Head of the Department of Energy (DoE) Mark Bynoe told Berbicians on Friday that they must work to prepare themselves for opportunities that will come from the oil and gas sector, since the country has just scratched the surface.
“We are sitting not just on a gold mine, but we have the lottery ticket and it is up to us when we wish to cash it in,” Bynoe said during an interactive session at the Berbice High School in New Amsterdam. He added that Guyana has only begun to “scratch the surface.” As such, he said, relevant systems and procedures must be put in place so that the entire country can benefit.
“We have factored discovery in excess of five billion recoverable barrel of oil. We also have had a fair amount of associated gas. We expect that by first quarter of 2020, we will start seeing oil being produced for Guyana,” he said, adding that the gas also found, can transform Guyana’s energy sector.
