The Guyana government is expected to invite bids this year for the monitoring of daily oil production data from ExxonMobil’s Stabroek block projects.
Vice President Bharrat Jagdeo, during his Jan. 25 press conference, told reporters that funds were allocated for this in Guyana’s 2024 national budget.
“We have resources, I think there is over US$7 million remaining from that US$20 million [World Bank] loan facility,” he said.
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The US$20 million loan was first granted to Guyana in March 2019 to support the enhancement of its legal and institutional frameworks and the strengthening of the capacity of key institutions to manage the oil and gas sector.
As of now, Guyana relies on oil production reports delivered by Exxon, which details daily output from its Stabroek block projects. Looking ahead, Exxon plans to augment its offshore operations monitoring capabilities with a fiber optic cable. This will be managed by an operations command centre, currently in development at Ogle, East Coast Demerara.
The Guyana National Bureau of Standards (GNBS) also monitors measurements on the floating production, storage and offloading (FPSO) units producing oil offshore. This relates to the accuracy of flow meters, tank gauging, sampling and testing of crude.
