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.
Williams clinch stage 2 as John holds onto series lead One Guyana 3 stage Cycling Championship
MARLON Williams put in a brutal and enduring performance on the West Coast of Demerara to clinch the victory in the elite category of stage 2 of the One Guyana Cycling championship on Sunday morning. The race pedaled off at Schoonard roundabout heading towards Parika...
Youth League could be on next year – CPL CEO
Integration of regional youth players partially successful CHIEF Executive Officer of the Republic Bank Caribbean Premier League Pete Russell says that there is a possibly that the organisation may host a youth league next year. Speaking exclusively with Chronicle...
Guyana will host a successful 2024 CAC-Bess
PRESIDENT of the Guyana Body Building & Fitness Federation (GBBFF), Keavon Bess, speaking recently, expressed confidence that Guyana will successfully host the Central American & Caribbean (CAC) Championships slated to be staged this weekend, at the National...
AG 2023 Report: Effects from APNU/AFC botched purchase of US$2M in pumps still being felt
– PPP/C Govt working to resolve issue, in talks with Indian contractor The current People’s Progressive Party/Civic (PPP/C) Government inherited several botched projects and contracts from its predecessor, A Partnership for National Unity/Alliance For Change...
Go-Invest assists 137 local companies to enter export markets
– connected over 100 businesses with overseas buyers Guyana Office for Investment (Go-Invest) continues to play a vital role in promoting the export of locally manufactured Guyanese products. The agency has recently expanded its services, notably establishing a...
In Trinidad: Mom chopped to death
(Trinidad Express) Mother of two Laura Sankar has been murdered. Sankar, 34, was chopped to death at the family home near Princes Town on Saturday night. The article In Trinidad: Mom chopped to death appeared first on Stabroek News.
Benn promises fire prevention equipment on visit to Puruni Landing
Minister of Home Affairs Robeson Benn yesterday visited the site of the recent Puruni Landing fire and engaged with affected residents to assess the damage and explore solutions for enhancing safety measures. The article Benn promises fire prevention equipment on...
30 GDF officers commissioned
The officer corps of the Guyana Defence Force (GDF) has been bolstered by the addition of 30 newly-commissioned officers who were on Friday, presented with their Instruments of Commis-sion by Commander-in-Chief of the Armed Forces President Irfaan Ali, a release from...
Chanderpaul, spinners power Demerara to win over Select XI
GCB Inter-County Super50 By Michelangelo Jacobus The Guyana Cricket Board (GCB) Inter-County Super50 competition got off to an exciting start yesterday with defending champion Demerara thrashing the GCB Select XI by 105 runs, led by an unbeaten century from opener...
Windies go 1-0 up after Lewis, King outshine Kamindu, Asalanka
(ESPN Cricinfo) – Brandon King and Evin Lewis crashed 107 off 55 balls at the top of the order to set the West Indies beautifully on course to their target of 180 in the first T20I against Sri Lanka. The article Windies go 1-0 up after Lewis, King outshine Kamindu,...
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.
%