As one of the few major new conventional oil regions discovered this century, Guyana is set to be transformed over the course of the next decade, with the country predicted to emerge as a top per capita producer of oil. Chameleon Events is set to stage the Guyana Oil & Gas Economic Summit to be held in London July 3 and 4, featuring top Guyanese officials, including Director of the Department of Energy, Dr. Mark Bynoe, and industry representatives, such as Jerome Kelly, Exploration Manager South America, Tullow Oil, the company currently drilling the first wildcat outside the Stabroek Block.
Discoveries in Guyana mark an important find for the global industry, with their medium-light crude filling a hole in the global crude oil market and sparking an increased interest in oil from majors who have increasingly focused on gas and shale in recent years. With estimated production costs of approximately $46 per barrel sitting well below current oil prices and predicted annual gross oil revenues of $13 billion by 2025, Guyana is also proving increasingly competitive.
The Guyana Oil & Gas Economic Summit will serve as a platform to navigate this developing market, bringing together oil and gas operators, regulators, investors, prime contractors, and service companies, to advance the establishment of Guyana’s oil and gas sector, and to strategize for how Guyana can best harness the economic benefits of an established oil and gas industry.
On July 3, session one, which focuses on policy and outlook, will evaluate initiatives shaping the direction of the Guyanese oil and gas industry. Discussions will consider government forecasts, regulations, strategic partnerships, and building a domestic and global market for Guyanese oil & gas. Guyana’s High Commissioner to the United Kingdom, Frederick Hamley Case, will deliver the feature address and participants will include; Dr. Bynoe, Greg Quinn, British High Commissioner to Guyana, Dr Daniel Wilde, Economic Adviser, Natural Resources, Commonwealth Secretariat, Neil Passmore, CEO, Hannam & Partners and Francis Kiernan, Chairman, Abis Energy.
With an increasing number of operators now working in Guyana, session two will focus on initial results and operators’ plans moving forward. Operational challenges, drilling and production costs, operational strategy, recoverable quantities, and predictions moving forward will all be addressed. Participants will include; Jerome Kelly, David Philips, Managing Director Equity Research, HSBC, Schreiner Parker, Vice President Latin America & Caribbean, Rystad Energy and Colin Kinley, Chief Operating Officer, Eco (Atlantic) Oil and Gas which has a 15 percent stake in Guyana’s Orinduik Block.
Session 3 and 4 will focus on infrastructure and supply chain, respectively, with participation from Chris Bennett, Managing Director, Caribbean Council, Jonathan White, UK Head of Infrastructure KPMG, Bill Cattanach, Head of Supply Chain, Oil and Gas Authority, Bobby Gossai, Economics Advisor, University of Aberdeen, Steve Crosley, International Business Development, UKEF, Sylvia Buchan, Supply Chain Development Manager, Oil & Gas Authority and Steve Crossley, International Business Development, UKEF.
On the second day of the summit, sessions will focus on Environmental Regulation and Energy Reform and Economics. Other participants will include; Â Dr Vincent Adams, Executive Director, Environmental Protection Agency Guyana, James Munro, Offshore Oil & Gas Regulation, Health & Safety Executive, Mark Irvine, Technical Director, ERM, Dr Nick Norton, Senior Energy Advisor, International Energy Unit (BEIS), Alexandre Oliveira, Global Oil & Gas Emerging Markets Leader, Ernst & Young LLP, Chris Wheaton, Director, Stifel, and Joana Santos, Strategy Manager; Ernst & Young LLP.
The final session of the conference will focus on Corporate Social Responsibility and will see presentations form Dr. Veronica Broomes, Consultant on Sustainability & CSR, Broomes Consulting and Sanjeev J. Datadin, Attorney, Whitworth Chambers.
