Guyana News Updates, August 25, 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

Oil money is flooding into Guyana. Who will benefit? | Reuters

https://www.reuters.com/world/africa/oil-money-is-flooding-into-guyana-who-will-benefit-2022-08-25/

ExxonMobil conducts several rounds of emergency training for 2022: OilNOWGuyana TimesNCN

…regional response team to arrive for further trainiExxonMobil’s local subsidiary

Esso Exploration and Production Guyana Limited (EEPGL) has launched a two-day emergency response training exercise for its staff, something that the company does and plans to continue doing on a regular basis. The training was done at the Marriott Hotel and saw EEPGL working with The Response Group, a United States company specialising in crisis management. Among the areas that the training will cover are responses to different levels of crisis in EEPGL’s offshore activities, such as oil spills.

Guyanese FPSO workers among “trailblazers” in the industry- Pres. Ali: Guyana StandardNCNNews Room – 24:19  

President, Dr Irfaan Ali on Tuesday lauded the efforts of Guyanese crew on board the Liza Unity Floating, Production, Storage, and Offloading (FPSO) vessel, noting that they are among the “trailblazers” of the nation’s oil and gas industry. He said their jobs come with “a great responsibility; a responsibility to ensure that you do it right, that you learn it quickly and also that you’re able to pass that knowledge on and you’re able to integrate into the team”.

Weekly lifts being recorded as oil production increases in Stabroek Block: Guyana TimesEvening News – 1:14

…production rate now 340,000 barrels per day

With oil production now at 340,000 barrels per day from the Liza Destiny and Liza Unity Floating Production, Storage and Offloading (FPSO) vessels in the Stabroek Block, lifts are happening every four to eight days. This was revealed by ExxonMobil subsidiary Esso Exploration Production Guyana Limited (EEPGL) Public Information Officer Janelle Persaud in response to questions posed by Guyana Times.

Guyana on ‘right track’ accelerating oil and gas development to fund energy transition – Rystad Energy: OilNOW

Norway’s Rystad Energy has lauded Guyana’s efforts to implement the right policies to attract foreign investment that will essentially fund its transition to cleaner, greener energy. In its August Review, Rystad Energy even urged that other Latin American nations use Guyana as “the blueprint” for energy policies aiming to attract foreign investments in the region. Guyana has been attracting major attention since ExxonMobil’s first oil discovery in the massive Stabroek Block in 2015.

Gas-to-Energy power plant must be done by 2024; NGL facility may come later – Jagdeo: OilNOW

Guyana’s Vice President Dr. Bharrat Jagdeo says the Gas-to-Energy power plant has to be in place by 2024, but that the Natural Gas Liquids (NGL) facility may not be completed by then. He said it could come until 2025 because it is “a bit more complex”. “So, what happens is that they will feed the raw gas to the power plant in the first year and then when the NGL facility is completed, then the gas would be dried and then the lean gas would be fed to the power plant and you get the liquids,” Dr. Jagdeo told reporters during a recent media conference in Georgetown. 

Govt. must insulate Guyana from oil and gas risks: Kaieteur News

…even as ExxonMobil takes steps to protect itself

United States oil major, Exxon Mobil is adamant that the company and its partners are taking all the risks associated with the development of Guyana’s lucrative oil and gas sector since it does all the investment and production of the nation’s oil resource. The company has insisted on this explanation as one of the main reasons for its massive take in the problematic 2016 Production Sharing Agreement (PSA).

‘Promissory words not legally enforceable’: Kaieteur News

– Attorney warns Jagdeo on Gas-to-Energy project

The Government of Guyana has been assured by American oil major, ExxonMobil, that it will not walk away from any accidents that arise at a US$1.3 billion gas pipeline that is part of the administration’s Gas-to-Energy (GTE) scheme, geared at slashing electricity costs by 50 percent. Attorney-at-Law and resident of Wales, West Bank Demerara, Elizabeth Deane-Hughes has however warned that while “the implementation of the GTE pipeline project continues with an operator and/or contractor, that continues to vocalize words full of promissory undertaking this may not be legally enforceable.”

Local content high on agenda as Bank of Guyana meets Local Insurance Companies: Kaieteur News

The Bank of Guyana is expected to meet with local insurance companies today in a bid to strengthen local content in that particular area of business. Bank Governor, Gobind Ganga, confirmed the engagement to the Kaieteur News yesterday and explained that the meeting will deal with proposals from the local sector regarding its involvement in local content.  The Governor did not release much information, but he did say that, “They (insurance companies) are proposing a new approach to local content.”

Centre for Local Business Development-Guyana posted: Access ExxonMobil Guyana is back!

In this episode:-

 – 2016 Stabroek Block Production Sharing Agreement (PSA)

 – royalties and cost recovery

 – the system of checks and balances.

 – Caribbean Premier League

 – DJ Akelo’s  “coconut farm” and how it relates to the PSA

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