Update on Status of Stabroek Block Cost Recovery and Verification of Profit Oil Audits

Update on Status of Stabroek Block Cost Recovery and Verification of Profit Oil Audits The Ministry of Natural Resources wishes to provide the public with an update on the status of three audits of Stabroek Block expenses. These audits were contracted by the Government of Guyana as part of its cost recovery verification process, which […]

Guyana EPA setting up real time monitoring of offshore operations

(OilNow) Newly appointed Executive Director of the Environmental Protection Agency (EPA), Mr. Kemraj Parsram says the agency is working to improve, enhance and build its capacity and it plans to introduce real time technology, which can assist its monitoring of the oil and gas sector. Mr. Parsram said that the focus has been placed on […]

Petroleum Exploration and Production (Amendment) Bill passed

(DPI) The National Assembly passed the Petroleum Exploration and Production (Amendment) Bill during the 31st Sitting of the 12th Parliament on Monday. Minister of Natural Resources, Vickram Bharrat, MP, says the Bill will paves the way for the Government’s gas-to-shore energy project.   This, he said, is one of the most important projects for development, […]

Retraction of 2020 guidelines will not affect EIAs – EPA assures

(OilNow) As public scoping meetings continue in Guyana ahead of the Environmental Impact Assessment (EIA) for the US$900 million gas-to-energy project, some concerns have been raised about the move by the Environmental Protection Agency (EPA) to withdraw its 2020 EIA guidelines. But the EPA in response, has assured that this will have no bearing on […]

Government receives payment for the sixth oil lift

-in keeping with commitments to transparency and accountability within the Petroleum Sector The Government Guyana through the Ministry of Natural Resources is pleased to announce that the payment for Guyana’s sixth oil lift was received into the Natural Resources Fund Account. This announcement is in keeping with the current administration’s commitment to transparency and accountability […]

Guyana looking to establish beneficial ownership register

Guyana’s Minister of Natural Resources, Vickram Bharrat has revealed that the Government is moving to create a beneficial ownership register. This was disclosed during his address to Guyana Extractive Industry Transparency Week (GYEITW) on Monday. Mr. Bharrat told the virtual participants that the government has issued a request for proposals to solicit expressions of interest […]

Exxon to pay US$1.3M for excess flaring –Vice President

Vice President, Hon. Dr. Bharrat Jagdeo today said the Government expects to rake in about US$1.3 million in fees from ExxonMobil for excess flaring. This was revealed during a press conference at the Arthur Chung Conference Centre, on Thursday.   The Vice President said Exxon’s local subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), applied […]

National Oil Spill Emergency Plan on stream

(DPI) Guyana has taken a robust approach to protect its people and valuable resources from all threats of oil pollution, through the establishment of a National Oil Spill Contingency Plan. The country’s new oil and gas industry has opened doors to vast economic transformation. While the Government looks forward to the economic boom and positive […]

Local content legislation for Guyana Parliament by year-end

(Oil Now) Draft local content legislation should be ready for Parliament by the end of the year in South America’s newest oil producing nation – Guyana – where the recently installed government has been advocating for more benefits for the country and its people from the vast offshore petroleum resources.         “We are moving swiftly. We’re […]