Media Statement – GoG welcomes 20th Offshore Oil Discovery
As Minister of Natural Resources with responsibility for the Petroleum Sector and on behalf of the Government of Guyana, it gives me great pleasure and honour to announce Guyana’s 20th Offshore Oil Discovery at Longtail-3 Offshore Guyana within the Stabroek Block offshore. The Longtail-3 discovery will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently […]
Guyana regulators internationally trained to measure crude lifts
Guyana’s multi-billion-barrel hydrocarbon discoveries and the start of oil production operations have seen institutions playing being trained to monitor and regulate a sector that was practically non-existent prior to the 2015 world class Liza oil strike by ExxonMobil. Key to this is the training and expertise required to accurately measure oil being lifted offshore. This […]
Open bidding process for the awarding of new oil blocks – President Ali
– Says Government may consider managing some blocks His Excellency Dr Irfaan Ali said that when the Government is ready to award new oil blocks, the process will be done transparently to ensure that the best offer is received. President Ali was responding to questions from the media at a Presidential Press Conference held yesterday […]
Consultations on Local Content Policy to continue this week
The Ministry of Natural Resources continues to make tremendous efforts towards transparency and accountability. In this regard, and in an effort to address and clear misconceptions that may circulate in the media, the Ministry wishes to address concerns relating to the Draft Local Content Policy, specifically in the areas of the local content panel, independent […]
Final Local Content Report submitted to Natural Resources Minister
Understanding the critical nature of the review of policy initiatives on local content in the petroleum sector, the Local Content Panel has submitted the final report for the development of Guyana’s Local Content Policy and Legislation. The report was presented to the Minister of Natural Resources Hon. Vickram Bharrat today by Chair of the Local […]
‘Every cent of oil money must be accounted for’ – Guyana President reaffirms at inauguration
(OilNow) President of Guyana Dr Mohamed Irfaan Ali says his government will ensure transparency and accountability in the oil and gas sector, citing the phenomenal growth projections of the International Financial Institutions for the South American country this year. Dr. Ali was speaking on Saturday at his inauguration ceremony in Georgetown, six days after he […]
‘Multiple high potential leads’ identified on Corentyne Block – CGX Energy
CGX Energy Inc.through CGX Resources Inc. (CRI), operator of the Corentyne Block offshore Guyana, under a Joint Operating Agreement with Frontera Energy Guyana Corp., said Thursday a seismic acquisition conducted on the block has identified two potentially highly prospective large channel sand reservoir complexes. “These channel complexes are interpreted to contain multiple high potential leads […]
Yellowtail reservoirs point to world class quality of Guyana basin – Exxon, Dept. of Energy
(OilNow) The identification of two additional high-quality reservoirs at the Yellowtail-2 well offshore Guyana has further confirmed the world class quality of the basin and the major potential for continued future development of hydrocarbon resources. Both ExxonMobil and the Department of Energy confirmed to OilNOW on Wednesday evening the significant findings of the appraisal drilling […]