Saturday, February 4, 2023

Guyana’s fiscal take on higher end, among leading offshore producers – Rystad Energy

Must Read

OilNOW
OilNOW is an online-based Information and Resource Centre
- ADVERTISEMENT -

Comparing the fiscal regimes of other offshore producers, Guyana’s is on the higher end, says Rystad Energy, an independent energy research and business intelligence company.

In its latest analysis, Rystad found that the government’s take amounts to 59% of total value. In contrast, applying the United States fiscal regime to the Stabroek Block, it would result in a government take of 40%.

Rystad Energy said Nigeria and Brazil align more with Guyana’s fiscal policies, with 58% and 61%, respectively.

Exxon confirms 1.2 million barrels per day capacity for Guyana by 2027 | OilNOW

Additionally, the Norway-based company said the cost of supply is a significant factor in considering the desirability of assets and comparing them to other sources and regions. Helping to transform Guyana into a global heavyweight in offshore production is its competitive breakeven costs.

Rystad Energy said too that Guyana’s offshore oil fields are some of the most competitive supply sources outside of the Middle East and offshore Norway and are cheaper than the US Permian, Russia and many other sources.

Guyana oil revenues to break US$1 billion mark this year; exceed US$7.5 billion by 2030 – Rystad Energy | OilNOW

Guyana, according to Rystad Energy, has therefore entered “the big league” given the quality and quantity of resources in its super basin and the revenues that it will earn as a result of same.

- Advertisement -
spot_img

Latest News

FEED work commences on sixth Stabroek Block project

Front end engineering and design (FEED) work has commenced on the Whiptail development project, ExxonMobil Guyana Project Manager, Anthony...

More Articles Like This