The Government of Guyana intends to push key petroleum legislation in 2026 to strengthen governance, protect national interests, and ensure the oil and gas sector operates in accordance with international best practices.
This is according to Bobby Gossai, Senior Petroleum Coordinator in the Ministry of Natural Resources, in a recent Facebook video recording addressing the country’s 2026 Budget. He shared that a major legislative focus for the government will be the continued rollout of regulations under the Petroleum Activities Act 2023.
He said further implementation of the Oil Pollution Prevention, Preparedness, Response and Responsibility Act 2025 will also remain central on the agenda.
“In 2026, we will see the regulations being put in place to ensure effective environmental stewardship of the oil and gas sector… manage the oil and gas sector…put good principles in place… [and] reach good international oil field practices,” he said.
The Petroleum Activities Act of 2023 provides significant improvements in the governance of petroleum exploration and production, while expanding the scope of the legislation to include midstream activities such as the transportation and storage of hydrocarbons.
The Act also allows for a permit to be issued to ExxonMobil Guyana Limited (EMGL) to transport gas from the Stabroek Block via pipeline and store those resources onshore, while ensuring the country is better positioned to monetise its gas reserves.
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The Oil Spill bill establishes a modern legal framework aligned with international norms, imposing strict liability, requirements for financial security, provisions for direct claims, and prescribed penalties in the event of an oil spill.
It strikes a balance between supporting industry growth and safeguarding Guyana’s marine and coastal environment, while providing clarity and predictability for both operators and communities.
Gossai said the government is focused on maintaining a strong technical, fiscal, and legal framework, supported by coordinated oversight across agencies such as the Environmental Protection Agency, Guyana Revenue Authority, Ministry of Finance, Maritime Administration Department, and Bureau of Statistics, and by collaboration with local and international partners.
This regulatory oversight, he said, is imperative as the government “continues to monitor the activities of the oil and gas sector and put laws and regulations in place to ensure best international practices for both offshore and onshore operations.”
