Given Guyana’s proximity to other oil and gas players like Suriname and Trinidad and Tobago, regional cooperation with these nations would certainly aid its ambition for energy sufficiency and safety, says Iman Hill, Chief Executive Officer (CEO) of the International Association of Oil and Gas Producers.
Hill said Guyana’s and Suriname’s geographical proximity means that safety, for example, will be critical to consider as well as iron out through mutual agreements.
She said this is even more important given Suriname’s focus on offshore oil and the fact that any oil spill will directly affect Guyana – the ‘land of many waters’. The closeness of the two CARICOM sisters, she said, clearly reinforces the importance of investing in strong partnerships and regional collaboration on safety and other matters.
Cross border cooperation, Hill said, will also be to Guyana’s advantage beyond Suriname too. Hill said Brazil and Trinidad and Tobago can be key strategic partners on energy.
“I am a strong believer in the importance of collaboration, both across the region and globally. In the Caribbean, each country has its own strategies for gas, as it does for emissions and carbon capture use and storage. So, it’s a long way from an integrated energy pathway. Currently, the approach is based on local-level policy. But just imagine another block of energy countries that can shape their economic development collectively,” she said.
To build resilient ecosystems of any kind, Hill said collaboration is an absolute must for Guyana, adding that it is a fundamental pillar in being successful in the hydrocarbon industry.
Finally, as the country ramps up the development of its hydrocarbons, Hill said she would only ask that Guyana is mindful of the need to produce the cleanest barrels. The Petroleum Engineer said it is imperative that Guyana does all it can to mitigate emissions by reducing flaring and investing in all the technologies that allow hydrocarbons to play a role in a world that is charting its path towards net zero.
Should it choose to implement the foregoing advice in any shape or form, Hill believes Guyana would be taking key steps towards achieving a well-governed oil and gas sector.
