ExxonMobil Guyana renews sponsorship of Energy Conference for second edition in 2023
– Government welcomes the International Energy Conference and Expo 2023” says Natural Resources Minister

The International Energy Conference and Expo Guyana 2023 (IECEG 2023) today announced ExxonMobil Guyana as the premier sponsor of the second edition of the Conference & Expo.

Commenting on the sponsorship, President of ExxonMobil Guyana, Alistair Routledge said, The event’s theme, ‘Harnessing Energy for Development’, aligns with our commitment to sustainably produce energy and products to meet society’s needs in a manner that protects people, the environment and communities where we operate.”

Routledge added, “Guyana is a thought-leader on low carbon development with an ambitious strategy to secure growth and prosperity for current and future generations. These credentials, I believe, put Guyana in the driver’s seat on energy issues regionally if not globally, and the International Energy Conference is an ideal platform to learn of developments and engage in the debate. ExxonMobil Guyana is proud to be associated with this event and is excited to be part of the transformational journey taking place in Guyana.”

The Conference, which is expected to assemble policymakers, academics, industry professionals and entrepreneurs from around the world, will again see the participation of Heads of State and Government, and global energy thought-leaders, most notably, Professor Jeffrey D. Sachs, world-renowned economics professor, bestselling author, innovative educator, and global leader in sustainable development.

In acknowledging the sponsorship from ExxonMobil Guyana, Kurt Baboolall, Chief Executive Officer of the International Energy Conference and Expo Guyana said, “We are grateful for the sponsors and exhibitors who are committing resources to supporting the conference and driving the energy conversation.”

Baboolall added, “ExxonMobil, as is demonstrated in Guyana, is an unparalleled leader in energy development today and remains committed to meeting current and future needs for development. The rapid development of energy resources being undertaken by ExxonMobil Guyana has positioned Guyana in the middle of the current global discussions.”

At full capacity, this year’s conference will feature 35 sponsors, 300 exhibitors, and 1200 delegates. Over 60% of all places have been taken and the remaining openings have become extremely competitive to secure.

Minister of Natural Resources, Hon. Vickram Bharrat, who attended the announcement, signalled Government’s continued support of the Conference and Expo saying that “The Government welcomes the International Energy Conference and Expo 2023, this is the second energy expo in Guyana showcasing the opportunities and what Guyana has to offer to the world. Guyana of course is one of the newest oil producing countries in the Latin America and Caribbean region, and we have been moving at an unprecedented rate in developing our oil and gas sector and at the same time we have been incentivizing and working towards developing the traditional non-oil sectors.”

Minister Bharrat further explained, “[The IECEG] It’s not just about showcasing Guyana as an oil producing country but showcasing Guyana as an investment destination, a land that  offers many opportunities across all sectors.”

The Conference and Expo is now entering its second year under the theme ‘Harnessing Energy for Development’ and will be held from February 14-17, 2023 at the Guyana Marriott Hotel, Georgetown, Guyana.

The registration portal for the conference and expo can be found on the conference website, www.guyanaenergy.gy. Pre-registration is now open for sponsors, exhibitors, in-person attendees, virtual attendees, workshop participants, and members of the media, all being done online.

Green light for construction of a 300mw natural gas-fired power plant in Guyana

Nov 10, 2022

The Government of Guyana has paved the way for the gas to shore project to come to life by 2024. The Cabinet today issued a “no objection” to the construction of the first of its kind facility in Guyana. The project includes the construction of a 300mw combined cycle power plant and natural gas liquids facility.

This breakthrough decision will now permit negotiations to begin in earnest between the government and the winning bidders CH4/Lindsayca — with a goal to have the terms of the agreement finalized by the end of this month.

This is a significant breakthrough for the project. Earlier this year at the inaugural International Energy Conference and Expo Guyana, focus was placed on Charting a Sustainable Energy Future. The gas to shore initiative will be a critical component to getting there.

H.E. President Ali made it clear at the event that the offshore gas drilling taking place at breakneck pace must benefit the Guyanese people as a whole and not just those connected to the business. This project will lead to lower energy costs significantly while maximizing the use of by-products from drilling.

In his announcement today Dr. Ali said “a family at the end of this project that now pays $20,000 per month in light bill or electricity costs will see that cost coming down to $10,000.”

 

 

 

SBM Offshore completes US$1.75 billion financing of FPSO ONE GUYANA

Jul 21, 2022

SBM Offshore has announced that it has completed the project financing of FPSO ONE GUYANA for a total of US$1.75 billion., 

According to a press release from the company, the project financing was secured by a consortium of 15 international banks. SBM expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The project loan is in line with the duration of the charter hence a two-year tenor post-completion and carries a variable interest rate based on SOFR plus 2.2% margin.

The FPSO ONE GUYANA builds on the experience to date of FPSOs Liza DestinyLiza Unity and Prosperity.

SBM indicated that the design for FPSO ONE is based on SBM Offshore’s industry leading Fast4Ward® program that incorporates the Company’s new build, multi-purpose hull combined with several standardized topsides modules.

The FPSO will be designed to produce approximately 250,000 barrels of oil per day, will have associated gas treatment capacity of 450 million cubic feet per day and water injection capacity of 300,000 barrels per day. The FPSO will be spread moored in water depth of about 1,800 meters and will be able to store around 2 million barrels of crude oil.

The project is part of the Yellowtail development which is the fourth development within the Stabroek block, circa 200 kilometers offshore Guyana. Esso Exploration and Production Guyana Limited, an affiliate of Exxon Mobil Corporation, is the operator and holds a 45 percent interest in the Stabroek block, Hess Guyana Exploration Ltd. holds a 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds a 25 percent interest.

Trinidad and Tobago Prime Minister Dr Keith Rowley to attend second edition of The International Energy Conference and Expo Guyana 2023

Dec 09, 2022

The International Energy Conference and Expo Guyana 2023 today announced that the Prime Minister of Trinidad and Tobago, Dr. the Honourable Keith Rowley has confirmed his attendance and will deliver remarks on the opening day of the second edition of the event. Dr. Rowley is among a number of Heads of State and Government expected to attend the event. 

Chairman of the International Energy Conference and Expo Guyana 2023, Anthony Whyte said, “We are extremely pleased to see that Heads of Government across the region and globally are recognizing that Guyana is leader in this part of the world when it comes to energy talks and are taking the opportunity to be part of the conversations that will shape the approach to energy development over the next few years.” 

Whyte added, “Trinidad and Tobago has been a producer of energy for decades and we believe that their experience could help our sector realise its full potential. We are excited to host Prime Minister Rowley and the other heads of state scheduled to attend the conference and expo.” 

The Conference, which is expected to assemble policymakers, academics, industry professionals and entrepreneurs from around the world, will also again see the participation of global energy thought-leaders, most notably, Professor Jeffrey D. Sachs, world-renowned economics professor, bestselling author, innovative educator, and global leader in sustainable development. 

The Conference and Expo will be held from February 14-17, 2023 at the Guyana Marriott Hotel, Georgetown, under the theme ‘Harnessing Energy for Development’. 

The registration portal for the conference and expo can be found on the conference website, www.guyanaenergy.gy. Pre-registration is now open for sponsors, exhibitors, in-person attendees, virtual attendees, workshop participants, and members of the media, all being done online. 

 

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