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.

Exxon seeking more shore based facilities

With projections for the production of 220,000 barrels of oil per day from 2023 and 500,000 by 2025, ExxonMobil yesterday said that the Houston, East Bank Demerara shore base alone will not suffice and has advertised for firms to show their onshore support services capabilities.

Gauging impacts of the 2020 crisis on the oil-producing companies

Introduction Today’s column shifts focus from determining direct impacts on oil production, price, government revenue and their consequential effects on GDP arising from the 2020 general crisis (as I have portrayed this process) on Guyana’s infant oil and gas sector towards gauging impacts, going  forward, on the leading transnational producer grouping in this sector: ExxonMobil and partners. 

The mechanical seal from the Liza Destiny FPSO

FPSO compressor arrives in Germany for inspection

ExxonMobil yesterday confirmed that the third stage flash gas compressor that malfunctioned recently and other key parts from the offshore Liza Destiny Floating Production, Storage and Offloading (FPSO) oil platform have arrived in Germany and are being disassembled for inspection and assessment. 

Vice-President Bharrat Jagdeo

Is the ‘resource curse’ resonating over our oil and gas sector?

More than five years after bursting into the global oil & gas spotlight following the discovery by a consortium led by the US oil giant ExxonMobil of an excess of 8 billion barrels of oil off the country’s coast, the Guyanese populace as a whole still know shockingly little about the industry as a whole or about when or how the country will be impacted by the returns from a sector which we are told will remove the country from the condition of impoverishment in which it has been caught fast for more than half a century.

The Liza Destiny

No provision in Liza-1 Environmental Permit for massive flaring

The Liza-1 Environmental Permit does not include the 14 billion cubic feet flaring allowance that government says ExxonMobil has used to  justify its emissions but makes it clear to the company that there should not be routine flaring and that there should be provision for spares and plant-turn down protocols if there are breakdowns on its production platform (FPSO).

Audit of Exxon pre-contract costs stalled by mix-up

Government has disclosed that a seeming mix-up has stalled the completion of the audit of the pre-contract costs for ExxonMobil,and its partners in the Stabroek Block as the United Kingdom firm hired to undertake the audit submitted its final report without ever providing a draft and they have been written to in order to correct this.  “They were supposed to have three deliverables – an initial report, a draft, and then the final report.

Vice-President Bharrat Jagdeo

Jagdeo: Key studies for gas-to-shore project to be done this year

While finally moving to explain the government’s rationale for the selection of Wales, West Bank Demerara as the site of an ambitious gas-to-shore project, Vice President Bharrat Jagdeo yesterday announced plans for the associated Environmental Impact Assessment (EIA) and other critical studies to be undertaken this year and promised that all details will be made public.

Gov’t says ‘hamstrung’ in penalising Exxon for flaring

With flaring offshore estimated to reach 14 billion cubic feet (cu ft) of gas by the time ExxonMobil expects the problem with its compressor is likely to be resolved – hopefully in April of this year –  government yesterday said that it is “hamstrung” in instituting penalties since the company has argued that it is within the limit allowed by the Environmental Protection Agency (EPA).

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