Guyana Oil and Gas News

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

Guyana, Canadian province signing oil and gas pact

-during visit by large trade mission

The Guyana government and the Canadian province of Newfoundland and Labrador will be signing a technical cooperation agreement on oil and gas in the coming week, when Georgetown will also be hosting a visit by a 50-odd member trade mission from the territory seeking partnerships with local companies to tap the sector.

Canadian province to sign oil and gas MOU with Guyana

The High Commission of Canada and the Province of Newfoundland and Labrador are working with the Government of Guyana through GOINVEST to bring a Canadian oil and gas trade mission of approximately 50 persons from the province’s offshore oil and gas industry here from October 15th – 18th, 2018.

Gaskin urges private sector to ‘shape up’ for oil sector

-cautions against being unprepared

Government is working to put in place all legislative and institutional frameworks necessary for the burgeoning oil and gas sector, according to Business Minister Gaskin, who has cautioned that it is the private sector which is at risk of being ill-prepared for the changing business climate.

The saga of the audit creates more confusion

Every Man, Woman and Child Must Become Oil-Minded (Part 61)

Introduction In an advertisement appearing in the national media yesterday, the Ministry of Natural Resources, on its own behalf and that of the Government of Guyana, invited expressions of interest by Consultants desirous of providing services to the Project Execution Unit, presumably of the Ministry, to “conduct an audit of the Recoverable Contract Costs as called for in the signed Production Sharing Contract(s).” It also requires the successful person or Firm to provide on-the-job training to the staff of the Guyana Revenue Authority (GRA) and the Office of the Auditor General (OAG) on cost recovery auditing, “with a particular focus on value for money.” The advertisement sets out the scope of the consultancy to include: 1.

EPA head vows ‘no compromise’ oil and gas oversight

-oil and gas ESIAs to be reviewed

Pledging unyielding protection of the environment, newly-appointed head of the Environmental Protection Agency (EPA) Dr Vincent Adams says that oversight of the oil and gas sector will be of a high quality and there will be no compromise with companies on environmental standards.

How Offshore Drilling Works

By Berry Dann, Julianna Dietz, and Sarah Ward The Ocean Foundation With 2020 and ‘first oil’ on the horizon the Stabroek Business seeks to provide readers with insights into aspects of the sector and its operations including issues relating to the processes and risks associated with the recovery process.

Guysons certified to service oil and gas industry

-has major deal in works with int’l oilfield firm

Local firms Guysons Oil and Gas Services and Guysons Engineering, were recognised yesterday for having internationally approved quality management systems in place, positioning the companies to be competitive in seeking to service the oil and gas sector.

AG signals interest in auditing Exxon signing bonus

-as Audit Office staff set to undergo oil sector training

In the coming weeks, two Canadian experts will be assisting the Audit Office to build its capacity in preparation for the oil and gas industry, Auditor General Deodat Sharma says.

No verification of Liza-1 US$4.4B cost was done

-GGMC confirms

No verification of the US$4.4 billion development cost for ExxonMobil’s Liza Phase-1 project was done by the Guyana Government or its regulatory agencies as they relied on a technical examination of the plan, which had been submitted by the company and its affiliates before granting a historic production licence.

All before the oil-and-gas jubilee elections

One million for little Sunil’s life?

Sexual misconduct: America and the Third World This humble column hereby lays claim to directing national attention – some two years ago – to the fact that the 2020 General Elections will attract some robust characteristics.

Guyana, T&T ink energy MoU

Granger: `There is no sellout’

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.

Guyana signs historic US$20m loan with IsDB

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.

Memorandum of Understanding on Energy Sector Cooperation between The Co-operative Republic of Guyana and the Republic of Trinidad and Tobago

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.