Guyana News Updates, August 30, 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/

UWI IIR-CPC Webinar “Dynamics of Africa-Caribbean Engagement”

Thursday 8th September, 2022, 5:00pm-7:00pm AST

https://sta-uwi-edu.zoom.us/webinar/register/WN_zdhepMryRc-I0_30NqHkng

Transforming Guyana, Episode IV: Guyana’s emergence as a Petrostate and implications for the Venezuela-Essequibo controversy – Caribbean Policy Consortium & Guyana Business Journal

Wednesday, September 14, 2022

https://hopin.com/events/transforming-guyana-episode-iv-not-a-blade-of-grass-oil-s-role-in-the-venezuela-essequibo-controversy-420dff2c-7181-4d3a-a8b0-3d08501dd46b/registration

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

– attached flyer

Caricom agrees to ‘hasten transition’ to renewable energy in region– Dr Wheatley | Virgin Islands News Online

https://www.virginislandsnewsonline.com/en/news/caricom-agrees-to-hasten-transition-to-renewable-energy-in-region-dr-wheatley

In-depth review to be conducted on gas supply agreement submitted by Exxon: Guyana Times,  Evening News – 6:33

…as RFP goes out seeking consultant to advise on gas-to-shore project

An in-depth review will be conducted on the gas supply agreement from oil giant ExxonMobil for the gas-to-shore project, with the Government going out to tender for a consultant to conduct the review and provide legal and commercial advisory services. In a recently published Request for Proposals (RFP), the Natural Resources Ministry invited companies to submit proposals for providing advisory services to the Government for the gas-to-shore project.

NRF Board, Oversight, Investment Committees for oil funds to be sworn in today: Guyana Times

…Major (ret’d) Joe Singh, Ramesh Dookhoo among those to take oaths

The members of the Natural Resource Fund (NRF), the Public Accountability and Oversight Committee and Investment Committee, are slated to be sworn in today before President Dr Irfaan Ali, another important step in the Government’s plans to improve oversight and compliance in managing Guyana’s oil revenues. The swearing in will be done at the Office of the President at Shiv Chanderpaul Drive.

Higher level of accountability, transparency for oil revenues – Department of Public Information, Guyana

Efficient oil wealth management, scrutiny assured with key appointments – News Room Guyana

‘Heavy oil’ at Orinduik Block could be developed with floating production facility – Eco: OilNOW

Eco (Atlantic) Oil & Gas says it remains optimistic about the development potential of the Jethro-1 heavy oil discovery made in 2019 at the Orinduik Block offshore Guyana. The company plans to provide further information on plans and timing as its assessments progress. The Orinduik Block partners are revisiting the commercial potential of the discovery, due to sustained oil prices observed in 2022.

CGX says US$21.8M already spent on Berbice Deepwater Port; pushing for 2023 completion: OilNOW

CGX Energy Inc. has expended some US$21.8 million to complete a substantial portion of its massive Berbice Deepwater Port, the company said in a recent status update. Thus far, CGX has completed 40,000 square meters quayside laydown yard, the rip rap flood protection for the Port and its access bridge along with the needed water and electrical connections. And in keeping with previous reports of an expected delay due to “certain factors”, CGX said it is pushing for the Port’s completion by 2023 instead of Q4, 2022, as originally envisioned.

Govt. can influence Exxon, other oil companies’ procurement strategy: Kaieteur News

– can easily address late payments, unbundling of contracts –T&T Local Content Expert

While Guyana has armed itself with a robust Local Content Legislation, it is becoming quite evident that authorities are experiencing teething problems as they seek to implement the law which demands the prioritised use of local goods and services by oil companies. Two of the main challenges thus far pertain to late payments for small and medium-sized companies and the bundling of contracts.

Natural Resources Ministry has authority to do real-time monitoring of costs: Kaieteur News

– several opportunities are at its disposal – Chartered Accountant, Chris Ram

While it is true that the Guyana Revenue Authority (GRA) is empowered with the accounting systems to do real-time tracking of the declared costs for all imports by ExxonMobil Corporation’s affiliated companies, its sub-contractors and its joint venture partners to support their multibillion-dollar operations here, that is only one part of the equation of monitoring costs. According to Chartered Accountant, Christopher Ram, the Minister of Natural Resources, Vickram Bharrat has the authority and the opportunity to review costs at several stages in the process beginning with the detailed Annual Work Programme and Budget to be supplied to him no later than December 1 of each preceding year.

GOGEC President attends ONS 2022: News Room  

See the full statement from the Guyana Oil and Gas Energy Chamber below:

ONS 2022 is a leading offshore and gas industry trade fair and will be held from the 29th of August to the 1st of September at Stavanger Forum. The previous edition welcomed over 68 000 international trade visitors and more than 1200 exhibiting companies. President of the Guyana Oil and Gas Energy Chamber – GOGEC Mr. Manniram Prashad is currently attending ONS this week in Stavanger, Norway. ONS+ brings some of the hottest topics from the conference arenas downtown and aims to create a social and interesting arena for a broad energy industry.

No bundling of services, says Guyana’s local content body | Local Business | trinidadexpress.com

https://trinidadexpress.com/business/local/no-bundling-of-services-says-guyana-s-local-content-body/article_11239484-28be-11ed-812a-c758a99d2db7.html

Venezuela’s latest tactic in its waiting game with Guyana, pt. 1 | OilNOW

Restoring Chevron operations in Venezuela depends on U.S. -minister | Reuters

https://www.reuters.com/world/americas/restoring-chevron-operations-venezuela-depends-us-minister-2022-08-30/

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