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Oil & Gas

Guyana, ExxonMobil about to ink Payara well approval; hefty fines for flaring, dumping untreated water

Guyana is on the verge of signing an agreement with ExxonMobil for its Payara Development Plan that would provide for hefty fines for flaring and the dumping of untreated water back into the sea, Minister of Natural Resources Vickram Bharrat said Friday. He told News-Talk Radio Guyana 103.1 FM/Demerara Waves Online News that the actual fines were still under discussion ...

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ExxonMobil makes 18th oil discovery offshore Guyana

ExxonMobil has made its 18th discovery offshore Guyana at the Redtail-1 well which will add to the previously announced estimated recoverable resource of more than 8 billion oil-equivalent barrels on the Stabroek Block, a development that has been welcomed by the Guyana government. “Our Stabroek Block exploration program continues to identify high-quality reservoirs in close proximity to previous discoveries, establishing ...

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Former Finance Minister Greenidge, former T&T Energy Minister on President’s Local Content Panel

President Mohamed Irfaan Ali on Thursday announced key appointments to Guyana’s Local Content Panel, which is expected to conduct expansive consultation and review and devise recommendations that will inform the country’s Local Content Policy. “I strongly believe that Guyanese must play an integral role and benefit from the fortunes of the sector,” President Ali was quoted as saying in an ...

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Guyana puts a “hold” on bidding process for crude lifting

Guyana has put a “hold” on the international bidding process for oil companies to lift and sell its share of crude oil sales from one of ExxonMobil’s several oil fields offshore the north-east coast of South America, Vice President Bharrat Jagdeo announced Friday. He said the now one-week-old administration, which was sworn in five months after a disputed general election, ...

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Guyana pushing ExxonMobil for cheap natural gas-generated electricity, higher pay for Guyanese

The Guyana government plans to open negotiations with United States (US) oil giant ExxonMobil to purchase natural gas to push industrialisation and provide cheap electricity to the nation as well as entrench local content requirements to ensure Guyanese are not paid lower salaries than in other countries, Vice President Bharrat Jagdeo told a news conference on Friday. Claiming that the ...

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Guyana asks Canada for help to review Payara oil field project

Guyana has asked Canada for help in reviewing the Payara oil field project before government approves the development plan to allow for ExxonMobil to issue its Final Investment Decision (FID), President Irfaan Ali said Tuesday. “We are in the process of engaging an international expert to do that review on the work that has been done so far,” he said. ...

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34 companies submit expressions of interest to market Guyana’s crude oil

Thirty-four companies on Tuesday submitted expressions of interest (EOIs) to sell Guyana’s oil exports over a period of 12 months. The EOIs were opened by the National Procurement and Tender Administration Board. Already, the Ministry of the Presidency’s Department of Energy has said the company that wins the bid to market Guyana’s crude will not enjoy an automatic right of ...

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