Opinions

The views expressed here are solely those of the author in their private capacity and do not represent the views of OilNOW.

Opinions

Letter-to-the-Editor: Guyana needs to be wary of so-called foreign experts pronouncing on its economic affairs

OilNOW -
Dear Editor, Guyana needs to be wary of the many so-called foreign experts who are seeking to dominate the local press and pronounce on Guyana’s economic affairs. To this end, particular reference is made to the commentaries of Tom Sanzillo,...
Opinions

Guyana set to lead Southern Caribbean offshore drilling in 2021

OilNOW -
By Kevin Ramnarine – OilNOW In 2021 there will be a major increase in offshore drilling activity in the Southern Caribbean which will be led by Guyana. At present there are four drillships operating in Guyana drilling for ExxonMobil. That number...
Opinions

For Guyana ‘light is right’ – the crude quality of choice

OilNOW -
The following is an opinion piece by Arthur Deakin, Analyst at Americas Market Intelligence (AMI) where he conducts political, economic, and other risk analysis activities for the mining, energy and infrastructure sectors in both Latin America and Africa. Starting in January...
Opinions

Fiscal smoothing for Guyana’s wealth funds

Bobby Gossai, Jr. -
Resource funds have been funded from a variety of sources. In some cases, large trade surpluses have been added to the foreign-exchange reserves of some countries, so as to substantially exceed the normal needs for foreign-exchange stabilisation. In other...
Opinions

Production-Sharing Agreements

OilNOW -
Discussions have been ongoing about the nature of the Production Sharing Agreement (PSA) Guyana has entered with ExxonMobil for the Stabroek block since oil was discovered back in 2015 and production got underway in December 2019. But what exactly are PSAs?...
Opinions

Negotiating an oil agreement for new economies such as Guyana

OilNOW -
The mere mention of a natural resource discovery, especially of oil and increasingly of gas, ignites personal and national dreams of riches and hopes of prosperous times, fuelled more than ever by recent dramatic changes in oil prices. Many emerging...
Opinions

Considerations for competitive bidding and licensing rounds for Guyana’s offshore development

OilNOW -
Fiscal design elements are important, but so are the means by which governments choose to allocate acreage or projects.  As can be seen today, there is significant competition for a limited amount of exploration capital. At the same time,...
Exploration

Factors that affect exposure to exploration risk in Guyana’s offshore basin

Bobby Gossai, Jr. -
Most governments go to a lot of effort to distance themselves as much as possible from exploration risk. This can be done through management of block sizes, relinquishment, and ringfencing, discussed in turn below. Block size and configurations Block size...
Opinions

Understanding the effective royalty rate for new petroleum producing countries

Bobby Gossai, Jr. -
The investor’s response to any given tax instrument or regime depends on the interrelations that link each of their profit decisions. For example, it may be supposed that a high royalty rate would cause early abandonment of a field...
Opinions

Evaluating key elements of an oil contract for emerging petroleum economies

Bobby Gossai, Jr. -
Keep in mind, however, that most fiscal systems in the world are moderately regressive. The revenue the governments receive will go up, but Government Take will go down on average. Finally, it is important to remember that the differences...
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Stena Drilling invests over US$85M in Guyana, employs 157 locals

Since 2016, Stena Drilling has contributed significantly to Guyana’s economy through local investments and job creation. Stena DrillMAX en route...

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