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.
Jamaica Scorpions power past Leeward Hurricanes to Super50 final
CMC – Led by a sensational maiden List A century by Javelle Glenn the Jamaica Scorpions powered their way into the final of the Regional Super50 with an impressive 107-run victory over the Leeward Islands Hurricanes here at the Brian Lara Cricket Academy on Thursday....
Guyana produced 18,000 gallons of honey for year up to October – Mustapha
Guyana has been experiencing major success in honey output, having already produced approximately 18,000 gallons of honey as of October this year., The article Guyana produced 18,000 gallons of honey for year up to October – Mustapha appeared first on Stabroek News.
Corentyne biker dies after colliding with parked truck
A 23-year-old motorcyclist succumbed to his injuries at the New Amsterdam Public Hospital last evening after colliding with a stationary lorry earlier in the day on Number 72 Public Road, Corentyne Berbice. The article Corentyne biker dies after colliding with parked...
Canada dismantles Green Machine 29-0
…on day 1 of RAN Sevens Guyana’s Senior Men’s National Rugby team, the ‘Green Machine’ ground to a halt yesterday in their opening Rugby Americas North (RAN) Sevens fixture against Canada. The article Canada dismantles Green Machine 29-0 appeared first on Stabroek...
Louis 97, Athanaze 90 give West Indies slight edge after day one
(BBC Sport) – Mikyle Louis and Alick Athanaze both suffered the heartbreak of falling in the nineties on the first day of the Antigua Test against Bangladesh. Otherwise, the West Indies pair did enough to make the opening day of the series theirs. The 140-run fourth...
Diamond Mineral Water Indoor Hockey Festival returns for 19th edition
Kaieteur Sports- The highly anticipated Diamond Mineral Water International Indoor Hockey Festival is set to ignite the National Gymnasium from November 28th to December 1st. This year’s 19th edition promises thrilling action as top local and international teams...
Media misuse
…Editorial Kaieteur News –Vice President Bharrat Jagdeo is the happiest man in Guyana when he is abrasive. Though a leader made of sand, he relishes delivering words with the texture of sandpaper. What he pretends to be weekly press conferences have deteriorated...
Traffic ranks and de “Highway Harvest”
…Dem Boys Seh Kaieteur News- Dem boys seh road accidents gone up so bad, if yuh ain’t careful, yuh gun start seein’ traffic lights wearin’ black armbands. But who really enjoyin’ all dis chaos? Not de drivers, not de poor pedestrians dodgin’ cars like is a cricket...
Let us not be silent witnesses!
…Peeping Tom kaieteur News- Ray Daggers walked from Corriverton to Charity. It was a journey so epic it might have been plucked from mythology. Braving the heat, rain, and exhaustion, this solitary figure of moral indignation called upon the conscience of a nation to...
Welcome, Mr. PM
…Hard Truths By GHK Lall Kaieteur News- Guyana has rolled out the red carpet for India’s Prime Minister, Narendra Modi. Because it is Mr. Modi, and the storied heritage and linkage of Guyana to Mother India, the red carpet is a little wider and a little longer. I...
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.
%