Saturday, May 21, 2022

Opinions

Oil exploration is high cost, high risk

One of the riskiest businesses is oil and gas (O&G) exploration. The risk climbs exponentially if it is taking place in a virgin basin, not yet proven its commercial potential. O&G projects are by nature risky ventures due to...

This is us!

There is a television drama series with a catchy title –This Is Us! and it struck me that as Guyanese we have peculiar traits that define us and make us standout especially how we react to different situations. I...

Cultural impact of oil & gas

For centuries, the productive pillars of the Guyana economy have been agriculture, fishing, mining and forestry. Then, in recent decades, we saw efforts at diversification with bold steps taken to develop the services sector with tourism and information and...

Are we ready for prime time? Doing catch-up

I admit that during my tenure as Minister of Natural Resources one of my main preoccupations was speeding up the exploration campaign of Guyana’s hydrocarbon basin with the aim of timely extraction and production once commercial discoveries were proven. But...

Guyanese urge Gov’t, Opposition to join forces for a national plan on oil & gas

As Guyana gears up for first oil in 2020, civil society, private sector groups and members of the public have been echoing the need for a clear-cut plan on how oil revenue will be spent in the South American...

Sanctions and the oil industry in Venezuela

Given the recent sanctions on Venezuela from Trump’s administration, the Latin American country is expected to declare bankruptcy, according to Breitbart News. However, it is not due to these sanctions that Venezuela is on ‘free fall’; it is instead...

Bank account for every baby, free education and better infrastructure; Guyanese vision for oil money mixed

UPDATE: This report was first published on September 23, 2017. Oil production in Guyana started on December 20, 2019 at the Liza Phase 1 Development. As preparation for oil production in Guyana continues, the view of the population regarding what...

Urgency required to meet demand for local content in Guyana

The recent discovery of oil offshore Guyana has created significant excitement for the future of the country and its developing industry. Naturally, the Buzz Phrase being kicked around in every conversation is Local Content.  With Local Content legislation being...

Guyana: Managing Local Content Expectations

The need for, and introduction of requirements for local content in Guyana’s emerging oil and gas industry, continues to engage the attention of stakeholders and the public at large. Even as a draft local content policy framework is being...

Production-Sharing Agreements (Pt. 2): Ownership & mineral development rights

(Part 2) Excerpt from an analysis done by Kristen Bindemann, Oxford Institute of Energy Studies There are two methods of contracting: bilateral negotiation and competitive bidding. When a contract is negotiated bilaterally, the firm, usually a multinational (such as ExxonMobil),...

Latest News

TechnipFMC developing pool of local companies to work by its side in Guyana

A major ExxonMobil contractor, TechnipFMC, is gradually building a pool of local companies that can support its work in...