Under Guidepost 6 of Guyana’s Petroleum Road Map, in its dimension for “getting petroleum revenues” I have offered, thus far, three sets of unit cost metrics, which were completed in 2018. These are: 1) Hess Corporation’s ‘Power Energy’ Conference Paper (September 2018) 2) the University of Trinidad and Tobago’s (U of T&T) Modelling Presentation to the Society of Petroleum Engineers Conference, 2018 and 3) Open Oil’s FAST modelling of the Liza Field Development, March 2018. Today’s column introduces to the discussion the “broader global material”, which I had referred to last week. This material has aided my determination of an appropriate unit cost range, to be applied, when estimating Guyana’s projected petroleum revenues. For this reason I spell this material out in some detail in today’s column.
Before introducing that broader global material however, I first offer further observations on the estimation of Guyana’s unit cost, as in the two models referenced above: (U of T&T and Open Oil)…..