Guyana Oil and Gas News

All the latest news and commentary on the new Guyana Oil and Gas sector include exploration, drilling, policy, impact and more.

Brassington to head gas-to-shore taskforce

Former Chief Executive Officer of NICIL, Winston Brassington will head government’s Gas-to- Shore Task Force (GSTF); a body that will report on the most viable options for the project, anticipated to start next year, Minister of Natural Resources Vickram Bharrat yesterday said.

Vickram Bharrat

Exxon’s Payara project approved

ExxonMobil has secured approval for its Payara project in the Stabroek Block offshore Guyana and an agreement, which would also cater for stiff fines for flaring violations and a commitment that reservoir water be treated to international standards before dumping, should be signed soon, Minister of Natural Resources Vickram Bharrat has said.

An artist’s impression of the ExxonMobil head office that is to be built at Ogle

Major oil and gas projects moving ahead

With Guyana being described as the “sunshine of oil countries” by one investor, a number of oil and gas projects are forging ahead here despite the contraction of the global economy due to the fallout from the COVID-19 pandemic, and Minister of Natural Resources Vickram Bharrat sees this as indicative of confidence in this country, its governance and economy.

Guyana’s Infant Oil & Gas Sector: Counting the cost of lagging 2020 output

Introduction Last week’s column continued my examination of the likely impact of the 2020 global general crisis on crude oil prices in world markets this year; and, following that, on the price obtained for Guyana’s Liza crude, as reflected in the price received for Government of Guyana, GoG, petroleum lifts, earned through its Production Sharing Agreement, PSA, with ExxonMobil and its partners.

Guyana gets US$46m more in oil money

With an average payment of about US$46 per barrel of oil, Guyana this week received US$46M for its third 1M barrels of oil entitlement and this reflects an increase of more than US$10 dollars per barrel than it received on its last lift.

Alistair Routledge

ExxonMobil balks at revamping 2016 PSA

Underscoring the importance of contract sanctity to investors, ExxonMobil yesterday hinted that it was willing to discuss with government the local content areas it can give more to but drew the line at any renegotiation of the controversial 2016 Production Sharing Agreement (PSA).

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