Sunday, December 4, 2022

UNDP, Guyana Dept. of Energy discuss ‘value for money’ in oil sector

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The United Nations Development Programme (UNDP) and Guyana’s Department of Energy (DE) have committed to continue working closely on matters related to the strengthening of the South American country’s oil and gas framework.

DE Director Dr. Mark Bynoe received a courtesy call from UNDP Resident Representative ad interim, Luca Renda at the Ministry of the Presidency in Georgetown on Friday where discussions focused on a range of matters in Guyana’s emerging oil and gas sector. Mr. Renda was accompanied by UNDP’s Business Development and Result Management Analyst, Ms. Andrea Heath-London and Programme Analyst for Governance and Poverty, Ms. Vedyawattie Looknauth.

The Ministry of the Presidency said discussions focused on enhancing governance structures to ensure value for money in the oil sector.

This includes; “support in guiding oil spill procedures; procurement of resources to regulate the sector; optimising the use of current resources and technology as well as the necessity for rolling out a communication strategy that will ensure civic engagement is done in a systematic way at all levels, as first oil will be a key event that will dominate Guyana well into the future,” the ministry said.

The UNDP Resident Representative assured that there will be continuity of co-operation between the Department of Energy and the agency even after the end of his tenure in Guyana, in July.

The agency has been playing an integral role in helping Guyana prepare for oil production, set to get underway by 2020 with the 120,000 bpd Liza Phase 1 Development project.

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