from the Natural Resource Fund to the Consolidated Fund to finance national development priorities.


Guyana gas potential could be as lucrative as oil; draft master plan in play – VPOilNOW

Guyana’s gas reserve is currently estimated to be 16 trillion cubic feet (Tcf). It surpasses Trinidad and Tobago’s 11 trillion cubic feet (Tcf) which ranks 36th in the world. Given the significance of the gas discovered and the government’s plans to move ahead with the monetisation of the resource via its imminent gas-to-energy project, there have been discussions on the need for Guyana to formulate a Gas Master Plan. Vice President, Dr. Bharrat Jagdeo during a recent engagement with members of the media was keen to note that the government appreciates the value of this advice and is working towards this objective.


Too soon to say whether Corentyne Block’s Kawa find is commercial – CGXOilNOW

CGX’s Senior Technical Advisor, Dr. Mark Zoback, was asked whether the company regards the Kawa well in the Guyana Corentyne block as commercial, and he said, during a Monday virtual presentation, that it is too soon to say. “It’s going to take not only the exploration wells but appraisal, complete mapping of the potential of this essential channel complex to really know where we are. We’re very optimistic at this point,” Dr. Zorback said.


ExxonMobil awarded top certification for Methane Emissions Management in Permian Basin: OilNOW

ExxonMobil Corporation says that approximately 200 million cubic feet per day of natural gas produced from its Permian Basin facilities at Poker Lake, New Mexico have been independently certified and received the top grade for methane emissions management. The certification from MiQ helps the company meet customer demand for energy produced with fewer emissions. MiQ awarded the “A” grade certification because of ExxonMobil’s extensive multi-tiered technology approach to methane monitoring and mitigation.


Moray House panel to review 2016 oil agreement: Stabroek News  

A Moray House Trust (MHT) panel will tomorrow review the controversial 2016 Production Sharing Agreement (PSA) signed between the Guyana Government and ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL). A statement from MHT said that the event is scheduled for May 12th , 2022 at 5 pm. The panel will include Dr Vincent Adams (former head of the Environmental Protection Agency), Fred Collins (President, Transparency Institute Guyana Inc), Darshanand Khusial (Oil and Gas Governance Network, OGGN) and Chris Ram.


Govt. plugs loophole for accurate measurements of oil without renegotiating Stabroek Block deal – Yellowtail Licence reveals: Kaieteur News

Since 2017, Kaieteur News has been at the forefront of highlighting the absence of provisions in the Stabroek Block Production Sharing Agreement (PSA) which preserve the country’s right to verify how ExxonMobil measures oil offshore. It appears, however, that the PPP/C Administration has been able to plug this loophole without renegotiating the lopsided deal. The government has done so by inserting a suite of robust provisions on measurements into the Petroleum Production Licence (PPL) for Exxon’s US$10B Yellowtail Project.


Govt. must come clean on details of energy projects – Ramon Gaskin: Kaieteur News

…convinced Guyanese will be saddled with more problems

Expediting huge sums of taxpayers’ dollars on projects that are touted to be for the benefit of the Guyanese public requires transparency and accountability. This position held by several transparency advocates, has been iterated by former Chairman of the Guyana Power and Light Inc. (GPL)’s Board, Ramon Gaskin… He was at the time responding to questions as it relates to government’s proposed Amaila Falls Hydropower Plant and the Gas-to-Energy projects which are being pushed as part of the State’s agenda to end Guyana’s blackout problems.


No gas leak management plan submitted by ExxonMobil for Gas-to-Energy pipeline: Kaieteur News

Though gas leaks, and worse yet, explosions or fires are all listed as likely ‘unplanned events’ that can take place, as a result of the pipeline ExxonMobil will be laying to transport gas from the Liza One and Two development to the Wales project site, the oil company has completely glossed over how it would respond to such a disaster as no management plan in this regard has been submitted to accompany its already submitted Environmental Impact Assessment (EIA).


With 50,000 workers needed, UG pitches itself to help fill the gap – News Room Guyana

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