To support the substantial growth taking place across Guyana’s industries including agriculture, construction, and oil and gas, authorities must find at least 53,000 new workers. To bridge this labour gap, Director of the Centre for Local Business Development (CLBD), Dr. Natasha Gaskin-Peters said there are a multiplicity of positive outcomes to be had by harnessing the potential of women towards this cause.

During an interview on the Energy Perspectives Podcast, a programme powered by the Guyana Energy Conference and Supply Chain Expo, Dr. Gaskin-Peters acknowledged the government’s intention to import skills. To complement this approach, as well as other initiatives geared at upskilling the populace, she believes women ought to be targeted to help support the nation’s labour needs.

Expounding on the growing demand for labour, Dr. Gaskin-Peters shared that this subject was explored in depth via a 2023 study. That exercise was executed by the CLDB in collaboration with the University of Guyana (UG) and other agencies. It was funded by the Greater Guyana Initiative (GGI), a  GY$20 Billion commitment (US $100 Million) by Stabroek Block partners, ExxonMobil, Hess and CNOOC, for capacity-building initiatives over a period of 10 years.

“That survey we did states that we need over 53,000 new workers and that is across only five sectors and there are 22 in the economy. So, there is definitely a need for importing skilled talent,” said Dr. Gaskin-Peters, adding that it was also one of the overarching recommendations in the 2023 study.

The report also urged authorities to establish a Labour Market Information System (LMIS) to improve data analysis; improve the quality of TVET courses for high-demand trades; and introduce one year pre-university bridging programmes in science and math to allow more students to qualify for degree programmes.

In addition to the foregoing, the CLBD Director stressed the need for authorities to implement policies that integrate more women into the workforce. To help women, particularly those with children, she said consideration can be given to policies on childcare while women tend to their jobs. “…Government has started some initiatives in training and childcare support services but broadening those would be ideal,” said the economist.

From the Centre’s perspective, she said support is offered through its AccelerateHer programme. This initiative offers participants the opportunity to learn the fundamentals of marketing and building their business.

“…This programme has really mentored women and I find sometimes women can be challenged as it pertains to their confidence and public speaking and that programme really helps them with how you pitch your business, how you market, and giving them that sense of aggression within the business community. You see these women flourish after the programme…,” the economist shared.

By leveraging the potential of women, Dr. Gaskin-Peters believes that the country can not only address labour shortages, but also promote gender equality while striving for a more inclusive and resilient economy.

Breakthroughs in technology propelling deep water success in Stabroek Block – Routledge

May 18, 2024

—Guyana to become world’s largest oil producer per capita in 2025

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

ExxonMobil, alongside its partners Hess and CNOOC, has often credited technological advancements as one of the key factors that allowed for rapid success in Guyana’s Stabroek block. In just five years, the Exxon-led consortium commenced oil production in December 2019 at the Liza Phase One project.

This performance was deemed unprecedented as it surpassed the industry standard by two years. A lesser-known fact, however, is that the technology to develop Guyana’s sweet, light hydrocarbons did not exist 15 to 20 years ago, as highlighted by the President of ExxonMobil Guyana, Alistair Routledge.

On the sidelines of the Offshore Technology Conference (OTC) on May 8, 2024, Routledge explained to the Guyana Energy Conference & Supply Chain Expo the crucial role of technological breakthroughs.

Routledge said technological advancements played a key role in revolutionizing how deep water projects are optimized in Guyana to meet global energy demand.

“…But let’s face it, 15 to 20 years ago, the technology did not exist to develop the resource in the water depths offshore Guyana. So, everything has its time and place,” said the ExxonMobil official.

To date, the oil major has utilized cutting-edge technology to drill wells as deep as 15,000 to 18,000 feet. For example, ExxonMobil’s 13th discovery in Guyana at the Yellowtail – 1 well was drilled to a depth of 18,445 feet (5,622 meters) in 6,046 feet (1,843 meters) of water.

Routledge further noted that technology has allowed it to hit a successful queue of discoveries in Guyana’s Stabroek Block, now well over 35. With six sanctioned projects, ExxonMobil estimates that Guyana will be producing over 1.3 million barrels of oil by 2027.

Next year Guyana will commission the Yellowtail project, the fourth development in the Stabroek block. Working alongside three existing vessels–the Liza Destiny, Liza Unity, and Prosperity FPSOs; production will reach approximately 870,000 barrels of oil per day. This would make Guyana the world’s largest oil producer per capita.

“…All these technologies have come together to enable us to find, deliver and develop the resources in Guyana that we see today. It is quite a remarkable success,” Routledge said.

The ExxonMobil Guyana President also emphasised the importance of events like OTC in providing a one-stop showcase of the latest developments for the industry which can then be applied to Guyana’s operations.

“What a conference like OTC does is that it provides a platform for the sharing of technology and expertise, whether that is the companies bringing and inventing new technologies…or it is the exchange of ideas and new developments by geoscientists, engineers and the technology people in our industry who are able to hear from one another, what we are thinking and how do we apply that in Guyana in order for us to develop and find additional resources, bring down the cost of development, and extend the recovery of resources for maximum value for the country,” Routledge said.

Overall, the ExxonMobil official said cutting-edge technology is already unlocking Guyana’s hydrocarbon potential and that it will remain integral for the long term.

ExxonMobil’s Whiptail Petroleum Licence reflects evolution of Guyana’s permitting process – Senior Petroleum Coordinator

Apr 21, 2024

By Kiana Wilburg
CEO, Guyana Energy Conference and Supply Chain Expo
[email protected]

 

Since assuming office in August 2020, the Guyanese Government has implemented numerous reforms to strengthen the permitting process for oil licences and environmental permits.

Senior Petroleum Coordinator at the Ministry of Natural Resources, Bobby Gossai Jr. recently noted that the Petroleum Production License (PPL) that was granted to an ExxonMobil-led consortium for its US$12.7 billion Whiptail Project exemplifies the regulatory advancements enveloping the sector.

The Whiptail PPL was issued on April 12, 2024. This sixth oil project is targetting the production of 850 million barrels of oil at 250,000 barrels per day. By 2027, it will take Guyana’s total output from the Stabroek block beyond 1.3 million per day.

During his first appearance on the Energy Perspectives Podcast, Gossai examined some of the provisions which underpin the evolution of the permitting process for the oil sector.

The Senior Petroleum Coordinator explained that the Guyana Government has thus far approved four PPLs for ExxonMobil’s projects styled Payara, Yellowtail, Uaru and Whiptail.

He said these PPLs, and their accompanying Environmental Permits, are armed with provisions that significantly improve upon those granted for the Liza Phase 1 and Liza Phase 2 projects.

While one of the better-known improvements includes strict conditions for flaring, (such as the application of a US$50 fee per tonne of carbon dioxide equivalent (CO2e) emitted), there are other new features to note. In this regard, Gossai expounded on the strengthened requirements for resource and reservoir reporting.

“…We want to make sure that we are updated on what the reservoir has, what is the oil in place…and the amount of resources that can be developed commercially…What we want to ensure is that there are monthly, quarterly and half-yearly reports and ultimately, we will see annual updates that make their way to the minister,” said Gossai.

According to the Whiptail PPL, the provision on resource and reservoir reporting is as follows:  “The Licence Holder shall submit quarterly resource and reserve reports to the Minister in respect of the Whiptail Project in such form and manner as the Minister may direct from time to time. (ii) These reports shall cover all potentially saleable products for the Whiptail Project including, but not limited to: oil, gas, natural gas liquids, and all such reports will be developed in accordance with and to the standards set by the Petroleum Resources Management System (PRMS).

“The Licence Holder agrees to cooperate with the Minister in auditing the Licence Holder’s statement of reserves. This cooperation shall include providing reasonable access to the required petroleum data in the Licence Holder’s possession necessary to the Minister, or any person or government agency duly authorised by the Minister, including the Minister’s procured reserves assessor’s evaluation and/or reports.”

That provision also demands that three years following first oil, an unaffiliated, independent third-party consultant must be procured to produce an independent assessment of the resources and reserves for the Whiptail project.

LOCAL CONTENT

While the promulgation of the Local Content Law in December 2021 secures the right of Guyanese to be considered for opportunities across 40 categories of work, the PPLs awarded by the current administration have been armed with an added layer of protection. According to Gossai, the Whiptail PPL demands that ExxonMobil and its partners, Hess and CNOOC, identify all opportunities for Guyanese participation.

“So the operator has a certain timeframe within which to make sure the opportunities for locals are submitted to the Local Content Secretariat,” the Senior Petroleum Coordinator added.

The Whiptail PPL states: “The Licence Holder shall within six (6) months of the date of this Licence provide a list of potential opportunities for local and overseas training or secondee positions within the organisations of the Licence Holder or affiliated companies, together with estimated costs. The Licence Holder shall maintain and update such list no less frequently than each calendar year. The Licence Holder shall accept the Government of Guyana personnel nominated by the minister for such positions…”

ENVIRONMENTAL MONITORING & AUDITING

While the Environmental Permit for the US$12.7B Whiptail project carries its suite of protective measures, the PPL also contains several complementary provisions. The licence states for example that Exxon and partners shall include methane emissions detection and reduction technology in the design of the floating, production, storage and offloading (FPSO) vessel.

The companies are also required to submit a report detailing clearly, how and what methods were used to calculate/ estimate emissions for each pollutant.

The Stabroek block consortium is also required to implement a monitoring programme for environmental resources (such as marine water quality, air, sound, mammals, fish, special species, coastal habitats, birds, benthos etc.) as identified in the Environmental and Social Impact Assessment (ESIA).

Further, the PPL demands that the licence holder conduct routine annual external/third-party environmental audits in accordance with an internationally accepted Environmental Management Standard such as ISO 14001:2015.

DECOMMISSIONING

Decommissioning occurs at the end of the life cycle for an oil and gas project. It involves the safe removal of all equipment used to extract the resources, as well as restorative works to ensure the environment is, as much as possible, returned to its original state.

Gossai said this provision in the Whiptail PPL is perhaps one of the most significant improvements compared to the arrangements in place for the Liza Phase 1 and 2 Projects.

“If we go back to Liza 1 and Liza 2, what we would have had at that time was a Decommissioning Security Agreement between the (co-venture partners) and government. That was a security agreement, in the sense that you say if this field is going to be for 20 years, by the time you reach the decommissioning stage, whether in year 18 or 19, we have some funds in place in an account somewhere to take care of those activities…but that was just an agreement,” said Gossai.

He noted that the Petroleum Activities Law mandates the establishment of a fund on mutually agreed terms, essentially ensuring that at no point will Guyana be saddled with such costs.

According to the Whiptail PPL, Exxon and partners shall, no later than 120 days from April 11, 2024, the date the licence was signed, submit to the minister, cost estimates for the alternative disposal methods considered in creating the Preliminary Decommissioning Plan and Budget submitted with the Whiptail Field Development Plan (GYWT-GP-BPFDP-00-0001).

It further notes that the licence holder shall prepare periodic updates to the “Preliminary Decommissioning Plan and Budget” as contemplated by section 10.7 of the Field Development Plan, and shall submit the final proposed Decommissioning Plan and Budget, for the approval of the minister in keeping with the Act and Regulations.

The PPL also states that within 24 months from the date of the licence, the minister and the Stabroek block consortium shall agree on the terms and conditions for the administration of a Decommissioning Fund.

The concerned parties shall also agree on the terms and conditions for the disbursement of payments for the cost of decommissioning to protect the State from the risk of having to fund decommissioning liabilities. Terms and conditions shall consider, but not be limited to the creation and structure of the fund, governance and contributions to the fund, payment and disbursement procedure, and protection against insufficiency of the fund.

ExxonMobil Guyana Named Title Sponsor for the Third Consecutive Year at the Guyana Energy Conference and Supply Chain Expo 2024

Jan 04, 2024

ExxonMobil Guyana has once again offered its full support for the Guyana Energy Conference and Supply Chain Expo billed for the Marriott Hotel from February 19 – 22, 2024.  

The Guyana Energy Conference and Supply Chain Expo is delighted to announce ExxonMobil Guyana as the title sponsor for the third consecutive year. As a global leader in the energy sector, ExxonMobil’s support underscores its commitment to advancing dialogue and collaboration in the dynamic landscape of the energy and supply chain industries. 

The Secretariat for the Guyana Energy Conference and Supply Chain Expo is pleased that ExxonMobil Guyana has chosen to be associated with this high-profile event in this capacity.  

Commenting on the sponsorship, President of ExxonMobil Guyana, Alistair Routledge said, “our continued support for this event is an undeniable signal of our commitment to contribute to the robust growth of the local energy sector and sustainable development of Guyana.”  

Kurt Baboolall, Chief Executive Officer of the Conference believes that the company’s participation at this level is testament to the success of the two previous conferences.  

He said, “We are honored to have ExxonMobil Guyana as the title sponsor for the third consecutive year. Their unwavering commitment to our conference underscores the significance of our shared goals in promoting advancements and collaboration within the energy sector.” 

The Conference, to be held under the theme, ‘Fueling Transformation and Modernisation’ is expected to assemble an impressive line-up of industry experts, policymakers and foreign officials to the benefit of local and international entrepreneurs.  

ExxonMobil Guyana will play a pivotal role in shaping discussions, sharing insights, and contributing to the overall success of the Guyana Energy Conference and Supply Chain Expo. The collaboration will provide a platform for the company to showcase its commitment to innovation, people and sustainability.  

The Guyana Energy Conference and Supply Chain Expo is an annual event that brings together industry leaders, policymakers, and stakeholders to discuss the latest developments, challenges, and opportunities in the energy and supply chain sectors. The conference aims to foster collaboration, innovation, and sustainable practices for the future of the industry. 

Opportunities are available for other companies to offer their support as sponsors in the Platinum, Diamond, Gold and Silver categories.  

While it varies, sponsorship opportunities allow for a wide range of branding and exposure for building network and expanding operations.  

Persons and companies interested in booking any of the sponsorship packages are advised to visit the website www.guyanaenergy.gy  to download and complete the sponsor registration form.  

General delegate registration for the Conference and Expo is also open for in person and virtual participation and persons can do so by also visiting the website before February 10, 2024.  

Exhibitions are hosted simultaneously with the main conference and exhibition packages are available separately for those interested.  

Book your booth or your seat to the conference and benefit from other promotional opportunities TODAY! 

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