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.”

 

 

 

Guyana Energy Conference & Supply Chain Expo 2025 returns February 18-21 at the Marriott Hotel

May 18, 2024

The Guyana Energy Conference and Supply Chain Expo will be held from February 18 to 21, 2025 under the theme, ‘Connecting the Dots: Integrating the Future.’ This flagship event is anticipated to attract over 5,000 delegates, feature 180+ booths, and host 70+ distinguished speakers at the Guyana Marriott Hotel.

The theme emphasises the interconnected nature of various elements within the energy sector and the wider supply chain ecosystem. It highlights the necessity of collaboration among stakeholders – including government bodies, industry players, academia, and civil society – to address common challenges and seize shared opportunities.

Given Guyana’s strategic location within the Caribbean region, the theme for this four-day event also highlights the importance of regional integration and fostering closer ties with neighbouring countries in areas such as trade, energy, and infrastructure development.

‘Connecting the Dots: Integrating the Future’ therefore serves as a unifying theme that brings together diverse stakeholders with a shared commitment to shaping a more sustainable, resilient, and inclusive future for Guyana’s energy sector and supply chain ecosystem.

The conference, poised for its fourth installment, will continue its leadership on discussions pertaining to a just energy transition and balancing economic growth with environmental sustainability. Other focus areas include financing sustainable development initiatives, developing a workforce for the future, building resilient supply chains, and promoting the advancement of women in the industry. Given the expanded focus of the conference, panel discussions will also identify investment opportunities in agriculture, tourism and infrastructure projects locally and regionally.

Since its 2021 debut, the Guyana Energy Conference and Supply Chain Expo has established itself as a meaningful platform for connecting industry professionals, government officials, investors, and experts in the energy sector. Participants have benefitted from invaluable engagements with policymakers and regulatory authorities, leading to a deeper understanding of the legal framework, as well as, key development plans.

For exhibitors and participating business professionals, this platform has allowed for products, services, and solutions to be showcased to a targeted audience with opportunities to connect with potential partners for joint ventures, strategic alliances, and project collaborations.

The Secretariat, entrusted with the oversight and execution of the conference, has meticulously crafted its 2025 prospectus for sponsors and exhibitors who wish to not only gain visibility within the industry, but also play a crucial role in shaping the discourse around energy sustainability and supply chain excellence.

For further details regarding the conference and securing your booth at the 2025 event, please reach out to Fareeza Haniff, Media and Operations Director at [email protected] or Kiana Wilburg, Chief Executive Officer at [email protected].

Third FPSO starts oil production, Guyana moving towards 620,000 barrels of oil daily

Nov 14, 2023

The Prosperity, the third Floating Production Storage and Offloading (FPSO) vessel operating in the prolific Stabroek Block offshore Guyana, started oil production on Tuesday.

This vessel arrived in Guyana in April and start-up works have been ongoing since. With this vessel, total production capacity in Guyana will increase to about 620,000 barrels of oil per day. The Liza Destiny and Liza Unity FPSOs were already operating in the Stabroek Block.

See below the full release from ExxonMobil Guyana:

ExxonMobil started production today at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day.

The Prosperity floating, production, storage and offloading (FPSO) vessel is expected to reach initial production of approximately 220,000 barrels per day over the first half of next year as new wells come online. This additional capacity will be the third major milestone towards reaching a combined production capacity of more than 1.2 million barrels per day on the Stabroek Block by year-end 2027.

“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand,” said Liam Mallon, president of ExxonMobil Upstream Company. “We’re pleased to work in partnership with the Guyanese government to make reliable energy accessible and sustainable.”

ExxonMobil Guyana anticipates six FPSOs will be in operation on the Stabroek Block by year-end 2027. Yellowtail and Uaru, the fourth and fifth projects, are in progress and will each produce approximately 250,000 barrels of oil per day. The company is working with the government of Guyana to secure regulatory approvals for a sixth project at Whiptail.

Prosperity joins the Liza Unity as two of the world’s first FPSOs to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping in recognition of the sustainability of its design, documentation and operational procedures. ExxonMobil’s Guyana developments are generating around 30% lower greenhouse gas intensity than the average of ExxonMobil’s upstream portfolio. According to the independent research firm Rystad Energy, they are also among the best performing in the world with respect to emissions intensity, outpacing 75% of global oil and gas producing assets.

Some 6,000 Guyanese are now supporting ExxonMobil Guyana’s activities in the country, representing more than two-thirds of the local oil and gas workforce. The company and its direct contractors have spent more than $1.2 billion with more than 1,500 Guyanese suppliers since operations began in 2015. Production started in December 2019.

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.

 

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