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.

SBM signs new MOU with Exxon

Nov 09, 2022

SBM continues its relationship with ExxonMobil through the signing of a new MOU.

SBM Offshore has announced the signing of a Memorandum of Understanding (MOU) with ExxonMobil Guyana for construction of a multi-purpose floater hull for use on a future floating production storage and offloading (FPSO) project.

ExxonMobil and SBM Offshore have a long history of working together, with multiple FPSO projects underway.

Exxon has previously indicated that at least six FPSOs will be in service by 2027. They have also signaled that the resource base in Guyana has the potential to support up to 10 FPSOs.

 

Hess Corporation and the Government of Guyana Announce REDD+ Carbon Credits Purchase Agreement

Dec 03, 2022

Hess Corporation and the Government of Guyana announced an agreement for Hess to purchase high quality carbon credits for a minimum of $750 million between 2022 and 2032 directly from the Government of Guyana.  

Carbon credits are mechanisms used to reduce CO2 emissions. Carbon credits are generated by the avoidance of CO2 emissions. Guyana’s extensive natural rainforests provide an avenue to remove substantial quantities of CO2 from the atmosphere. 

This agreement will serve to support Guyana’s efforts to protect the country’s vast forests and provide capital to improve the lives of Guyana’s citizens through investments made by the Government as part of Guyana’s Low Carbon Development Strategy (LCDS) 2030.  

If you would like to learn more about Guyana’s Low Carbon Development Strategy click here:
https://lcds.gov.gy/ 

Guyana’s President, His Excellency Dr. Irfaan Ali stated, “In 2009, Guyana produced the first low carbon development strategy from a developing country. As one of only nine national jurisdictions in the Amazon Basin, we said long ago that national or jurisdiction-scale action on forests, coupled with access to global private finance, could create solutions that benefit the peoples of forest-rich countries while also achieving global climate goals.” 

President Ali was joined by Vice President, Dr. Bharrat Jagdeo and John Hess, CEO of Hess Corporation for a signing ceremony to commemorate this historic agreement. 

The multi-year agreement is for 37.5 million REDD+ jurisdictional carbon credits (current and future issuances). These credits will be on the ART (Architecture for REDD+ Transactions) registry and will be independently verified to represent permanent and additional emissions reductions under ART’s REDD+ Environmental Excellence Standard 2.0 (TREES). 

Avoiding global deforestation is foundational to the Paris Agreement’s aim of limiting the global average temperature rise to well below 2°C and was one of the major commitments made at the COP26 climate summit, where more than 130 countries, including Guyana, pledged to end deforestation by 2030.  

Guyana’s more than 18 million hectares of forests are estimated to store approximately 20 billion tonnes of carbon dioxide equivalent. Through Guyana’s Low Carbon Development Strategy 2030, the country has a roadmap for preserving its forests, while growing its economy and creating a development pathway that is diverse and includes opportunities for all Guyanese citizens. 

The purchase of these carbon credits is an important part of Hess’ commitment to support global efforts to address climate change and for the company to achieve net zero greenhouse gas emissions by 2050. The agreement adds to the company’s ongoing and successful emissions reduction efforts, which are described in Hess’ annual Sustainability Reports. 

If you would like to learn more about Hess’ sustainability reports, you can click here:
https://www.hess.com/sustainability/sustainability-reports 

 

APA Corporation Announces First Discovery in Block 53 Offshore Suriname

Aug 23, 2022

APA Corporation has announced an oil discovery offshore Suriname at Baja-1 in Block 53. The company also provided an update on recent drilling operations at Dikkop-1 in Block 58.

Block 53

Baja-1 was drilled to a depth of 5,290 meters (17,356 feet) and encountered 34 meters (112 feet) of net oil pay in a single interval within the Campanian. Preliminary fluid and log analysis indicates light oil with a gas-oil ratio (GOR) of 1,600 to 2,200 standard cubic feet per barrel, in good quality reservoir. The discovery at Baja-1 is a down-dip lobe of the same depositional system as the Krabdagu discovery, 11.5 kilometers to the west in Block 58. Evaluation of open-hole well logs, cores and reservoir fluids is ongoing.

“Our success at Baja marks the 6th oil discovery we have participated in offshore Suriname, and the first on Block 53,” said John J. Christmann, APA CEO and president. “This result confirms our geologic model for the Campanian in the area and helps to de-risk other prospects in the southern portion of both Blocks 53 and 58.”

APA recently received regulatory approval regarding an amendment to the Block 53 Production Sharing Contract (PSC), which provides options to extend the exploration period of the PSC by up to four years. The company is currently progressing the formalization of the election of the first one-year extension, for which all work commitments are complete.

APA is operator and holds a 45% working interest in Block 53, with Petronas holding a 30% working interest and CEPSA holding a 25% working interest. Baja-1 was drilled using the Noble Gerry de Souza in water depths of approximately 1,140 meters (3,740 feet). The drillship will mobilize to Block 58 following the completion of current operations, where it will drill the Awari exploration prospect, approximately 27 kilometers (north) of the Maka Central discovery.

Block 58

APA also announced that operations have concluded on the Dikkop exploration well in Block 58. The well encountered water-bearing sandstones in the targeted interval and has been plugged and abandoned. TotalEnergies is the operator with a 50% working interest, and APA holds the remaining 50% working interest. The drillship Maersk Valiant will be moving to the Sapakara field to drill a second appraisal well at Sapakara South, where the joint venture conducted a successful flow test late last year.

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