GUYANA OIL AND GAS
Comprehensive list and details of major oil and gas discoveries in Guyana’s offshore blocks.
Exploration and Production
The exploration and production sector focuses on the discovery and extraction of oil and gas reserves in Guyana. Exploration involves activities such as seismic surveys, drilling of exploratory wells, and data analysis to identify potential oil and gas deposits. Once a discovery is made, production activities begin, including drilling production wells, installing offshore production facilities, and implementing extraction techniques to extract hydrocarbons from the reservoirs. This sector plays a crucial role in unlocking Guyana’s oil and gas potential and contributes significantly to the country’s economic growth.
Regulatory Framework
The regulatory framework sector encompasses the laws, regulations, and policies that govern the oil and gas industry in Guyana. This includes licensing and permitting processes for exploration and production activities, environmental regulations to ensure responsible operations, safety and operational standards, and oversight of the industry to promote fair competition and adherence to best practices. The regulatory framework aims to strike a balance between encouraging investment and ensuring sustainable development of the sector while safeguarding environmental and societal interests.
Environmental Impact
The environmental impact sector focuses on assessing and mitigating the ecological consequences of oil and gas operations in Guyana. It includes evaluating the effects of exploration, production, transportation, and refining activities on ecosystems, wildlife, water bodies, and air quality. This sector emphasizes the implementation of environmentally friendly practices, such as minimizing carbon emissions, adopting cleaner technologies, managing waste and spills, and supporting conservation efforts. Addressing environmental concerns is crucial for sustainable development and minimizing the industry’s impact on Guyana’s natural resources.
Socioeconomic Implications
The socioeconomic implications sector examines the broader societal and economic effects of Guyana’s oil and gas industry. It encompasses job creation and employment opportunities for local communities, skills development and training programs, revenue generation for the government through taxes and royalties, the impact on local businesses and industries, and the overall contribution to the country’s GDP. Additionally, this sector involves community engagement initiatives, corporate social responsibility programs, and efforts to ensure the equitable distribution of benefits to the population.
Technology and Innovation
The technology and innovation sector focuses on advancements, innovations, and emerging trends in the oil and gas industry. This includes the application of digital technologies, automation, artificial intelligence, and data analytics to enhance exploration and production efficiency, optimize operational processes, and improve safety. Additionally, this sector encompasses innovations in renewable energy integration, such as offshore wind or solar projects, that aim to diversify Guyana’s energy mix and promote sustainability in the long term.
Market and Investment
The market and investment sector analyzes the market dynamics and investment opportunities within Guyana’s oil and gas industry. This includes tracking global oil prices, analyzing market trends, and assessing the investment climate for international companies and investors. Additionally, this sector explores partnerships, joint ventures, and the involvement of multinational corporations in exploring and developing oil and gas reserves in Guyana. It provides valuable insights for stakeholders interested in participating in the sector’s growth.
Hampers for senior citizens!
President, Dr Irfaan Ali on Thursday last distributed hampers to hundreds of senior citizens in Region Three (Essequibo Islands-West Demerara)
Gas-to-energy project will save Guyanese billions of dollars
-VP Jagdeo VICE-PRESIDENT, Dr Bharrat Jagdeo has yet again reaffirmed the transformative potential of Guyana’s gas-to-energy project. Speaking at a People’s Progressive Party (PPP) press conference at Freedom House last week, he emphasised the importance of the...
Adams’s continued attempts to mislead
Dear Editor, The Environmental Protection Agency (EPA) has taken note of an article published in the media on December 20, 2024 under the headline, “EPA shamefully omitted sections of Exxon Permit to argue against unlimited parent company guarantee for oil spills – Dr...
Shoreline Estates aims to redefine modern living with new condominium project at Enmore
LUXURY real estate companies Buddy’s Housing Development and Atlantic Builders Inc. have announced an innovative project that promises to elevate modern living standards in Guyana. Launching in January 2025, Shoreline Estates will introduce a state-of-the-art...
‘Keep Christ in Christmas’
– Prime Minister Phillips spreads joy at Albouystown tree light-up MORE than 500 children from Albouystown and surrounding communities joined Prime Minister, Brigadier (Ret’d) Mark Phillips and some of Guyana’s best musicians to usher in the Christmas spirit with...
‘Guyana prepared to become aviation hub of the region’
-Chinese scholar says; highlights co-operation between China, Guyana in infrastructural sector GUYANA’S aviation sector is poised to take off as the country’s development and attractive investment climate have positioned it to become a regional hub. This is...
Public servants, pensioners will receive $100k cash grant by year’s end
–President Ali says PRESIDENT, Dr Irfaan Ali has assured public servants and pensioners that they will all receive the one-off $100,000 cash grant before the end of the year. Speaking with a group of women journalists during the second episode of In the Seat,...
An enhanced holiday experience
WITH the festive season upon us, it is timely to acknowledge that Christmas in Guyana is not just a celebration of the birth of Christ, but also a vibrant expression of culture, community, and joy. This year, the spirit of Christmas is particularly bright, thanks, in...
Chase’s Academy meet St Benedict’s again in tonight’s final
Revenge was a dish best served with goals on Friday night at the Ministry of Education (MoE) Ground on Carifesta Avenue, as Chase’s Academic Foundation of Guyana flipped the switch on Jamaica’s Clarendon College to oust the defending champions from the Petra...
Jagdeo says Guyanese benefitting from oil wealth
Kaieteur News- Vice President Bharrat Jagdeo on Thursday told reporters that Guyanese are benefitting from the country’s oil wealth. He was speaking at his weekly press conference held at Freedom House, Robb Street, Georgetown. He was asked by a Kaieteur News...
INITIAL EXPLORATION
initial Exploration:
The exploration for oil and gas in Guyana began in the 1950s, with companies conducting surveys and seismic studies in offshore areas.
However, it wasn’t until 1999 that significant discoveries were made by ExxonMobil (in partnership with Hess Corporation and CNOOC Nexen) in the Stabroek Block, located off the country’s coast.
Major Discoveries:
In 2015, ExxonMobil announced the Liza-1 well discovery, which was estimated to hold significant reserves of oil.
This discovery marked the beginning of a series of major oil finds in the Stabroek Block. Subsequent discoveries include Payara, Liza Phase 2, Liza Deep, Snoek, Turbot, Ranger, Pacora, Longtail, Hammerhead, Pluma, Tilapia, Haimara, Yellowtail, Tripletail, Mako, and Redtail.
Production Commencement:
In December 2019, Guyana officially began producing oil from the Liza Phase 1 development, marking a historic milestone for the country.
The production is carried out by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited, in partnership with Hess Corporation and CNOOC Nexen.
Growing Industry and Investments:
The discoveries in Guyana’s offshore basin have attracted significant attention from international oil and gas companies, leading to a surge in investments and exploration activities.
Several companies, including TotalEnergies, Tullow Oil, and Repsol, have acquired exploration licenses and begun drilling in various blocks across Guyana’s waters.
Socioeconomic Impact:
The development of the oil and gas sector has the potential to transform Guyana’s economy significantly. It is expected to bring in substantial revenues, job opportunities, and infrastructure development.
The government has established regulations, revenue-sharing agreements, and institutions to ensure transparency, environmental stewardship, and the sustainable management of resources.
Check this out
Day(s)
:
Hour(s)
:
Minute(s)
:
Second(s)
GUYANA
Guyana, a country on South America’s North Atlantic coast, is defined by its dense rainforest. English-speaking, with cricket and calypso music, it’s culturally connected to the Caribbean region. Its capital, Georgetown, is known for British colonial architecture, including tall, painted-timber St. George’s Anglican Cathedral. A large clock marks the facade of Stabroek Market, a source of local produce.
%