Guyana Oil and Gas News

Guyana and Trinidad and Tobago yesterday inked a long-awaited Memoran-dum of Understanding (MoU) on Energy Sector Cooperation with the leaders of both countries assuring that there is no need to fear any “takeover” of the energy sector by either side.

Although it has a working economic relationship with Venezuela, the government of Trinidad and Tobago fully supports Guyana in the border controversy with that country, Prime Minister of T&T Dr.

Guyana yesterday signed a historic first loan for US$20m with the Islamic Development Bank (IsDB) in Jeddah, Saudi Arabia and Finance Minister Winston Jordan played up the country’s prospects in light of the looming oil and gas economy.

The Co-operative Republic of Guyana and the Republic of Trinidad and Tobago (hereinafter referred to individually as “the Party” and collectively as “the Parties”); CONSIDERING the commitment of both governments to continue the development of cooperation mechanisms to foster the creation of an environment conducive to energy integration on the basis of the principles of reciprocity, solidarity and respect for sovereignty; RECOGNIZING that the development of the energy sector contributes significantly to the strengthening of economic and social development while improving the quality of life of the citizens of both Parties; The Parties have reached the following understanding: Article 1 Objective This Memorandum of Understanding on Energy Cooperation (hereinafter referred to as MOU) establishes the process through which the Parties agree to work with each other in the development of the energy and energy related sectors of the Parties with the aim of developing and promoting joint projects throughout the hydrocarbon value chain in accordance with the provisions hereof and without prejudice to their respective national legal systems.

Guyana and Trinidad today signed a Memorandum of Understanding on Energy Sector Cooperation with the leaders of both countries, President David Granger and Prime Minister of Trinidad and Tobago Dr.

(TRINIDAD EXPRESS) Former Director of Energy Industries at Industrial, Jim Catterson, says closure of the Petrotrin refinery makes no economic sense.

As the countdown to first oil begins, more local companies are partnering with experienced foreign companies to provide services; the most recent being a joint venture between Farfan and Mendes (F&M), Totaltec and ProCom, to form the Jaguar Oil Field Services Guyana Inc.

The Ministry of Natural Resources on Friday defended its decision-making on ExxonMobil’s Liza Phase 1 project.

As ExxonMobil prepares for the arrival of its second exploration vessel, the Noble Tom Madden, Minister of State Joseph Harmon lobbied a visiting team of executives from the company to invest in the restoration of Georgetown.

With the country’s limited capacity to audit pre-contract costs for oil recovery, Head of the Department of Energy, Dr Mark Bynoe, says that an international firm will be hired to aid both the Guyana Revenue Authority (GRA) and the state audit office to discharge their obligations.

The passage of Local Content Legislation and adoption of a Local Content Policy to guide the development of local businesses in the Oil and Gas Industry were among several recommendations made by the Georgetown Chamber of Commerce and Industry (GCCI) for the 2019 national budget.

Three weeks ago, Trinidad and Venezuela reached an agreement on the supply of gas from the latter’s Dragon Field through the creation of a 17km undersea pipeline that will link it to the National Gas Company of Trinidad’s offshore Hibiscus Platform.

Introduction Today’s column starts with a wrap-up of the discussion on intergenerational equity.

President David Granger has said the proposed disbursement of cash transfers from oil revenues would not be discussed at Cabinet until recommendations are made on the issue by the new Department of Energy.

With the pace of progress towards preparations for oil and gas recovery accelerating, heightened emphasis is being placed on equipping Guyanese with aspects of the training necessary for them to be part of the historic experience.

Overview With the fast approaching date for ‘first oil”, our local content policy, still to be announced, is urgently required.

Introduction It has been over one month since the Ministry of Finance tabled in the National Assembly a fifty-one page document which it claims presents “preliminary proposals” to stimulate discussion on its plan for managing the flows from petroleum operations following first oil estimated to flow by the end of the first quarter of 2020.

President David Granger says the Memorandum of Understanding on Energy Sector Cooperation to be signed between Guyana and Trinidad and Tobago is not a secret document and he will ask that it be made public.

LONDON,  (Reuters) Total says has exercised option to buy a 25 pct interest in Orinduik exploration block offshore Guyana.

Twenty-four men last evening, graduated from the TOTALTEC Academy with certificates that equip them to join Guyana’s emerging oil and gas industry.