Guyana Nesw Updates, July 22-24, 2022

US govt invites Ali, Jagdeo to meet with Secretary of State, Congressional leaders – Demerara Waves Online News- Guyana

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

Monday, July 25, 2022

A Conversation with President Irfaan Ali of Guyana

Tuesday July 26, 2022

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

Wednesday July 27, 2022

Food security – the ultimate test of CARICOM’s relevance


Practical steps needed at CARICOM food summit


Major transformational plan unveiled in country with world’s 17th largest oil reserves | OilNOW


Guyana Upstream: A Rystad Energy Industry & Country Benchmarking Update, Guyana – July 22, 2022


Guyana oil revenues to break US$1 billion mark this year; exceed US$7.5 billion by 2030 – Rystad Energy | OilNOW


Guyana Poised To Break $1 Billion In Oil And Gas Revenue This Year |


Brazil, Guyana, Mexico Projects To Offset Declines In Other Areas  | Rigzone


Guyana aiming for major infrastructure overhaul by 2030, as largest building expo launched | OilNOW


Strengthening Guyana’s relationship with the United States  | OilNOW


Three ways the United States can prove it’s invested in its relationship with the Caribbean – Atlantic Council


Builder of Guyana’s oil production vessels looking to fill multiple positions: OilNOW

SBM Offshore, the company building and operating floating production storage and offloading (FPSO) vessels for oil production activities offshore Guyana, is looking to fill multiple positions for its local operations. In a public notice, the company said it is looking to fill a total of nine onshore and ten offshore positions with the closing date for submissions being July 31, 2022. Onshore positions include materials logistics coordinator, personnel logistics coordinator, cost controller, operations intelligence performance optimisation center engineer, buyer (supply chain), HSSE (health, safety, security, and environment) specialist, process engineer, reliability and optimisation engineer, and instrument and controls engineer.


30 contractors already registered on new local content opportunity portal: OilNOW

Guyana’s Local Content Secretariat (LCS) has created a new portal to help streamline opportunities for locals available in the country’s oil and gas industry. The portal carries a similar interface to the Local Content Registry of local companies. According to the Director of the LCS, Martin Pertab, the new portal allows for the publishing of Requests For Information (RFI) and Requestions For Quotations (RFQ) for a host of services relating to the sector.


Avoiding the Perils of the Resource Curse: Recommendations for Improving Guyana’s Local Content Law – Demerara Waves Online News


Govt tables LCDS 2030 in National Assembly with full support from stakeholders – Guyana Times


SBM Offshore completes US$1.75 billion financing for Guyana’s biggest floater: OilNOWKaieteur News   

Builder of Guyana’s floating production, storage and offloading (FPSO) vessels, SBM Offshore, announced Thursday that it completed project financing for the ONE GUYANA vessel to be used for the Yellowtail project. The FPSO project costs US$1.75 billion; SBM Offshore said this was secured by a consortium of 15 international banks through a loan it expects to draw down in a phased manner over the construction period. “The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released,” SBM Offshore said.


News Room: Guyana started producing oil in its prolific Stabroek Block offshore in 2019 and has already earned nearly US $1 billion from its oil sector thus far. By 2030, however, energy researchers believe that the country could be earning significantly more- with oil from the Stabroek Block raking in about US $7.5 billion annually. This is according to Head of Latin America and the Caribbean at Rystad Energy, Schreiner Parker, who spoke at a virtual webinar on Thursday.


News Room: Guyana has ramped up oil production in its prolific Stabroek Block, located about 120 miles offshore. Over the next decade, further developments in the block should commence – with the potential for even more production offshore, if more oil is found. With those oil resources, Schreiner Parker, the Head of Latin America and the Caribbean at energy research company Rystad Energy says that Guyana could be among the top global oil producers by 2035. He said this during a virtual webinar organised by the Guyana Business Journal and Magazine, and the Caribbean Policy Consortium.


Keep pumping the oil – Guyana Times


CGX Energy : and Frontera Energy Announce Transaction for the Corentyne Block That Secures Funding for the Wei-1 Exploration | MarketScreener


Drilling of Wei-1 well to commence in October 2022 – Guyana Times


Guyanese, T&T companies in subsea support joint venture | OilNOW


Can Guyana partially substitute Russian gas? The numbers appear to say so | OilNOW


Guyanese businessman unlocks financing opportunities with launch of new merchant bank: OilNOW

Guyanese businessman and Accountant Floyd Haynes opened the New Hayven Merchant Bank on Thursday at the Marriott Hotel. The Bank’s office is on Church Street in Georgetown. Under the banner ‘Guyanese Roots, Globally Connected’, the new bank will have firsthand knowledge of the country’s culture and socioeconomic realities, paired with global strategies. Reflecting, Haynes said he grew up in poverty and had migrated to the United States to build a successful finance and accounting firm called Haynes Incorporated, which has been a leader, including in providing services to the US State Department.


New merchant bank promises to help small businesses & fund Guyana’s transformation agenda: News RoomDemerara Waves  

Nearly 30 years after the first merchant bank was licenced in Guyana, the New Hayven merchant bank has been launched with the promise to help small businesses secure much-needed finance and to aid the country’s transformation agenda. The licence was granted to the United States (US) based Guyanese, Floyd Haynes, who has served on Guyana’s local content advisory panel and leads the cost recovery audit team for ExxonMobil’s activities in the prolific Stabroek Block.


Over $48B in oil receipts tabled for second quarter: Kaieteur News

Senior Finance Minister Dr. Ashni Singh on Thursday presented notification receipts to the National Assembly of all petroleum revenues paid into the Natural Resource Fund (NRF) during the period April 2022 to June 2022. In the second quarter, the country received $4.3B for royalty paid by ExxonMobil and its partners in the Stabroek Block. That sum was for royalties due in the first quarter of 2022. Also, $21.3B was received for the payment of profit oil earned from the Liza Unity vessel and executed on April 25, 2022. Finally, $22.6B was deposited into the NRF. This was profit oil payments from the Liza Destiny Floating, Production, Storage and Offloading (FPSO) vessel executed on May 3, 2022. In all, the deposits totalled $48.2B.


President Irfaan Ali, Caribbean leadership in a time of crisis and opportunityStabroek News (Columnist) by Dr. Terrence Blackman & David F. Roberts

A Report from the Guyana Investment Seminar, Carlton House, London

The war in Russia and the attendant geopolitical energy issues plaguing Europe and the rest of the world bear directly on the energy and food security of the Caribbean and Latin America. Against this backdrop of global anxiety, the President of the Cooperative Republic of Guyana, the world’s newest petroleum powerhouse, His Excellency Mohamed Irfaan Ali, delivered the keynote address for the Guyana Investment Seminar at the prestigious Carlton House.


Govt. seeking $333M to partner with Hess, Mount Sinai on healthcare initiative: Kaieteur News

While the Government of Guyana is accepting US$32M that would go toward a multi-year national healthcare initiative brought on by oil company, Hess Corporation, together with the New York-based, Mount Sinai Health System, the administration is seeking a $333M supplementary sum for the “provision of additional resources for collaborative initiatives with Mount Sinai International.” On July 8, last, President Irfaan Ali announced the national healthcare initiative in collaboration with the Mount Sinai Health System, an internationally recognised healthcare provider, and Hess Corporation “to improve the quality of, and access to healthcare for the people of Guyana.”


Hotel business booming in world’s fastest growing economy | OilNOW


Building Expo 2022: Six international hotels with more than 1000 rooms on display | Guyanese Online


CH&PA, Republic Bank ink MoU for construction of 500 low-income homes at Leonora – Guyana Times


First of five Starbucks outlets for Amazonia Mall next year – News Room Guyana


Staten Island Cricket Club Celebrates Its 150th Anniversary – The New York Times


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