Guyana is on the brink of unveiling its draft national gas utilization strategy.
This was shared by Vice President Bharrat Jagdeo during a weekly press conference on October 12 where he indicated that public consultations would commence soon.
Jagdeo announced, “We have also received the draft gas utilization strategy, and hopefully, by next week, it will be out in the public domain for consultation.”
After the significant discoveries in the oil-rich Stabroek Block by ExxonMobil which unearthed 17 trillion cubic feet of gas, the government’s attention has now turned towards harnessing natural gas resources.
Full gas potential of Stabroek Block will be tested over next four years | OilNOW
The newfound gas strategy aims to unlock the gas potential of Stabroek Block and the wider Guyana Basin. It is designed to explore the possibility of harnessing these resources for independent projects. The strategy is said to also make provisions for cross-border development with other nations.
Notably, the proximity of the Pluma and Haimara gas fields to the Surinamese border makes it an attractive prospect for development between the two nations.
While jointly developing resources across national borders can be challenging, the new model petroleum agreements in Guyana include a unitization clause. Although not currently applicable to Exxon’s Stabroek Block agreement, this provision provides a framework for collaborative gas development.
