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Guyana News Updates, July 19, 2022

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GUYANA UPSTREAM: A RYSTAD ENERGY INDUSTRY AND COUNTRY BENCHMARKING UPDATE – JUNE 2022

Caribbean Policy Consortium & Guyana Business Journal

Thursday, July 21, 2022 @ 10:30amEDT

https://hopin.com/events/guyana-business-journal-caribbean-policy-consortium-white-paper-webinar-e695418e-02a0-48a4-b592-50bc2db1e748/registration

A conversation with H.E. Irfaan Ali, President of the Co-operative Republic of Guyana – Atlantic Council

Monday, July 25, 2022

Strengthening the Guyana – U.S. Relationship | Center for Strategic and International Studies

Wednesday July 27, 2022

https://www.csis.org/events/strengthening-guyana-%E2%80%93-us-relationship

The Unjust Realities Of Climate Change In The Caribbean

PM Rowley Co-chairs US/Caribbean Energy Security Action Committee – CARICOM Today

Guyana can balance the exploitation of her natural resources and protect the environment | OilNOW

Guyana’s largest shore base secures 11-year contract extension with Exxon: OilNOWNews RoomStabroek NewsKaieteur NewsGuyana StandardGuyana TimesiNews           

The Guyana Shore Base Inc. (GYSBI) – the South American nation’s premiere shore base facility secured an 11-year extension contract to see it giving continued service to ExxonMobil’s Guyana affiliate, Esso Exploration and Production Guyana Limited (EEPGL). GYSBI’s new contract will run up to 2033, building on the existing contract that was awarded back in 2017. Within that timeframe, GYSBI said it directedly invested some US$300M in port infrastructure and real estate development, warehousing, and support services.

News Room:  With its current five year nearing an end, Guyana Shore Base Inc. (GYSBI) has secured an extended contract with US oil giant ExxonMobil which will run for another 11 years. The company has reiterated its commitment to local content development and opportunities for Guyanese.

Oil resources must be exploited while time allows: Guyana Chronicle (Letter to the Editor) by Harry Hergash

I WRITE regarding Freddie Kissoon’s article “Oil and Guyana’s future” (Kaieteur News, July 08, 2022). I agree with his view that the EXXON-Guyana oil contract “could have been better for Guyana in comparison to other oil explorations around the world.” He writes “The [oil] industry is going to be around for another 50 years. In that interregnum, countries incredibly rich and billions of miles ahead of Guyana will sell oil within those 50 years.”

Guyana modernising transport infrastructure in region set for major development: OilNOW

As the growth of Guyana’s oil and gas sector fuels development in areas where service centers are erected, the government is moving to upgrade and modernise supporting infrastructure – particularly for the transport sector. Through the Central Housing and Planning Authority (CH&PA), one such project has seen the government move to construct a four-lane highway from Crane to Schoonord in Region Three. This will precede the planned construction of a four-lane highway from Schoonord to Parika on the East Bank of Essequibo (EBE).

Guyana will not engage in “unproductive splurge” of oil revenues – Vice President: OilNOW

Guyana intends to invest billions of dollars in oil revenues in the country’s capital projects to build capacity and transform infrastructure.  According to the Vice President, Dr. Bharrat Jagdeo, this is “absolutely necessary” to get the most out of the country’s most lucrative sector. At a recent Guyana Manufacturing and Services Association (GMSA) dinner, the VP emphasized that “capital expenditure is vital for the growth of any business.” The official has, time and time again, argued against using the oil revenues for cash transfers across the board to households.

Evening News – 23:34: Major interest shown for consultant to manage Gas-to-Shore construction – Bharrat

New Understanding the Decommissioning Liability of EEPGL, Hess and CNOOC: OilNOW (Columnist) by Joel Bhagwandin

There has been quite some misunderstanding and misinterpretation with respect to the accounting treatment of the decommissioning liability for the oil companies as reflected in their balance sheets. This article seeks to offer some clarity on the decommissioning provisions which is a future liability that is part of the business model of the oil companies. The decommissioning of offshore oil and gas facilities presents many challenges throughout all parts of the operation.

Jagdeo determined to accelerate exploration even if Guyana gets less: Kaieteur News

In a recent Reuters article titled, “Guyana races against the clock to bank its oil bonanza”, Vice President Bharat Jagdeo, is quoted as saying that the Government of Guyana wants to accelerate oil exploration to develop the economy speedily – even if it means Guyana gains less. Notwithstanding calls from sections of society to not licence any new projects for development just yet, the Vice President is reported in the media on different occasions, pushing the oil companies to go faster.

Any National Oil Company must be lean, clean, with strong parliamentary oversight – Oil Expert urges: Kaieteur News

If established, what can a National Oil Company (NOC) do for Guyana in the most useful manner over time? This is perhaps one of the key questions the oil producing state must consider, says one of the world’s leading authorities on NOCs, Dr Valérie Marcel. In an exclusive interview with Kaieteur News, the expert on national oil companies, and petroleum-sector governance, was keen to note that the drivers for establishing a NOC are different today from 10 or even five years ago.

Exxon again sounds warning to fishing industry: Kaieteur News

…as company prepares to launch 35-well drilling campaign

US oil major, ExxonMobil is preparing for a new 35-well drilling campaign in the Stabroek Block, in a bid to discover more crude off the country’s coasts. Recently, the Government of Guyana indicated that an independent study conducted by the Food and Agriculture Organization (FAO) found that oil and gas operations have not caused the noticeable decline in fish catches, but yet another document submitted by Exxon is pointing to impacts to the country’s fisheries sector.

3t EnerMech to exclusively provide ECITB training in Angola and Guyana: Kaieteur News

3t EnerMech has signed a four-year exclusivity agreement with the Engineering Construction Industry Training Board (ECITB) to become the sole provider of its licensed training in Angola and Guyana. The strategic alliance between 3t Energy Group and EnerMech will deliver unique ECITB accredited skills programmes through its learning solutions in each region… In February this year, 3t EnerMech announced its venture with Orinduik Development Incorporated Training Centre to develop Guyana’s first oil and gas training facility – following more than (USD) $20 million of investment.

Oil verification leads to national satisfaction: Kaieteur News (Editorial)

We know that we have oil offshore by the billions of barrels.  But we really don’t know how much we have, or how much more is there, as gathered by the exploration studies conducted by ExxonMobil.  We don’t know how much the American oil company has pumped out and shipped away.  All we have is what ExxonMobil has released to us.  This is what leaders in this PPP/C Government are happy to accept, comfortable in continuing. Small groups of Guyanese are not taking this ugly state of affairs sitting down.

APNU/AFC’s dismissed election petition: CCJ opens arguments today in appeals filed by VP Jagdeo, Nandlall: Guyana Times  

The Trinidad-based Caribbean Court of Justice (CCJ) will commence hearing arguments at 10:00h today in Vice President Bharrat Jagdeo and Attorney General Anil Nandlall’s appeals against a decision of the Court of Appeal of Guyana in which it held that it had jurisdiction to hear an election petition dismissed for improper service. During a case management conference in May, the panel of CCJ Judges had committed to hearing the case expeditiously, with Justice Jacob Wit stating, “We really want to hear this case before recess starts….”

Analysis- Diversity & Inclusion – Guyana’s Local Content Law: An Opportunity to Pursue Equity Governance and a Nationalist Agenda: Demerara Waves

Through this series of articles, we set out on a journey with the deafening drums of jingoism beating in our ears. The lyrics of local content justification combines with a melody that is irresistible. A nationalist agenda is a glorious thing when harnessed to address pressing national issues. One pressing issue in Guyana and across the world, is diversity, inclusion, and a sense of belonging within spaces diverse peoples share. Feelings of exclusion are the seeds of growing conflict in Guyana and abroad. 

Centre for Local Business Development-Guyana posted: Halliburton Guyana has published an Expression of Interest for the supply of Barrel of 46 grade hydraulic Mineral Oil 208L.

Deadline for submission is August 2, 2022. #CentreGuyana #GreaterGuyanaInitiative #HalliburtonGuyana

Centre for Local Business Development-Guyana posted: UPDATE: An extension has been given on the three recent RFI from ExxonMobil Guyana for the Construction of an Offshore Pipeline. The new date for submission is July 20, 2022. Kindly visit centreguyana.com/opportunities/ for the full details. #CentreGuyana #GreaterGuyanaInitiative #ExxonMobilGuyana #ExxonMobil #EngeryLivesHere

Centre for Local Business Development-Guyana posted: The Centre for Local Business Development is coming to Essequibo! The Centre will be in Anna Regina on Friday, July 29, to deliver its Introduction to Oil and Gas and Gas to Energy courses. These courses will help businesses and individuals learn more one how the industry works. This session will be held at the New Jaigobin Hotel from 10:00am-1:00pm. Registration begins at 9:30am. To RSVP, email cecil_maxwell@dai.com or call 608-5256 or 600-6077 today. All trainings are free to Guyanese. #CentreGuyana #GreaterGuyanaInitiative #Essequibo #EssequiboOutreach #Outreach2022

US gas production to surpass record 100 Bcfd by year-end, more growth expected in 2023 – Rystad Energy | OilNOW

US assisting Guyana to enforce financial crime laws; Guyana to join global Financial Intelligence network – Demerara Waves Online News- Guyana

Guyana building capacity to dismantle criminal enterprises, will soon become a member of Egmont group – Caribbean News Global

Sod soon to be turned for 150+ room AC Marriott, Sheraton hotels – Pres Ali – Guyana Times

US$50M Royal International Hotel & Mall under construction – Guyana Times

US$45M Liliendaal hotel to help meet accommodation demand – News Room Guyana

US$45M Pasha Global/Blue Bridge Hotel to come on stream by 2024 – Guyana Times

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