The upcoming Guyana Energy Conference and Supply Chain Expo will place spotlight on the grand scale of opportunities available for investment in the country’s blossoming economy, to which the local Private Sector has been urged to step up their game and seek partnerships. The third edition of the exposition is slated for February 19-22, 2024 under the theme: Fuelling Transformation and Modernization.
During a media briefing on Monday, Natural Resources Minister Vickram Bharrat recognised that Guyana is one of two hotspots for investment globally, but it has an advantage over Namibia in Africa, which is now moving towards production.
By February, Guyana will be producing a massive 600,000 barrels of oil per day, and with increased production comes increased opportunities, and with this ramped-up generation comes a new wave of economic openings.
“At the last energy conference, we were 380,000 to 390,000 barrels per day. A lot has happened from the last conference to this one, and increase in production definitely spells opportunities; opportunities throughout the value chain, opportunities for Private Sector and the provision of goods and services.”
Consequently, the Ministers stressed that it is important for the local Private Sector to use this platform as one to engage, network, and build partnerships. Local businesses were also versed that after the Local Content Act was finalised, several joint ventures have been created, and new investors are seeking partnerships, since schedule One of the frameworks can be amended at any time.

“Even though our Schedule One in the Local Content Legislation is limited to 40 carved out services, today it might be very different. What we have noticed is that almost every single investor coming to invest is now looking for a local partner, regardless if the service is in Schedule One or not.
They’re still looking for a local partner, because that schedule can be amended at any point in time…At any point in time, we can add services to that schedule, we can increase targets to the existing schedule. So, investors coming to Guyana fully aware of that, and because of that Act, fact we have seen massive development in our local Private Sector,” the Minister explained.
Further reiterating that Guyana’s buildout is not only focused on oil and gas, Bharrat relayed Government’s intention to attract investments in all sectors, and in so doing, there will be room for everyone to participate. The oil and gas industry is being seen as a medium to energize other sectors, where resources can be funnelled to create a robust and sustainable economy.
“We don’t want to be seen as an oil-based economy, even though some people may look at us as a new kid on the block in terms of production. We want to showcase, and we want to bring in investment in all sectors. We are not going to make the same mistake like many countries by revenue as soon as we start flowing.”
Additionally, Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr Peter Ramsaroop, sounded the call for local businesses to take advantage of the budding opportunities, but in doing so, they must step up their game.
Some 200 exhibitors are expected for this year, spanning 21 countries.
He expounded, “When you think of Guyana as a powerhouse, and you look at the type of visitors that will be in our country, I would advise our local Private Sector to really take the advantage. These folks are here looking to make money, and we don’t have a problem with that, but our Private Sector needs to understand that they have to step up their game. Look for the right partnership, participate, and demonstrate our capacity and capability.”
Attention is already set on the larger investment from 2025 to 2030, and how the economy can be diversified, Ramsaroop added.
The GO-Invest Head pointed out, “If you think of these folks coming in the country looking at oil and gas, realizing we’ve got the best silica sand in the world, we can be building the solar panels. Bauxite can go to aluminium, or we can have a gold refinery. These sounded far-fetched five years ago, but now they’re becoming a reality.”
Meanwhile, Private Sector Commission (PSC) Chairman Komal Singh has already asserted their readiness to participate fully, noting that just over the last two years, billions have been invested by private stakeholders.
Singh reported, “The Private Sector is very excited to be part of it, and we want to emphasize the importance of when you here to work with our Private Sector, to work with businesses locally. We want to create that platform where we can collaborate and create partnerships with companies that have the right technical expertise, the capital to support these investments.”
Thus far, some 19 different sectors are participating, with a focus on growth, sustainability and diversification. To ensure a balance in these industries would mean that traditional sectors need to keep up with the pace of development.
The conference will touch on shaping the future of energy; trends and best practices; the oil and gas value chain; emerging technologies to shape the energy landscape; building resilient supply chains in the face of disasters; and collaboration strategies for emerging economies, among other things.
Chief Executive Officer Kurt Baboolall outlined, “The theme connects the other industries, because without infrastructure, how can persons move their products along the roadway? We look at agriculture, farm-to-market roads, so the energy sector does not operate within a silo, and there is a correlation for other sectors here. If they cannot corelate in terms of progess or increase, then you will see the energy sector stifling.
Several high-level officials are slated to attend, namely: Prime Minister of Qatar, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani; former Colombian President Ivan Duque; Dominican Republic President Luis Abinader; Surinamese President Chandrikapersad Santokhi; Bahamian Prime Minister Philip Edward Davis; Trinidad and Tobago Prime Minister Dr Keith Rowley; and Caricom Secretary-General Dr Carla Barnett.

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Guyana empowered to ensure coverage of all oil spill costs beyond Exxon’s US$2B parent company guarantee – EPA Head

Jun 04, 2024

By Kiana Wilburg, CEO at Guyana Energy Conference & Supply Chain Expo

While an ExxonMobil-consortium in the Stabroek block has furnished Guyana with a US$2 billion parent company guarantee for oil spills, as well as a US$600 million insurance package, authorities are empowered to ensure all liabilities beyond these are covered.

This was recently noted by Head of the Environmental Protection Agency (EPA), Kemraj Parsram during his appearance on the Energy Perspectives podcast, a programme powered by the Guyana Energy Conference and Supply Chain Expo.

According to Parsram, the Environmental Protection Act is clear about full liability.

“In the words of the Act, it is ‘strict liability.’ What that means is that if you are a permit holder, you are fully responsible and fully liable for any pollution that you cause and that does not have to be proven.”

Expounding on how this translates to securitization, the EPA head said an estimate had to be arrived at, as per the conditions of the law. In this regard, the EPA reviewed guidelines used by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) as well as authorities in the United Kingdom, USA and Canada.

Parsram said international guidelines require conducting an exercise to arrive at an estimate of the reasonable credible cost of an oil spill. This would then be used as a guide on what the parent company guarantee would be, hence US$2 billion was arrived at for the Stabroek block.

“Now please note that the US$2 billion is the floor. With increasing developments, that estimate can go up. So, it is not the ceiling, it is the floor. Now, let’s say we find the cost is more, there is a clause that says the EPA and the guarantor can negotiate fulfilling that. But irrespective, the polluter stands the full cost,” the EPA head emphasised.

He was also keen to note that the EPA requires ExxonMobil and its partners – Hess and CNOOC – to provide authorities with an annual declaration of their liquidity. This ensures that at all times, the regulator is aware that the companies can cover their liabilities.

As an added layer of protection, he said ExxonMobil and its partners are required to keep a capping stack in country. This device is critical as it stops or redirects the flow of hydrocarbons, buying engineers time to seal the well permanently. ExxonMobil is also required to maintain a subscription to another. Further to this, Parsram said inspections are done on ExxonMobil’s blowout preventers to always ensure their integrity.

On the reporting side, he said there is a requirement for environmental effects monitoring. In this regard, he said ExxonMobil must monitor the effects of its discharges and emissions on water quality and biodiversity.

Overall, he said these are some of the key mechanisms in place to protect Guyana, and which also lend to the EPA’s goal of becoming a world-class regulator.

Subsea 7 and Van Oord consortium awarded contract offshore Guyana

Aug 02, 2022

Subsea 7 and Van Oord have announced the award of a substantial contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) for the Gas to Energy project offshore Guyana, in water depths of up to 1,450 metres. Although a contract value has not been announced, Subsea 7 has indicated that the contract is between USD150m and USD300m

The scope covers the project management, engineering, and installation of approximately 190 kilometres of pipeline, with an associated shallow water portion and onshore approach making landfall to the west of the Demerara River, along the coast of Guyana.

Craig Broussard, Vice President for Subsea 7 US, said: “We are honoured to have been selected for Guyana Gas to Energy. This is an important project to support the Guyanese people and we look forward to continuing our relationship with EEPGL in one of the most prolific and exciting development basins in the world.”

Hans van Gaalen, Commercial Director for Van Oord, adds: “Van Oord is honoured to have been selected for the Guyana Gas to Energy project in cooperation with Subsea 7. Developing the coastal infrastructure for the project will allow our Subsea 7 and Van Oord consortium to positively contribute to the development of Guyana’s electricity supply which in turn will reduce Guyana’s dependence on imported fuels.”

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].

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