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News Updates, Guyana May 26


Agencies still working on renewal of Exxon’s Liza 1 permit – Min Bharrat:
Guyana Times  

…application for extension of relinquishment also being reviewed

The renewal of oil giant ExxonMobil’s permit for the Liza 1 oil field, the field that has been producing oil since 2019, is still an inter-agency work in progress. This is according to Natural Resources Minister Vickram Bharrat. In a recent interview with the media, Minister Bharrat was asked about the Liza field permit. This is because Exxo’s Liza field permit, which was issued in 2017 and modified last year, expires on May 31, 2022. According to the Minister, renewal is still a work in progress. However, he declined to give a timeline for when this would occur.

 

Guyana’s largest shore base goes 2 years without lost time injuryOilNOW

Guyana Shore Base Inc. (GYSBI) celebrated two years without lost time injuries (LTI), earlier this month. LTI refers to an injury sustained on the job by an employee, which results in the loss of productive work time. Lost time injuries encompass both temporary injuries that keep the employee away from work for a day, as well as permanent disabilities and conditions that prevent the employee from ever returning to the job or performing their regular work tasks. It is one of the key metrics that are tracked in the Quality Health Safety Security and Environment (QHSSE) Programme of a company or organisation to determine its effectiveness.

  

Local Financial analyst Joel Bhagwandin responds to Tom Sanzillo, IEEFA: Guyana Times (Letter to the Editor) by Joel Bhagwandin

Reference is made to a local newspaper article captioned “Every citizen at present owes ExxonMobil $9m – IEEFA Financial Analyst”, published in its May 25th edition. In that article, the author argued that, with the planned development, ExxonMobil will rack up some US$75B, which will drive up the debt burden for Guyana. This view, however, is contextually incorrect and grossly misleading. It is not a case where the Government of Guyana somehow would have to find US$75 billion by 2070 to repay ExxonMobil.

  

Govt. says process to get permits at EPA, other state agencies easier nowKaieteur News

As the integrity of Guyana’s environmental regulator remains under question, the Minister of Natural Resources, Vickram Bharrat has made it clear that the government had to take steps to make the granting of permits easier, to allow the free flow of business and revenue in the country. Bharrat specifically pointed out that this was the case at the Environmental Protection Agency (EPA), the Central Housing and Planning Authority (CH&PA) as well as the regional authorities, such as City Hall.

 

Company hired for EIA on Exxon’s latest project undecided on new marine impact studiesStabroek News  

-scoping meeting told that fishing community has raised concerns

Amidst concerns of low fish catches since the commencement of oil operations offshore Guyana, Acorn International on Monday said it is yet to be decided whether any new marine impact studies will be done for the EIA for the fifth planned offshore project – Uaru. The disclosure was made during a public scoping meeting at the Umana Yana organised by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) as part of the requirements for the Environmental Impact Survey (EIA).

 

The benefits of a small refinery here must not be overlooked but only if economically feasible: Stabroek News(Letter to the Editor) by Tony Vieira

I had read a presentation in the Stabroek News by Dr. Clive Thomas on mini refineries and their place in our economy, and a few months ago, Kaieteur News got a comment from a consultant who had done a feasibility study on whether we should refine or not in our own oil refinery in Guyana for our 1,000,000 barrels of oil per MONTH!! The study was done at a time when Guyana’s total oil production was only estimated at 120,000 barrels a day. The consultant concluded that even though we would have much more oil to refine after further discoveries, it still would not be economical to refine it here.

 

Bharrat tells oil sector long payment periods putting locals at disadvantage:OilNOW

Minister of Natural Resources Vickram Bharrat has called on contractors, sub-contractors and licensees operating in Guyana’s oil sector to devise more timely payment plans for local businesses. This news comes on the heels of a slew of complaints that have been lodged with the Local Content Secretariat – an oversight body established under Guyana’s Local Content Act – which claim that the aforementioned parties take as long as twelve months to compensate local businesses for their services.

 

US$260M Demerara bridge to improve traffic flow in oil-driven GuyanaOilNOW

The traffic woes that plagued Guyana’s east and west bank corridors will become a thing of the past as the government signed a US$260 million contract to see the construction of a new and modern structure across the Demerara Harbour. In two years’ time, the contractor – J.V. China Railway Construction Corporation (International) will deliver to Guyana a four-lane high span cable stay bridge structure with a 100-year lifespan.

 

‘Do not renew Liza 1 permit without fixing flaws’, get a better dealKaieteur News

– International experts call for fresh EIA, strengthened protections mechanisms

Esso Exploration and Production Guyana Limited’s (EEPGL)—Exxon Mobil Guyana—Environmental Permit for its Liza I operations, comes up for review next week and as such, stakeholders are calling on the Environmental Protection Agency (EPA) to not just act as a rubber stamp and renew the permit without major reforms to the deal between the partners involved. The Liza I Oil field in the Stabroek Block first began pumping oil in December 2019 having found the hydrocarbons in commercial quantities in 2015.

  

ExxonMobil plans to abandon subsea junk on seabed for each oil field developed: Kaieteur News

– claims removing equipment could do more harm than good

Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana says while it is yet to develop a decommissioning programme for its fifth project-Uaru to be submitted for approval by the government, in accordance with the Petroleum Agreement, it plans to abandon a significant amount of junk on Guyana’s seabed at the end of that project. This much can be gleaned from the Project Summary for the planned fifth Exxon Project in Guyana that was submitted to the Environmental Protection Agency as part of the approval process.

 

Judge weighs full trial of Oil Fund law:News Room  

At an emergency hearing held on Wednesday in the case that challenges the lawful passage of the Natural Resource Fund Act, High Court Judge, Navindra Singh, said he was considering the possibility of having a full-blown trial after a “serious allegation” made by the applicants has now put the facts in dispute. During the first hearing of the case on May 13, Justice Singh had said then that the facts of the matter were not in dispute and he went ahead to set timelines for the filing of submissions and replies with oral presentations for September 12.

 

News Room: The characteristic industriousness of Guyanese was hailed by Minister of Natural Resources Vickram Bharrat who said locals lacked neither the commitment and dedication necessary to participate in the evolving oil and gas industry. But notwithstanding, Bharrat said certification for such purposes remains an absolute necessity. To this end, the Minister reminded of the government’s promise to operationalise the Guyana Technical Training College at Port Mourant, Berbice. That will come on stream in coming months and training will be conducted to match the pace of progress in the sector while ensuring the participation of Guyanese, Bharrat told a consultation at Duke Lodge, Georgetown on Tuesday.

 

Centre for Local Business Development-Guyana posted: WATCH NOW I Meet Dr. Natasha Gaskin-Peters, the Director of the Centre for Local Business Development. With an academic background in Economics and professional background working in both the public and private sectors, Natasha has spent her career always helping the economy to grow. As the Director, she helps businesses to build up their skills and capacity. As a woman, she hopes that she can inspire other females to truly go after their passions and know that they can do it. #CentreGuyana #GreaterGuyanaInitiative #MeetTheDirector #WomenEmpowerment #WomenLeaders

 

Guyana/Venezuela border controversy: Canada reaffirms support for Guyana during ICJ process – Guyana Times

 

US company Quanten is preferred bidder for Petrotrin refinery – Trinidad Guardian

http://www.guardian.co.tt/business/us-company-quanten-is-preferred-bidder-for-petrotrin-refinery-6.2.1497779.fc617fc907 

 

Trinidad and Tobago, Guyana can help each other grow

 

Gopee-Scoon: Guyana/Trinidad and Tobago MOU can help fix food security issues

 

Transforming Guyana, Episode I

To my Guyanese Friends and Comrades, Happy 56th Independence Day! –My legacy project–smile.

Six years ago, it was a humbling honor and a privilege for me to be a part of the Guyana Independence Golden Jubilee National Symposium Series. The Series facilitated cross-disciplinary discussions on four interrelated questions:

(i) Who are we?

(ii) What has been our journey?

(iii) What can we become?

(iv) How can we get there?

The presenters included writers, policymakers, students, musicians, university professors, civic advocates, and others from the community.

These questions are even more relevant for Guyana today. Therefore, following in the legacy of this event, the Guyana Business Journal (GBJ) and the Caribbean Policy Consortium (CPC), on June 08, 2022, at 10:30 EST, will launch a series of Monthly Webinars entitled “Transforming Guyana.”

The goals:

(i) Bring together experts and prominent voices from Guyana, the diaspora, and around the world to discuss the impacts of Guyana’s oil and gas development;

(ii) Offer a nuanced look at the opportunities and potential pitfalls ahead for Guyana;

(iii) Explores strategies to maximize the positive impacts of the oil revenues on Guyana’s people and her future while mitigating the risks that other countries have faced; and

(iv) Identify the most promising roles the Diaspora can play in this transformation.

In Episode I, we will be joined by:

(a) Mr. Arthur Deakin, Arthur’s expertise spans a wide range of energy segments, including solar, wind, oil, biofuels, biomass, LPG, LNG, energy storage/batteries, hydrogen, hydropower, and more.

(b) Dr. Vibert Cambridge, Professor at Ohio University, School of Media Arts and Studies

(c) Dr. Lear Matthews, Professor, Department of Community and Human Services, State University of New York, Empire State College, and former lecturer at the University of Guyana, Faculty of Social Science, and

(d) Ms. Rosalinda Rasul, Head of the Diaspora and Remigration Unit within the Ministry of Foreign Affairs and International Cooperation to discuss promoting and encouraging a more profound and mutually beneficial relationship between Guyana and the Diaspora in its energy and economic diversification and economic development journey.

Please save the date and time and join us for Season I, Episode I of Transforming Guyana. The Webinar will be live-streamed here.

I will share more live streaming information as we get closer to June 08.

Again, may your Independence Day 2022 reflections be productive ones.

Be well.

Terrence

Guyana News Updates, May 25, 2023

Guyana Energy Conferece (GIPEX) on 10-12 May 2022

By Anthony Bryan

https://www.dropbox.com/s/nlr2zb01mb49f7s/Anthony%20Bryan.mp4?dl=0

 

 

US-CARICOM Trade and Investment Relations Recording and Discussion Paper

By Scott MacDonald

May 19, 2022

https://mailchi.mp/4daa79ea01b3/webinar-2-us-caricom-trade-and-investment-relations-recording-and-discussion-paper?e=3dd2b26749

 

 

Congresswoman Waters Calls on President Biden to Advance Financial Access and Inclusion for Caribbean Nations

U.S. House Committee on Financial Services

May 25, 2022

https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409502

 

 

Int’l Energy Expo 2023 launched with focus on traditional sectors – Guyana Times

February 14-17, 2023

 

 

 

 

‘Modern Guyana’ well underway with US$260M Demerara Crossing leading the transformation – Finance Minister – News Room Guyana

 

FAO says “rapid study”, available data determined low fish catch not as a result of oil production: Kaieteur News

The Food and Agriculture Organization (FAO) used data that is currently available to conclude that the noticeable decline in fish catch was not as a result of the offshore oil operations. Not only that, but the body said that a rapid assessment was conducted to ascertain the situation. The FAO on Monday responded to a letter sent by Environmentalist, Simone Mangal-Joly, in which she requested that the report be released to assure the public of the study’s credibility.

 

Deal finally signed to audit US$9b in expenses claimed by Exxon and partners: Stabroek News

-local consortium undertaking task

Nearly 22 months after it took office, the PPP/C Government yesterday finally signed a deal to audit a whopping US$9b in expenses claimed by ExxonMobil and its partners  which could help to establish whether this country is receiving all of the oil profits it should. Under the maligned 2016 Production Sharing Agreement, up to 75% of each’s year’s oil revenues can be assigned to production costs while the remainder comprises profit oil to be split evenly between Guyana on one hand and ExxonMobil, Hess and CNOOC on the other. If any of the production costs are disallowed by the auditors it could potentially expand profits to this country.

 

Uaru project to have spare parts on hand, flare plan in place to prevent Liza-1 issuesOilNOWNews Room  

ExxonMobil Guyana is looking to put all systems in place to ensure optimal performance for its fifth development. Ahead of environmental authorisation from authorities, the oil giant is taking steps to ensure that issues with flaring do not occur there. Exxon’s in-country Projects Manager Anthony Jackson on Monday disclosed at a public scoping meeting for the project that the company will ensure spares are installed for the compression system aboard the development’s vessel to reduce non-routine flaring.

 

Texas-based firm to conduct impact study on Exxon’s fifth Stabroek Block developmentOilNOW

The Houston Texas-based Acorn International will be conducting the environmental study for ExxonMobil’s fifth development in the Stabroek Block – Uaru. On Monday, ExxonMobil’s local subsidiary, Esso Exploration & Production Guyana Limited (EEPGL), held a public scoping meeting on Uaru at the Umana Yana. There, Exxon’s in-country projects manager Anthony Jackson made the disclosure. Acorn will take over from Environmental Resources Management (ERM) – the company that completed the oil major’s environmental studies for the Liza 1, Liza 2, Payara  and Yellowtail developments.

 

Exxon to submit study on produced water for US$10B Yellowtail Project: OilNOW

According to the provisions of the Petroleum Production Licence (PPL) for the US$10 billion Yellowtail Project, ExxonMobil Guyana is required to conduct an in-depth study on the feasibility of re-injecting produced water. It is expected to do this while ensuring that the base design for the project includes tie-in points and space for produced water injection equipment. The licence specifically notes that within 30 days of the date of Environmental Permit (April 1, 2022), the licensee must submit to the subject Minister and the Environmental Protection Agency for approval, terms of reference, methodology and work plan (including the schedule of activities) for a study detailing the costs, environmental benefits, and feasibility of implementing a system for the re-injection of produced water, save and except in defined unavoidable situations, as the primary disposal method.

 

Saudi Aramco is leading candidate for partnering with Guyana on National Oil Company – Deakin: OilNOW

If Guyana considers the establishment of a National Oil Company (NOC), Americas Market Intelligence (AMI) Analyst, Arthur Deakin, believes that partnering with Middle Eastern oil giant Saudi Aramco offers significant upside, although still presenting some notable risks. In his most recent column published on OilNOW, Deakin spoke about key factors that would need to be addressed in the discussions about setting up a NOC. He pointed out that if a NOC is indeed established, it would likely be joined by a Middle Eastern firm.

 

Column, By Arthur Deakin: The implications of a National Oil Company (NOC) in Guyana: OilNOW

The government of Guyana, which is sitting on 11 billion barrels of oil equivalent, will have a much-anticipated bid round for its remaining untendered oil blocks in the third quarter of 2022. The government is currently deciding whether to use these blocks to create a National Oil Company (NOC) or hold an open bidding process. With a 90% exploration success rate in the Stabroek block, and the quickest offshore development in recent years, international oil companies and investors are closely monitoring the government’s final decision.

 

Gas project will help push micro, small, medium businesses, avert Dutch Disease – GCCI President: OilNOW

New to the global oil-producing scene, Guyana has received endless forewarnings about not falling into the trap of the dreaded ‘Resource Curse’ or ‘Dutch Disease’ – the cause of significant challenges for many oil-rich nations. The government has said it is keen on doing everything in its power to avoid heading down this path and according to the President of the Georgetown Chamber of Commerce and Industry (GCCI) Timothy Tucker, pushing the development of micro, small and medium-sized enterprises (MSMEs) is a key part of this strategy.

 

Economic benefits of gas- to-energy project: Guyana Times (Editorial)

The gas-to-shore project is touted to transform the energy landscape and bring immense benefits to the country, both at the household level and for the business sector. The primary objective of this project is to significantly reduce the country’s energy cost by a minimum of 50 per cent. Of recent though, some observers and commentators alike have vehemently criticised and labelled the project a “white elephant” in the making.

   

Every citizen at present owes ExxonMobil $9M – IEEFA Financial Analyst: Kaieteur News

For every US dollar that Guyana earns per barrel of oil produced in the Stabroek Block, the Oil companies walk away with six dollars. Compounding the situation is the fact that at present, given the developments already undertaken and underway, each citizen of this country owes the oil company some US$44,000. Additionally, at the rate Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana—has envisaged the developments, the ones already identified would see the country repaying ExxonMobil at least US$75B to develop which would mean that the country would be repaying debts on that amount until 2070.

 

Liza 1 Permit expires next week: Kaieteur News

Touting the importance of Guyanese to challenge in the courts, the flagrant violations allegedly being perpetrated by Esso Exploration and Production Guyana Limited (EEPGL)—ExxonMobil Guyana against the people of Guyana, International Lawyer Melinda Janki is of the view that this is necessary in order to send the clear messages that the abuse would not be tolerated any further. This was among the damning conclusions by Janki who during a webinar yesterday pronounced that the much vaunted oil bonanza in Guyana was only for the oil companies and not Guyana and that the country is presently on a path to disaster. This, she said, was not just economically but environmentally and socially.

 

FAO says “rapid study”, available data determined low fish catch not as a result of oil production: Kaieteur News

The Food and Agriculture Organization (FAO) used data that is currently available to conclude that the noticeable decline in fish catch was not as a result of the offshore oil operations. Not only that, but the body said that a rapid assessment was conducted to ascertain the situation. The FAO on Monday responded to a letter sent by Environmentalist, Simone Mangal-Joly, in which she requested that the report be released to assure the public of the study’s credibility.

 

Local companies struggling to get in on oil contracts …owners complain about late payments, bundling of services: Kaieteur News

Minister of Natural Resources, Vickram Bharrat has put oil companies on notice that the Government of Guyana will not tolerate the shortchanging of citizens in their own country after it was brought to the attention of the administration complaints of unfair competition and other issues in the industry. He made these and other remarks on Tuesday as the ministry hosted the first consultation on the Local Content Legislation, passed in December last year.

 

News Room: ExxonMobil hopes to gain environmental approval for oil production at the Uaru field and ahead of that approval, the company says that it intends to install spare parts and pursue other plans that may reduce natural gas flaring at the site. This is according to Anthony Jackson, the in-country projects manager, for Esso Exploration and Production Guyana Limited (EEPGL), ExxonMobil’s local affiliate, who spoke at a public scoping meeting at the Umana Yana on Monday.

 

News Room: Acorn International, a US-based environmental and social risk management consultancy, has been selected to independently study the potential risks of ExxonMobil’s fifth project offshore Guyana, Uaru. This was revealed on Monday, during a public scoping meeting held at the Umana Yana for the Uaru project. This meeting was held ahead of the requisite environmental impact assessment that will be conducted to study the impact the Uaru project may have on the environment. And the announcement comes after Esso Exploration and Production Guyana Limited (EEPGL), ExxonMobil’s local affiliate, used another consultancy, Environmental Resources Management (ERM) to assess the environmental impact of five other projects.

 

News Room: Five months after the passage of the historic local content legislation, the government continues to express frustration with the underhand practices of some foreign companies operating in the local oil and gas sector. In the first implementation consultation on Tuesday since the law was enacted in December 2021, Natural Resources Minister Vickram Bharrat said the government was unhappy because some foreign companies were still short-changing Guyanese.

 

Non-tariff barriers, other matters raised as Pres Ali holds talks with CPSO – Guyana Times

 

Trinidad local entrepreneurs want opportunities in Guyana – Trinidad Guardian

https://www.guardian.co.tt/news/local-entrepreneurs-want-opportunities-in-guyana-6.2.1497373.1f4be1b5d7

 

Guyana won’t shift from ICJ to settle border controversy with Venezuela- – Demerara Waves Online News- Guyana

 

Guyana News Updates, May 24, 2022

 

 

Economic benefits of gas- to-energy project – Guyana Times

 

Gas project will help push micro, small, medium businesses, avert Dutch Disease – GCCI President | OilNOW

 

ExxonMobil pushing ahead with Guyana gas to energy project – Bnamericas

https://www.bnamericas.com/en/news/exxonmobil-pushing-ahead-with-guyana-gas-to-energy-project

 

Studies have not shown oil and gas operations driving impact on fisheries – Exxon Official: OilNOW

ExxonMobil Guyana’s in-country projects manager, Anthony Jackson, said the company is committed to supporting studies on the environmental impacts of its operations, so it can understand if they have any impact on Guyana’s fish stock. He made this comment during a public scoping meeting for the Uaru Development, the fifth project at the Stabroek Block. The session was held on Monday at the Umana Yana in Georgetown.

 

Environmentalist calls on FAO to release study on fish catch: Stabroek News  

Environmentalist Simone Mangal-Joly has written to the Food and Agricultural Organisation (FAO) calling on it to release a study which purports to say that Guyana’s oil and gas industry is not causing the low fish catch being experienced by fishermen here. In a letter yesterday to Julio Berdeague, Assistant Director General of the FAO,  Mangal-Joly cites a May 22, 2022 Demerara Waves article: “Oil industry not responsible for low fish catch – FAO study”  where it was reported that Minister of Agriculture Zulfikar Mustapha had stated that offshore oil and gas activities have not played a role in the decline of the fish catch.

 

Acorn International selected by EEPGL to do environment survey for 5th offshore project: Stabroek News  

-scoping meeting hears

Following concerns over the repeated use of one consultant for the environmental surveys for ExxonMobil’s operations here, a different company was selected for the oil major’s fifth planned offshore project but the controversy is likely to rumble on. Acorn International, which like ExxonMobil is headquartered in Houston, Texas in the US is the company that will take over from Environmental Resources Management (ERM).  At a public scoping meeting at the Umana Yana yesterday for the Uaru project, Acorn stated that it had been selected by project developer, ExxonMobil’s subsidiary, EEPGL and had gotten a no-objection from the Environmental Protection Agency (EPA).

 

The implications of a National Oil Company (NOC) in Guyana | OilNOW

 

Any strategic partner should bear financial burden of setting up national oil company– Int’l AnalystKaieteur News

Guyana must be mindful not to expend unnecessary funds in the development of a national oil company if it is to develop an operating model using a strategic partner. Already, experienced individuals within the local and international oil industry, as well as some financial institutions, have advised Guyana against such a move declaring that financial returns from oil endowments may be best gained from improving the contract that deals with profit sharing between the country and its operating partner.

  

Local Content policy not meant to drive away foreign investors -Natural Resources Minister – News Source Guyana

https://newssourcegy.com/news/local-content-policy-not-meant-to-drive-away-foreign-investors-natural-resources-minister/

 

Govt. gives Exxon leeway in licence to change costs, development plan for US$10B Yellowtail ProjectKaieteur News

It appears that the Government of Guyana has given ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), enough leeway to change as it deems necessary, costs as well as the already approved development plan for the US$10B Yellowtail Project in the Stabroek Block. According to the provisions of the Petroleum Production Licence (PPL) that was awarded on April 1, 2022, “The Licensee may, with the written approval of the Minister, amend the Development Plan with respect to work and expenditure contained in the Development Plan, but the amendment shall not have effect so as to reduce any minimum requirements.”

 

Exxon relies on decade-old data to justify low gas emissions: Kaieteur News

Gas-to-Energy project…

ExxonMobil Guyana has used data from 10 years ago to conclude that its part of the Gas-to-Energy project, that is the onshore and offshore pipelines together with the Natural Gas Liquids (NGL) Plant, will not be a large scale emitter of the dangerous greenhouse gases (GHG) that lead to climate change. This was revealed during a recent consultation at the Umana Yana, in Georgetown, hosted by the oil company and its Consultant, Environmental Resources Management (ERM) that prepared the Environmental Impact Assessment (EIA) for the project.

 

Govt. gives Exxon leeway in licence to change costs, development plan for US$10B Yellowtail Project: Kaieteur News (Repeat)

It appears that the Government of Guyana has given ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), enough leeway to change as it deems necessary, costs as well as the already approved development plan for the US$10B Yellowtail Project in the Stabroek Block. According to the provisions of the Petroleum Production Licence (PPL) that was awarded on April 1, 2022, “The Licensee may, with the written approval of the Minister, amend the Development Plan with respect to work and expenditure contained in the Development Plan, but the amendment shall not have effect so as to reduce any minimum requirements.”

 

Auditing Exxon’s US$9B: Kaieteur News (Editorial) (Repeat)

The accountants and auditors have to know what is feasible in terms of time given the resources at hand. But to audit US$9B in cost recovery expenses representing some three years of activity by Exxon in a matter of four months looks like a real stretch. Auditing one year of such expenses in four months might be doable, but to demand that three years’worth of bills for that amount of money be completed in four months is pushing matters. The question is whether the man in charge of the nation’s oil is not setting up a situation where Guyana is being taken to the cleaners.

  

Repsol preparing to spud Beebei-1 well at Kanuku Block: OilNOW

Repsol, operator of the Kanuku Block offshore Guyana, is preparing to undertake drilling operations at the Beebei-1 prospect. OilNOW understands the well will be spudded around May 25. In a January trading statement, Tullow Oil had said the partners are targeting the Cretaceous light oil play of the Guyana-Suriname Basin. The Noble Regina Allen has been contracted for use in this period. The operation is scheduled to conclude around July 15, 2022, according to notices from Guyana’s Maritime Administration Department (MARAD).

 

TTMA happy with Trinidad and Tobago, Guyana MOU

 

Guyana News Updates, May 23, 2023

Guyana: the world’s fastest growing economy

MENAS London – Wednesday 25 May 2022

https://www.menas.co.uk/civicrm/event/info/?reset=1&id=90

 

 

Int’l Energy Expo 2023 launched with focus on traditional sectors – Guyana Times

February 14-17, 2023

 

 

 

 

 

  

Exxon’s latest discoveries driving ‘massive’ accumulation at Stabroek Block: OilNOW

ExxonMobil’s announcement of three new discoveries at the Stabroek Block offshore Guyana in April is driving a massive accumulation of hydrocarbon resources offshore the South American country. Hess Corporation, a 30% stakeholder in the Stabroek Block, said this latest success reinforces the view that the Guyana resources will continue to grow, delivering significant low-cost, low-carbon barrels. “[The three new discoveries] show how massive this accumulation is” offshore Guyana, said Greg Hill, President and Chief Operating Officer of Hess.

 

Driller with most rigs offshore Guyana gets extension with advancement of Yellowtail: OilNOW

ExxonMobil’s sanctioning of Yellowtail – its biggest project to date offshore Guyana – has seen the extension of four Noble drillships through to 2025. On April 1 this year, the Noble Tom Madden, Noble Sam Croft, Noble Bob Douglas and Noble Don Taylor operating under a Commercial Enabling Agreement (CEA) were awarded 7.4 years of incremental term in connection with the sanctioning of Yellowtail. “Each rig is now contracted to the fourth quarter of 2025,” Noble said.

 

New South American oil star arrived in the year prices collapsed | OilNOW

 

Houston, wider East Bank morphing into major corridor of oil and gas development in Guyana – Bharrat | OilNOW

 

Gas to energy meeting on West Bank reveals pressing need for jobs: Stabroek News  

-residents told `very few’ will come from Exxon

While stating that they welcome development and fully support the planned gas-to-shore project, residents of the lower end of the West Bank of Demerara were on Friday mainly concerned about if jobs would be available and if some of them would be displaced by the planned pipeline but they got no satisfactory answers. On Friday, ExxonMobil and its consultant Environmental Resources Management (ERM) held the final public disclosure meeting to discuss the impact study of the gas to shore project at the Patentia Primary School.

 

Yellowtail questions: Stabroek News (Editorial)

Today at 5 pm at the Umana Yana, a public scoping meeting will be held in relation to the application by ExxonMobil’s subsidiary, EEPGL for the establishment of a fifth offshore oil extraction project at the Uaru site. In notices published across the media as required by the environmental laws of the country, ExxonMobil advised that the Environmental Protection Agency (EPA) has determined that an Environmental Impact Assessment (EIA) is required to be conducted before any decision is made on the project since it “may significantly impact the environment”.

 

Guyana, Trinidad discuss availability of Petrotrin to refine Guyana’s oil – PM Rowley: Guyana Times  

With Guyana receiving growing interest for small refineries here, Trinidad and Tobago has touted the availability of Petrotrin – it’s State-owned refinery that is currently under negotiations for sale or lease – to refine Guyana’s oil. This was revealed by Prime Minister Dr Keith Rowley during a press conference in Port of Spain shortly after returning from a week-long engagement in Guyana for the Agri Investment Forum and Expo that was held from May 19 to 21.

 

Wales Gas-to-Energy project…ExxonMobil’s Gas Leak Management Plan must be included in EIA – Former EPA Head: Kaieteur News

 “How does it make sense that the highest hazardous risk is a leaking pipeline but it is not addressed in the EIA?” This, Former Head of the Environmental Protection Agency (EPA), Dr. Vincent Adams said, is a question that must be answered by the American oil major, ExxonMobil. Dr. Adams, in an invited comment, was responding to a statement made by the Gas-to-Energy Project Manager, Friedrich Krispin, who told Kaieteur News at a recent consultation, that the document will develop and submitted to the EPA, about a year before the project commences.

 

Yellowtail questions: Stabroek News (Editorial)

Today at 5 pm at the Umana Yana, a public scoping meeting will be held in relation to the application by ExxonMobil’s subsidiary, EEPGL for the establishment of a fifth offshore oil extraction project at the Uaru site. In notices published across the media as required by the environmental laws of the country, ExxonMobil advised that the Environmental Protection Agency (EPA) has determined that an Environmental Impact Assessment (EIA) is required to be conducted before any decision is made on the project since it “may significantly impact the environment”.

 

City Chamber welcomes Rowley’s commitment to remove trade barriers: OilNOW

The Georgetown Chamber of Commerce and Industry (GCCI) has endorsed the Government of Guyana’s signing of a Memorandum of Understanding (MoU) with Trinidad and Tobago, following a public commitment to address the twin-island nation’s trade barriers against Guyana. In a press statement released Sunday, the Chamber cited the move as ”a step in the right direction”. The MoU which was inked hours earlier at State House in Georgetown was initially set to target areas such as agriculture, energy and national security.

 

T&T business chamber ready to support more Guyana/ Trinidad cooperation – News Room Guyana

 

No need for Guyana, Trinidad to be at each other’s throats about local content laws – Rowley: OilNOW  

Prime Minister of Trinidad and Tobago, Dr. Keith Rowley said there is no need for his government and Guyana’s to be at each other’s throats about Guyana’s new local content laws. “What the government of Trinidad and Tobago tried to do is not to view it through negative lenses, but to understand what Guyana is trying to do,” Rowley explained. “And from that standpoint, we have not aggressively taken a position to put the Guyanese objective under a litmus test.”

 

Drill campaign at Zanderij-1 offshore Suriname planned for third quarter: OilNOW

Planning is underway for an exploration campaign to be conducted at the Zanderij-1 prospect located at Block 42 offshore Suriname. The well, targeting both Campanian and Santonian aged reservoirs, will be spudded around the third quarter of this year. As barrels build up in Suriname, calls for creation of oil fund will increase – Rystad Energy. “We see the acreage as a potential play extension from the Stabroek Block with similar play types and trap styles,” said President and Chief Operating Officer of Hess Corporation, Greg Hill.

 

New top 10 global oil producer to form in June when BHP, Woodside close merger: OilNOW

Shareholders of the Australian Woodside Petroleum voted to move forward with a merger with the BHP’s Petroleum business, BHP said in a note. Woodside said 98.66% of the votes submitted favoured the merged. “All conditions precedent necessary to implement the Merger that require a positive action or event in order to be satisfied have now been satisfied or waived.” Woodside explained.


Suriname and Guyana: Countries in Transition

 

Indian investors eye new agri ventures in Guyana – News Room Guyana

 

DDL to process fresh cow milk under TOPCO brand for local market in next two years – News Room Guyana