Guyana Oil and Gas News

Dear Editor, I read with astonishment and disbelief that Conservation International (CI) Guyana had returned a US$10 million grant to ExxonMobil.

Even as speculation had become rife that India’s oil supply challenges arising primarily out of an idiosyncratic production posture on the part of the Organization of Petroleum Exporting Countries (OPEC) might have been eased somewhat by the prospect of a long-term oil supply deal with Guyana, a media report published on Monday by the media group Caribbean News Global (CNG) says that Guyana has walked aside from such a deal.

The government has extended the deadline for submission of Expressions of Interest for Gas Related Investments here by two weeks to facilitate additional inquiries garnered from the recent Offshore Technology Conference (OTC) in Houston, Texas.

ExxonMobil Guyana yesterday said that it and its contractors spend $19b here for the first half of 2021 making it a total of $96.4b since 2015.

Introduction This week’s column wraps-up my assessment of Terry Etam’s book, which I began last week.

ExxonMobil Corporation has delayed a drilling decision for a second well in the Kaieteur Block, offshore Guyana, in order to do additional data analysis.

Conservation International Guyana (CI-G) has withdrawn from a US$10 million partnership agreement with ExxonMobil that was aimed at the advancement of a sustainable economy through investments in education, research, sustainable management and preservation of the country’s ecosystem.

The Guyana National Bureau of Standards (GNBS) has defended its decision to use the American Petroleum Institute’s (API) standards, protocols, guidelines and recommended practices as its benchmark implementations for the oil and gas sector here saying they offer numerous benefits.

There will be a continuing global demand for oil at least for the next 20 years and exploration in the Guyana-Suriname and other developing basins will be essential to meeting the supply gap this demand is likely to create.

Showcasing Guyana’s oil and gas services potential at last week’s Offshore Technology Conference in the US, TriStar Inc which plans to build a US multimillion dollar shore base in Region three, has vowed to bring oil and gas services here from other countries.

Introduction Today’s column continues with my presentation of the previously announced series of columns, which introduces three publications that, as I indicated earlier, have had a profound impact on both my understanding of, and insights into today’s highly volatile dynamic in unfolding global energy markets.

While the government is looking to swiftly develop Guyana’s oil and gas sector, Minister of Foreign Affairs Hugh Todd yesterday assured that environmental protection will be a key part of its policy framework.

Vice President Bharrat Jagdeo yesterday reiterated at the Offshore Technology Conference (OTC) in Houston, USA that the government supports the swift development of the local oil and gas sector as a means of earning as much as possible while global realities still allow for the use of fossil fuels.

The Guyana Shore Base Inc (GYSBI) is seeking Inter-American Development Bank (IDB) financing to expand its Houston facility to potentially provide support for up to five floating production storage and offloading (FPSO) units, among other upgrades.

The Guyana National Bureau of Standards (GNBS), through its Oil and Gas Department, has been monitoring the transfer of Guyana’s crude from the Liza Destiny FPSO oil platform to oil tankers.

ExxonMobil’s local affiliate, Esso Exploration and Production Guyana Limited (EEPGL), has submitted an application for environmental authorisation for a 12-well Exploration and Appraisal (E&A) Drilling Programme in the Canje Block, offshore Guyana.

Introduction This week’s column wraps up my consideration of the US Energy Information Administration, EIA’s, International Energy Outlook 2019 with projections to 2050.

The hull for the Prosperity Floating Production Storage and Offloading (FPSO) unit is now moored next to the Liza Unity at the Keppel yard in Singapore as SBM Offshore prepares to commence with the next phase of construction.

Oceaneering International on Tuesday disclosed that ExxonMobil’s local affiliate, Esso Exploration and Production Guyana Limited (EEPGL), has awarded the company a contract to conduct two surveys offshore Guyana.

The government has confirmed that a payment of over US$79 million was received into the Natural Resources Fund (NRF) account for Guyana’s seventh oil lift.