Home » Guyana News Updates – May 9, 2022

Guyana News Updates – May 9, 2022

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

May 10-12, 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






Oil revenue spending on social and economic transformation has started: Kaieteur News (Columnist) Consumer Concerns by Pat Dial

– Political Opposition, concerned NGOs and public have heavy responsibility of monitoring, analysing for transparency

It has often been said that the discovery of oil in any country brings with it both blessings and curses. One such curse which has descended upon Guyana is the plethora of advice and fearsome threats from both local and foreign sources foretelling of the frightening dangers which lie in wait to envelop the country.


Yellowtail Production Licence reveals… ExxonMobil must conduct study of gas in all Stabroek Block projects, discoveries: Kaieteur News

According to the Petroleum Production Licence (PPL) for the US$10B Yellowtail Project, ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) will be required to conduct a Gas Utilisation Study to examine the associated gas and non-associated gas available from all approved oil projects and discoveries in the Stabroek Block. It therefore means that the government is seeking to ascertain how much gas is in the Liza Phase One, Liza Phase Two, Payara and the Yellowtail Projects. The administration also wants Exxon’s help in understanding the oil to gas ratio of all its discoveries in the Stabroek Block.


Guyana holds over 10% of all conventional resource finds since 2015OilNOW

Guyana has made its mark in the global oil and gas industry with an estimated proven recoverable resource of nearly 11 billion oil-equivalent barrels in the ExxonMobil-operated Stabroek Block. “That figure accounts for more than 10% of all the conventional resource finds in the world since 2015 when Guyana first discovered oil,” said Liam Mallon, ExxonMobil’s President of Upstream Oil and Gas. The company’s three latest discoveries at the Barreleye-1, Patwa-1, and Lukanani-1 wells led to the increased resource estimate – a figure that had previously stood over 10 billion oil-equivalent barrels.


Exxon pledges strictest adherence to int’l standards on flaring, produced water treatment for Uaru ProjectOilNOW

ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL) has assured authorities in Guyana that its proposed development at Uaru will abide by the strictest international standards and best practices for gas flaring and produced water. Application process for Exxon’s fifth Stabroek Block development underway. In its project summary, EEPGL said Uaru will be designed for no routine flaring of associated gas. The gas will be used for fuel or will be reinjected into the reservoirs to improve oil recovery. EEPGL said this design is consistent with ExxonMobil’s plans to align with the World Bank’s initiative to eliminate routine flaring by 2030.


Yellowtail Development: Exxon to provide gov’t with list of training opportunities for GuyaneseOilNOW

The Petroleum Production Licence (PPL) for the US$10B Yellowtail Project stipulates that ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL), must provide the government with a list of potential opportunities for local and overseas training or secondee positions within its organisations or affiliated companies, together with estimated costs. EEPGL is required to provide this information to the State within six months of the date it received the Yellowtail PPL (April 1, 2022). It must also update this list each calendar year.


Guyana must improve citizens’ spending and productive abilities for real oil development: Kaieteur News

Apart from the strides being made by government in updating laws, improving planning systems and strengthening oversight, Guyana must proactively increase the productivity of its people, and encourage improved incomes to ensure true economic transformation from its newfound oil wealth. This is the advice of Dr. Zainab Usman who believes that primary focus should be placed on human capital development as a means of ensuring the successful economic development of the country through its oil endowments. Usman, a Senior Fellow and Director of the Africa Programme at the Carnegie Endowment for International Peace in Washington, D.C., is another international expert lending a voice to positively guide Guyana within its oil and gas fortunes.


Exxon ignores calls to halt gas-to-shore consultations: Kaieteur News

– says engagements will proceed as planned

United States oil major, ExxonMobil has said it will be proceeding with its planned consultations on the Wales Gas to Energy pipeline project, even though one Attorney and activist has called for the sessions to be postponed until after the 60 days public review period has ended. The activist, Ms. Elizabeth Hughes on Thursday penned a letter to the Exxonmobil Guyana President, Alistair Routledge as well as the Head of the Environmental Protection Agency (EPA) where she argued that the consultations are nothing but a distraction.


LCDS will help Guyana avoid perils of fossil fuel trap – environmental scientist: Kaieteur News

With the emergence of the oil and gas sector, Senior Director for Climate and REDD+ at the Ministry of Natural Resources, Pradeepa Bholanath asserts that the government’s Low Carbon Development Strategy (LCDS) 2030 is more important now than ever. During an interview on Kaieteur Radio’s Programme, Guyana’s Oil and You, Bholanath explained that back in 2010, stakeholders had conducted various debates about balancing the competing objectives associated with economic development and the environmental impacts.


Exxon’s recovery of US$1.3B plus investment in Wales gas-to-power project violates int’l best practices – Industry Expert: Kaieteur News

Vice President, Dr. Bharrat Jagdeo has said that ExxonMobil Guyana will be able to recover its US$1.3B plus investment in the imminent gas-to-power project from Cost Oil; in other words, Exxon would be recouping its investment in the gas project from the country’s oil earnings. Industry stakeholders are however concerned about this arrangement and worry that the government has not thought through the economic impacts. Specifically, one industry expert told Kaieteur News that the arrangement leaves Guyana with an even smaller piece of the pie since cost oil should only be associated with expenses incurred for the extraction, development, production and sale of the oil in a specific oil field.

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