Guyana News Updates, August 22, 2022

What may the next decade of US-Caribbean energy cooperation bring? – Atlantic Council

Monday, August 29, 2022

UWI SRC-CPC webinar Friday September 2, 2022

US-CARICOM TIFA/TIC Trade and Investment Relations

Register for the webinar at: https://zoom.us/webinar/register/WN_cGtRSOS7RMqxEkfZNjcSjA

AfriCaribbean Trade and Investment Forum 2022 – One People. One Destiny

September 1-3, 2022 Barbados

https://africaribbean-trade-investment-forum-2022.b2match.io/

XXXI La Jolla Energy Conference

September 28-29, 2022

https://iamericas.salsalabs.org/la-jolla-conference-2022-preliminary-agenda?wvpId=e61fc00c-5202-4561-bdf9-9381c4304e10

Guyana Basins Summit

October 4-6, 2022

http://guyanabasinsummit.com/en

High-impact well activity to bounce back after one-year slump – Rystad Energy: OilNOW  

Norway-based Rystad Energy expects a rebound of high-impact drilling after what was described as a “disappointing” 2021 with success rates plunging to record lows… In Guyana, CGX’s wei-1 prospect was branded high-impact by London-based energy intelligence firm, Westwood Global Energy. Drilling will be done by the Maersk Discoverer. The Wei-1 exploration well will be located approximately 14 kilometres northwest of the Kawa-1 exploration well in the Corentyne block, approximately 200 kilometres offshore from Georgetown.

Guyana pushing massive road projects; more than 100,000 new vehicles registered in 5 years: OilNOW

In the past five years, the Inter-American Development Bank (IDB) has found that more than 100,000 new vehicles were registered in Guyana with 1,176 vehicles occurring every month. In one of its recent project documents, the financial institution said this sharp increase in the number of vehicles on the road has resulted in roads becoming congested, giving rise to the need for the new oil producing country to urgently upgrade its road networks to ensure efficiency.

Over 900 people on six rigs supporting safe drilling operations offshore Guyana – Routledge: OilNOW

President of ExxonMobil Guyana, Alistair Routledge, said in a recent interview that there are over 900 highly trained people in total, stationed on the Stena Carron, Stena DrillMax, Noble Bob Douglas, Noble Tom Madden, Noble Don Taylor and Noble Sam Croft, supporting safe drilling operations offshore Guyana. “It’s incredibly important to us that we manage our operations extremely carefully to protect the environment. We recognize this is a beautiful country. The natural resource is not just the oil and gas but what’s in the marine environment, what’s on shore, and we want to protect that and so we take a lot of steps to do that,” Routledge said during a recent interview streamed on social media.

A conversation with President Ali: Guyana Chronicle

“I END on a good note for my friends in Trinidad and Tobago: Whether it is curry chicken or chicken curry, we will have curry.”… Our oil is now marketed through a bidding process whilst Guyana will not invest at this stage in the building of any refinery in or out of Guyana, as we see this as a private sector investment. Therefore, options to refine Guyana’s oil, especially for our regional energy security, can be examined. However, at this point, Guyana’s policy position is not to have government investment in these facilities.”

Radioactive substances’ storage facility: Judge to rule next month on challenge to waiver of impact study granted to Schlumberger: Guyana Times  

Danuta and Vanda Radzik and Raphael Singh, who are residents of Houston, East Bank Demerara (EBD), have filed legal action against the Environmental Protection Agency (EPA) over the waiver of an Environmental Impact Assessment (EIA) granted to Schlumberger Guyana, one of ExxonMobil’s (Guyana) major subcontractors, which operate out of premises located at Lot 1, Area X, Houston. Besides the EPA, these residents, hereinafter referred to as the applicants, have listed the Environmental Protection Board (EBA) and Schlumberger as respondents in the action filed on their behalf by Attorneys-at-Law Siand Dhurjon, Ronald Burch-Smith and Maylene Alleyne.

Auditing Exxon’s US$9 billion in post-contract costsStabroek News (Columnist) Accountability Watch by Anand Goolsarran

A recently released report found that within an area from Texas to Louisiana in the United States, residents could experience “heat index” temperatures above 125 degrees Fahrenheit by 2053… In today’s article, we discuss the auditing of the post-contract costs incurred by ExxonMobil and charged as recoverable costs for the purpose of arriving at profit oil. It will be recalled that 75 percent of such costs in any one month is to be deducted from the value of crude oil produced in that month. The remaining 25 percent is to be shared equally between Exxon and the Government of Guyana.

Jagdeo says oil spill insurance too big for in-country capacity: Kaieteur News

…stakeholders say government must facilitate local involvement

In wake of calls for the oil spill insurance policy for ExxonMobil and partners’ offshore operations being in-country by legal requirement, Vice President Bharrat Jagdeo said that the multi-million US dollar coverage that is currently available for Guyana is beyond what in-house insurers can handle. The Vice President was answering questions about the location of the oil spill policy during a media briefing last Friday when he indicated that Guyanese insurance companies would have to reinsure the large oil spill policy if it were handled here. Jagdeo explained that (for a foreign company) insurance policies exceeding a particular threshold have to come through a local broker.

Oil production data reportedly under guard of EPA Head – sources: Kaieteur News

As Vice President, Bharrat Jagdeo continues to fail on promises to publish monthly oil production reports; this newspaper has been reliably informed that the Executive Director of the Environmental Protection Agency (EPA), Kemraj Parsram has transported all files regarding petroleum production to his office. Sources within the agency explained that the entire cabinet- containing information on ExxonMobil and its partners- was shifted to Parsram’s office recently. Jagdeo promised just over 18 months ago that there is no reason for the data to remain hidden and that he would seek to ensure it becomes available.

‘Insurance coverage crucial during construction of massive gas-to-shore project’— local insurer: Kaieteur News

…as Jagdeo claims ‘too early’

As Esso Exploration and Production Guyana Limited (EEPGL)- commonly referred to as ExxonMobil Guyana- continue daily work in preparation of a US$1.3 billion pipeline to transport natural gas from the Liza Fields in the Stabroek Block to Wales on the West Bank of Demerara, a local insurance firm has underscored the need for a policy to be set up to cover any liabilities that may occur during the construction phase of this massive venture. The company spoke off the record to this newspaper on Saturday during a telephone interview. It was explained, “Everywhere in the world once a project is engaged, what happens is that you have insurance that literally covers the project while it is in the form of being carried out.”

Guyana must get best deal: Guyana Chronicle  

–Vice-President says, fiscal terms still being worked out for oil block auction

WORKING out the right fiscal terms that will ensure Guyana gets the best deal in the sale of the remaining oil blocks, is one of a number of factors that has influenced the Government to delay the oil block auction, which is now slated to happen before the end of the year. The auction of Guyana’s remaining oil blocks had initially been slated to take place in the third quarter of 2022; however, the Government has since pushed back this timeline, and, at a press conference, on Friday, at the Arthur Chung Conference Centre (ACCC), Vice-President, Dr. Bharrat Jagdeo, explained to the media some of the dynamics that led to the delay.

Increase in ICT access tied to liberalisation of telecoms sector – PM – Guyana Times

Ali, Mottley leave T&T, head for Brazil – Trinidad Express

https://trinidadexpress-tto.newsmemory.com/?publink=15d4ba672_13485ba

Guyana, Barbados, Brazil’s Roraima state discuss strengthening ties – Guyana Times

Touchstone’s Cascadura T&T gas project gets greenlight | OilNOW

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