Wendy Seow, general manager of the La Brea Industrial Development Company (LABIDCO), talks to The Energy Year about how the company is boosting sustainability and…
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 MOREChinese EPC company Bomesc Offshore Engineering Company has signed a contract with Japanese shipbuilding entity MODEC to build FPSO modules for ExxonMobil’s Errea…
READ MORETrinidadian Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister the Hon. Stuart Young talks to The Energy Year about Trinidad and…
READ MORECGX Energy has hit oil at its Wei-1 exploration well offshore Guyana, the Canadian independent announced on Tuesday.
A total of 21.6 metres of net oil pay was found…
READ MORENigel Yip Choy, Caribbean area director for Baker Hughes, talks to The Energy Year about the type of activities taking place in the Trinidadian upstream and the…
READ MOREAnthony Brash, managing director of Well Services Petroleum Company, talks to The Energy Year about the most effective strategy the Trinidadian government could take in…
READ MOREAker Solutions has signed a contract with ExxonMobil to build the subsea umbilical system for the Uaru field development project in Guyana, the Norwegian engineering…
READ MOREShiraz Ahamad, director of Southern Sales and Service Company, talks to The Energy Year about products and services the company offers to the energy industry and how it…
READ MOREMODEC has signed an EPCI contract to build an FPSO bound for ExxonMobil’s offshore Uaru field in Guyana, the Japanese shipbuilding company announced on Monday.
The…
READ MORESBM Offshore has signed a USD 3-billion contract for operations and maintenance works on four of ExxonMobil’s FPSOs in Guyana, the offshore energy engineering company…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.