Monday, August 15, 2022

Norway energy research company set to present report on Guyana’s O&G sector in Georgetown

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OilNOW
OilNOW is an online-based Information and Resource Centre

Rystad Energy, an independent energy research and business intelligence firm based in Norway, will present a white paper on Guyana to the business community and students from the University of Guyana.

The white paper is called Guyana Upstream. It is a July 2022 industry and country benchmarking update on the new oil producing nation, that explores its exploration and development successes and prospects, long-term sustainability of the deepwater industry, the value involved for government and companies, and the government’s mechanisms to manage its wealth properly.

The presentation will be done by Senior Vice President and Head of Latin America and the Caribbean for Rystad Energy, Schreiner Parker. The analyst joined Rystad Energy in 2016 and has been following developments in Guyana ever since.

Ahead of Parker’s arrival in Guyana, Rystad published a press release that said Guyana has entered the big league as its oil revenues break US$1 billion in 2022. The release notes that revenues from oil will grow so steeply over the years that annual revenues are projected to meet US$7.5 billion by 2030, and US$16 billion by 2036.

To make sure Guyana stewards its oil and gas industry the right way, Rystad said there are steps that need to be taken to improve governance of oil, building on the moves already taken by the government, such as improvements to fiscal policy transparency.

Parker met with several media operatives Wednesday, for an in-person engagement hosted by OilNOW, during which he discussed his study and fielded many questions.

He will present his white paper to students at the University of Guyana’s Economics Department, during a virtual engagement on the afternoon of Thursday, August 4.

OilNOW, in collaboration with the Georgetown Chamber of Commerce and Industry (GCCI), will also facilitate a session primarily for the local business community, at Roraima Duke Lodge, Kingston, Georgetown at 17:00 hrs on Thursday, August 4.

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