Introduction This Column touched earlier on what the Model Petroleum Contract describes as a Stability Clause, the objective of which is to provide assurance to international oil companies that they will be protected from any variation in fiscal or economic policies by governments for a period of as much as thirty years.
Kudos, Cabinet Notwithstanding its extreme reluctance to release the contract signed by Natural Resources Minister Raphael Trotman with Esso Exploration and Production (Guyana) Limited and two Joint Partners some eighteen months ago, Cabinet deserves credit for its decision to make the contract public in December.
In Part 23 this column noted that Indonesia which had taken a lead role in the Production Sharing Contract (PSC) had moved to the Gross Sharing Production Sharing Contract.
Indonesia explores new model Indonesia, the country that is credited with giving the petroleum world the petroleum production sharing agreement (PSC) in the nineteen sixties, now seems to be walking away from the model.
Part 22 Oil and the Environment The title of this week’s column is borrowed from a presentation by Annette Arjoon-Martins, Mr.
Part 21 EITI Admission That troublesome confidentiality provision in the law and the Petroleum Agreement has once more attracted attention with the announcement that Guyana is now officially the 53rd candidate country of the Extractive Industries Transparency Initiative (EITI).
Part 19 Disposal of Production Recall that under a production sharing contract, costs are deducted from the value of production to arrive at profit oil to be shared between the contractor and the Government of Guyana in the proportion set out in the contract: Article 11.6.
Trotman and Turbot The good news This column keeps meeting distractions from week to week.
Introduction Today’s column looks at what is called Cost Oil, both in the petroleum industry around the world and in the Petroleum Agreements signed by Guyana with contractors.
Trotman’s new Agreement Today’s column seeks to address an issue which has largely gone under the radar because Mr.
Introduction Much is being made of the world class calibre of the advisers to the Granger Administration and Minister Raphael Trotman as they construct a path to First Oil in 2020.
The column today seeks to demystify the question of taxation and the oil companies.
Part 11 Today we conclude our review of the Petroleum Commission Bill which was begun last week in Part 10.
Introduction The absence of or rather failure to appoint inspectors and a Chief Inspector was highlighted in last week’s column.
Introduction Today we turn our attention to how the country, and more particularly the PPP/C Government and the APNU+AFC Coalition Government have managed the country’s potential and discovered petroleum resource.
In today’s column we conclude our review of the science and technology which goes into the prospecting, exploration, development and production of petroleum products.
Local Content So far, these columns have taken a narrative approach and it was intended that once all the information was placed on the table, some analysis, both critical and policy directed, could be undertaken.
“There are not many places left on earth where you can put together an acreage portfolio like this ….
The second in this series of columns on Oil and gas turns its attention to the legislative and regulatory framework for the exploration and production of oil and gas in Guyana.