The world-renowned American Petroleum Institute (API) will be assisting Guyana in the adoption of good petroleum management standards for the development of the local oil and gas industry.
Towards this end, API signed a memorandum of understanding with the Guyana National Bureau of Standards (GNBS) on Friday, starting a partnership that has been about 2 years in the making.
“We cannot be more excited that our two influential organisations are aligning to advance safety, sustainability and environmental protection in the growing oil and gas industry in Guyana,” Vice President of Standards and Services at API, Alexa Burr, said in a virtual address.
She added, “It’s increasingly important that Guyana meets global energy needs through the use of global industry standards.”
GNBS Executive Director, Ramrattie Khan, explained that the partnership will pave the way for the agency to adopt a list of API standards, as well as access training and capacity building, and other resources depending on the needs of the bureau and the local industry.
Senior Petroleum Coordinator at the Ministry of Natural Resources, Bobby Gossai Jr., said that Guyana has to learn quickly, because the industry has been moving at a rapid pace.
ExxonMobil has made 22 commercial discoveries since 2015, and it has received the government’s permission to develop three fields, which when all operational will produce around 560,000 barrels of oil per day at peak.
The oil major intends to have as many as 10 floating, production, storage and offloading (FPSO) vessels at the Stabroek block.
Meanwhile, other operators are optimistic about finds in other blocks.
Gossai Jr. said the Ministry of Natural Resources engages the GNBS frequently to ensure there are standards that will cater for the development of the upstream and midstream sectors of the oil and gas industry.
API has a record of developing standards for a century. Its website states that it has developed more than 700 standards for environmental safety, efficiency and sustainability.
During the ceremony, Guyana’s standards regulator also launched an electronic portal, to provide easy access to information about the standards it offers.