Neil Bujun, managing director of Asco in Trinidad, talks to TOGY about logistics issues in Trinidad and Tobago, how to create efficiencies in the domestic sector,…
READ MOREGuyana's Energy Industry
in figures
Hydrocarbons reserves:10 billion boe
Date of first oil:December 2019
Guyana: The Launch of a New Era
Guyana’s oil and gas industry represents a massive opportunity for the nation to kickstart its economy and diversify its energy mix as the world transitions away from fossil fuels. While the country’s oil and gas potential was traditionally minimal, discoveries following ExxonMobil’s substantial find in the offshore Stabroek block in 2015 have put the country on the investment map. Since then, the country has pursued exploration activities and considerably raised its proven reserves, further underlining the country’s nascent potential.
To meet rising production and protect the South American country’s interests in its resources, the Ministry of the Presidency established the Department of Energy in August 2018 to oversee handing PSCs and enforce regulations in the development of the hydrocarbons industry. The World Bank and International Monetary Fund have provided strong support for Guyana to establish clear policies and mechanisms to transfer knowhow to local entities and ensure sustainable growth.
The country plans to use funds gained through oil and gas sales to update its power generation sector and move away from reliance on bunker fuel and diesel, build associated infrastructure such as pipelines and refineries and foster a sustainable forestry sector based on the country’s heavily forested ecosystem. However, to diversify its economy, the country must first set down a feasible roadmap and policy framework to ensure its rich resources directly benefit the country and lead to maintainable development of industry.
Russell Boodoo of TOSL Engineering talks about the company’s role in supporting Trinidad's energy transition.
READ MORENarvin Salick of Gyrodata Trinidad talks about the company's acquisition by SLB and its newest service offering.
READ MOREAs an established global petrochemicals exporter, Trinidad is well positioned to take the lead as a green commodity producer.
READ MORETechnipFMC has won a contract valued at up to USD 1 billion from ExxonMobil for works on the Whiptail project off Guyana.
READ MORESaipem has received authorisation to proceed on EPCI work for ExxonMobil's Whiptail development offshore Guyana.
READ MOREPetrobras has announced a new oil discovery in the ultra-deepwater Potiguar Basin offshore Brazil.
READ MOREWell Longtail-1 in the Stabroek block offshore Guyana has struck about 78 metres of net oil deposits, operator ExxonMobil announced on Wednesday.
The find, the…
READ MOREExxonMobil has started drilling 17 wells for the first phase of development of the massive Liza discovery offshore Guyana, the super-major announced on Tuesday.
The…
READ MOREJaved Birbal, managing director of Haztec Services Trinidad, talks to TOGY about the company’s presence in Trinidad and Tobago, its plans to move into the Guyanese…
READ MOREDavid Small, an independent senator in Trinidad and Tobago, talks to TOGY about the government’s role in the oil and gas industry, upstream and downstream challenges,…
READ MOREAshley Taylor, president of the Point Lisas Industrial Port Development Corporation (PLIPDECO), talks to TOGY about the domestic port logistics sector, the company’s…
READ MORESuper-major BP is looking to expand in several South American markets as well as Mexico, a company executive told international media on Monday.
Speaking to…
READ MOREJay Park, managing partner of Park Energy Law, talks to TOGY about his work advising oil and gas companies and state players such as Mexico’s Pemex, the best approach…
READ MOREThe IMF has urged Guyana’s energy authorities to rewrite the tax law to ensure the state sees greater crude proceeds in the future, international media reported…
READ MOREBlue Water Shipping will provide logistics services for the Liza project offshore Guyana, the company announced on Wednesday.
ExxonMobil awarded Blue Water,…
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