Anthony Brash, Well Services Petroleum Company managing director, talks to TOGY about challenges associated with the fall in oil prices and regional aspirations.…
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.
Seatrium has been awarded a contract for yet another FPSO vessel destined for Guyana’s Stabroek block.
READ MORESeatrium has secured topside integration work for the Guyana-bound FPSO Errea Wittu.
READ MORERussell Boodoo of TOSL Engineering talks about the company’s role in supporting Trinidad's energy transition.
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 MORERonald Walcott, BMobile CEO, talks to TOGY about technological innovations in Trinidad and Tobago that complement the hydrocarbons industry and plans to achieve 100%…
READ MOREFranklin Khan, minister of energy and energy industries, talks to TOGY about the variables that contributed to the ongoing gas curtailments and the recently sanctioned…
READ MOREVernon Paltoo, National Energy Corporation of Trinidad and Tobago Limited (National Energy) president, talks to TOGY about the company’s future objectives and…
READ MORESuper-major ExxonMobil said on Tuesday that it had discovered oil in the Payara-2 well drilled in Guyana’s offshore Stabroek block.
The well encountered about 18…
READ MORENicholas R. Mike, Lennox Petroleum Services COO, talks to TOGY about competitive labour pricing in Trinidad and Tobago and the company’s current operations.…
READ MOREEugene Tiah, executive chairman of Massy Energy & Industrial Gases, talks to TOGY about the schedule for completing the Caribbean Gas Chemical plant and issues…
READ MOREUS oil company ExxonMobil, Hess Corporation and Norwegian Statoil, have signed a production sharing contract with the National Oil Company of Suriname, for Deepwater…
READ MOREChristian Laughlin, special projects manager at International Shipping, and Marcus Best, the company’s director of projects in Trinidad and Tobago, talk to TOGY about…
READ MORESBM Offshore will be constructing, installing and operating the floating production, storage and offloading vessel for ExxonMobil’s Liza development offshore Guyana,…
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