Last Update: 558.05                               Movement: 3.73%                            Current Update: 537.22                         YTD Movement: 4.34% The Lucas Stock Index (LSI) declined 3.73% during the fourth period of trading in May 2019. 

Guyana Petroleum Road Map: Guidepost 5 and the Petroleum Contractors’ Capabilities

Introduction This week’s column considers Guidepost 5 in Guyana’s Road Map for its petroleum sector in the dimension: “getting petroleum resources.” Because the Government of Guyana (GoG) is building its petroleum sector on the foundation of Petroleum Agreements with International Oil Contractors (IOCs), their capability for exploiting deepwater/ultra-deepwater offshore plays (especially in the testing areas of capex, skills and technology) is of paramount importance.

Road Map: Why Guyana’s 13 to 15 billion barrels of oil reserves are on the cards

Introduction Today’s column presents my justification for the “bullish estimate of 13 to 15 billion barrels of high quality oil as Guyana’s reserves potential.” Based on this estimated potential, I have gone further to predict Guyana’s daily rate of production (DROP) at full ramp-up (or operating at maximum/peak output) is likely to be as high as 1.5 to 2.5 million barrels of high quality crude oil per day.