Home » Guyana News Updated, August 24, 2022

Guyana News Updated, August 24, 2022

by terrence richard blackman
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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_cGtRSOS7RMqxEkfZNjcSj

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

September 1-3, 2022 Barbados




XXXI La Jolla Energy Conference

September 28-29, 2022




Guyana Basins Summit

October 4-6, 2022


Guyana cashing in on surging oil prices, pushes growth of economy – News Room Guyana


President Ali calls Guyanese FPSO workers ‘trailblazers’: OilNOWNews RoomDPI   

President Dr Irfaan Ali told the Guyanese crew on board the Liza Unity that they are among the “trailblazers” responsible for setting the mark in the 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”. The Head of State made this assertion today while addressing the crew on board the floating production, storage, and offloading (FPSO) vessel at ExxonMobil’s Stabroek block.


President Ali, senior gov’t team tour the Liza Unity FPSO: Guyana Chronicle  

A high-level team compromising President Irfaan Ali, Natural Resources Minister, Vickram Bharrat, and Projects Director at the President’s office, Marcia Nadir-Sharma, were given a guided tour of the Liza Unity floating production, storage and offloading (FPSO) vessel on Tuesday. President Ali engaged workers, including Guyanese staff onboard the vessel. President of ExxonMobil Guyana, Alistair Routledge was also among the visiting team to the FPSO. (Office of the President photos)


New Guyana heliport to slash offshore flight time in half, at 70% completion: OilNOW  

With almost 70% of its building structures completed, the new heliport at Lusignan, East Coast Demerara, is expected to significantly reduce the flight time for operators heading offshore Guyana. The brainchild of Orinduik Development Inc., the facility is expected to be fully operational by the start of 2023. The heliport sits on 48-acres of prime land adjacent to the Demerara channel with lush mangroves separating the two.


Guyana’s oil production reached all-time high of 386,000 bpd at end of July: OilNOW

Oil production offshore Guyana exceeded 386,000 barrels a day (bpd) in July, marking the highest production recorded in a day since first oil. This data is publicly available via the Petroleum Management Program, an online portal available since early 2021 that makes basic production information available to the public. July’s peak output of approximately 386,540 barrels topped the prior record of approximately 365,300 bpd which was observed on June 3.

Columnists: Dr. Terrence Blackman, PhD and Utamu Bell – Transforming Guyana episode III education and the oil windfall:OilNOW

Episode III of Transforming Guyana, The Guyana Business Journal and Caribbean Policy Consortium Webinar Series, examined how Guyana can leverage oil and gas revenues to produce a world-class twenty-first-century education system at all levels with a focus on broad coverage of the country and with strong links to the best institutions of higher learning abroad while fostering local skills in key local content areas. 


Guyana needs 10 FPSOs; renegotiation would kill the momentum – Dr. Jagdeo: OilNOW

Guyana’s Vice President Dr. Bharrat Jagdeo said on Friday that Guyana needs 10 oil-producing vessels to keep the economic momentum for government’s development agenda. He made the comment in defense of the incentives given to the Stabroek Block partners – ExxonMobil, Hess and CNOOC – to aggressively develop the resources at the prolific acreage. The Stabroek Block Production Sharing Agreement (PSA) was signed in 2016 by the previous administration.

Better contract will not increase Guyana’s share without robust auditing, monitoring of oil companies’ expenses – Norton: Kaieteur News

Opposition Leader, Aubrey Norton is of the firm view that a new Production Sharing Agreement (PSA) does not mean Guyana’s share of wealth from the oil and gas resources will be increased, as this will not barricade multinational corporations such as ExxonMobil from withdrawing costs from the country’s share. To address this deficiency, Norton explained that robust auditing and monitoring of the companies’ expenses must be instituted.


Jagdeo should not be involved in auction of oil blocks – Opposition: Kaieteur News

 “There should be no oil block auction until Guyanese are confident the process will not be tainted.” This is the clear position of the Opposition regarding the year-end auction of the remaining oil blocks. On Tuesday, during the A Partnership for National Unity + Alliance For Change (APNU+AFC) press conference, Economist Elson Low argued that Vice President Bharrat Jagdeo should play no role in this process as the People’s Progressive Party (PPP’)s mismanagement of the oil and gas industry begins to stack up.


Guyana seeks consultant to conduct geotechnical studies for US$83.2M solar farm project: OilNOW

With funds from its partnership with Norway established to conserve its forest cover, Guyana has indicated its interest to apply part of the proceeds towards consulting services to oversee a major solar farm project. Specifically, the executing agency, being Guyana Power and Light Inc. (GPL), said it is seeking to hire a consulting firm with experience in civil engineering site investigations for ground-mounted utility-scale solar photovoltaic farms.


Three of Brazil’s oil refineries, associated assets up for sale: OilNOW

Brazil’s state-owned Petrobras has kickstarted the non-binding phase in its bid to sell three of its refineries and associated logistical assets. Petrobras announced on Monday that it began notifying potential buyers that they have been approved to participate and submit non-binding proposals in the sale process for the assets including three refineries: Refinaria Abreu e Lima (RNEST); Refinaria Presidente Getulio Vargas (REPAR); and Refinaria Alberto Pasqualini (REFAP).


APA makes first discovery at Suriname’s Block 53, comes up dry at 58: OilNOW

APA Corporation on Tuesday announced an oil discovery offshore Suriname at Baja-1 in Block 53 and provided an update on recent drilling operations at Dikkop-1 in Block 58. Baja-1 was drilled to a depth of 5,290 meters (17,356 feet) and encountered 34 meters (112 feet) of net oil pay in a single interval within the Campanian. Preliminary fluid and log analysis indicates light oil with a gas-oil ratio (GOR) of 1,600 to 2,200 standard cubic feet per barrel, in good quality reservoir.

ExxonMobil Guyana posted: Access ExxonMobil Guyana is back! In this episode we look at the 2016 Stabroek Block Production Sharing Agreement (PSA), royalties, cost recovery and the system of checks and balances. And can you believe that Guyana could be producing 1.2 million barrels of oil per day by the end of the decade?! Keep watching to hear about the upcoming Caribbean Premier League and be sure to watch until the end to learn about DJ Akelo’s  “coconut farm” and how it relates to the PSA.


Outgoing EU Ambassador hailed for remarkable service to Guyana – Guyana Times


Guyana exports to China total US$720M for 2022; close to US$1B in total trade between 2 countries – Guyana Times


State of Roraima is a lucrative partner in Region’s development – President Ali



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