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Oil & Gas

Ghana to help Guyana’s energy sector

Ghana’s President, Nana Akufo-Addo has agreed that his country would help Guyana’s energy sector, Director-General of the Ministry of the Presidency, Joseph Harmon said. Briefing the media after Akufo Addo was conferred with Guyana’s national award, the Order of Excellence by President David Granger, Harmon said the technical assistance cooperation would be provided free of cost. “This is very important ...

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‘No oil blocks investigator contacted me’; probe will prove deals above board – Former Natural Resources Minister

Former Minister of Natural Resources, Robert Persaud on Sunday said no government investigator has questioned him concerning the issuance of oil concessions and he and members of the then People’s Progressive Party Civic (PPPC) administration were not worried about an independent probe. Officials of the State Assets Recovery Agency (SARA) less than one month ago caused quite a stir locally ...

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Occupational safety visits to Guyana offshore drill-ships too costly for Labour Department to conduct

The Labour Department cannot afford the money to inspect oil exploration vessels offshore Guyana to ensure they are complying with the country’s occupational safety and health laws, Labour Department Consultant Francis Carryl said Friday. “When we can afford to go out there, we will go to see exactly what is happening and I doubt whether we can go more than ...

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ExxonMobil to proceed with Liza Phase 2 offshore exploration

IRVING, Texas – ExxonMobil said Friday it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Liza Phase 2 will produce up to 220,000 barrels of oil per day and further capitalize on the significant development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 barrels of oil per day ...

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ExxonMobil makes 13th oil discovery offshore Guyana

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said Thursday it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area, which ExxonMobil expects to become a major ...

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Guyana seeks Islamic bank funding for technical-vocational training for oil sector jobs

Guyana has asked the Islamic Development Bank (IsDB) to finance the training of local persons for the emerging oil and gas sector, even as top officials said foreigners would have to be employed if there are insufficient Guyanese to fill vacancies. “A reverse linkage programme in technical and vocational training with emphasis on addressing the critical needs of our emerging ...

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Oil and gas sector can boost agriculture; fishing will face greatest competition – FAO

The Food and Agriculture Organisation (FAO) does not believe that Guyana’s emerging oil and gas sector will pose a risk to the country’s valuable agricultural sector once systems are put in place to ensure the two sectors co-exist. The FAO’s Assistant Director-General for Latin America and the Caribbean, Dr. Julio Berdegué told a news briefing in Guyana that climate change ...

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Eco (Atlantic) Oil & Gas raises US$17m in anticipation of expanded drilling offshore Guyana

Reproduced from ProActive Investors Eco (Atlantic) Oil & Gas Ltd has raised US$17 milion of new funds to cover its participation in a possible expansion to the exploration drilling campaign offshore Guyana. It is selling 16.1 million shares to new and existing investors at a price of 80 pence per share, only a small discount to Wednesday’s closing price of ...

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World Bank approves US$20m for Guyana to cope with oil and gas risks

Guyana is to receive a US$20 million World Bank loan for its Petroleum Resources Governance and Management Project to prepare the country to deal with several oil and gas risks. The loan was approved on Friday, March 29. “This Project will enhance the transparency, governance, legal, regulatory and institutional frameworks for the oil and gas sector in Guyana,” the Finance ...

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Guyana part of regional study on substituting refined sugar with “plantation white”

Guyana is among four sugar-producing Caribbean Community (CARICOM) member nations that will be the focus of a regional study on the prospects of substituting imported refined sugar with plantation white, the Caribbean Development Bank (CDB) said Tuesday. The Barbados-headquartered financial institution says it is collaborating with CARICOM to gather evidence to decide on the future of sugar in the regional ...

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