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.”

3rd ENERGY CONFERENCE – FEB 19 – 22, 2024

Jan 04, 2024

Guyana’s premier Energy Conference and Expo returns for its third installment in 2024, rebranded as Guyana Energy Conference and Supply Chain Expo.  

The Conference and Expo is the largest platform for industry experts, policymakers, general stakeholders, and operators to B.U.I.L.D their network, insights for projects (both public and private) and the opportunity to meet with international investors.  

The 3rd Annual Guyana Energy Conference and Supply Chain Expo is billed for the Guyana Marriott Hotel from February 19 – 22, 2024 under the theme: “Fuelling Transformation and Modernisation.”  

After the success of two previous events in 2022 and 2023, the Secretariat saw it necessary to broaden its platform to include the focus on a number of industries for potential investment, such as health, information and communication technology, tourism, manufacturing, agriculture and mining.  

The Guyana Energy Conference and Supply Chain Expo fosters the growth and creation of strategic alliances among companies and industry experts. Participants will network with key stakeholders including operators, international service companies, government agencies and government officials.  

The Conference and Expo will again provide a unique platform to discuss pertinent issues about Guyana’s development and the industry’s global best practices.  

It seeks to Build new business relationships and strategic alliances; provide Updates on projects in Guyana; give Insights on critical developments; Link companies to all major purchasers and Develop timely and useful information to help businesses strategise.  

The Secretariat, along with its partners, are proud to welcome all participants, keynote speakers, policymakers, local and international industry experts. 

With over 1,200 attendees, 60 speakers (International and Local), 180 exhibitors and 30 sponsors in 2023, the event in 2024 is expected to surpass these records.  

Registration is now open. Participants and those interested in sponsorship opportunities are encouraged to book their spots early for the main conference, exhibition, and other events.    

On the website, interested persons can download and complete their respective registration forms.  

Registration for the four-day event caters for in-person (international, CARICOM and local delegates), but also provides a platform for delegates attending virtually. Registration closes on February 10, 2024.  

Exhibitions are hosted simultaneously with the main conference and various packages for exhibitors are available.  

For more details on the agenda and news about the conference, please visit: www.guyanaenergy.gy or download our app (Guyana Energy) to support the powering of Guyana’s future. You can also follow our social media pages for regular updates.  

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

‘Oil man’ Ayuk says ‘produce every drop you can find’

Nov 03, 2023

In dialogue at the AfriCaribbean Trade and Investment Forum held in Georgetown, Guyana, NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC), urged Guyana to fully produce its hydrocarbon resources. The context of his comment was a question about a roadmap for the energy transition of the African and Caribbean countries, amidst the global shift towards decarbonization.

Ayuk stated, “The wealthy nations, they have produced hydrocarbons, developed their economies, and done very well; now, they need to decarbonize. The Caribbean and African nations, they need to industrialize. It is morally wrong to look at Caribbean and African nations and say, ‘you need to go the same path like us.’” He noted that by 2030, Guyana’s hydrocarbon production could reach about 1.5 million barrels a day, which he said is needed for the country’s development.

“Please don’t stop. Produce every drop of hydrocarbons you can find. And use that money to go at your own pace,” Ayuk said. Bolstering this point, he reminded that there are unfulfilled climate support pledges from developed nations. “Where is the $100 billion they promised? It hasn’t come. And then they’ll say, ‘you have to transition.’ Where are you gonna have the money from? [African Export Import Bank] Afrexim  is not going to be alone to power that transition without the money…”

Ayuk, who calls himself an ‘oil man’, has criticized how Western environmental lobbyists have treated with the oil and gas industry in Africa. He has argued that their opposition to oil extraction could put those countries in a precarious position that leaves them dependent on “handouts”, and that African countries should extract their resources, so they can be on a path to self-sufficiency.

“Demonizing the oil and gas industry must stop. We see it constantly, in the media, in policy and investment decisions, and in calls for Africa to leave our fossil fuels in the ground,” Ayuk said in an AEC release. “We see it with lawsuits to stop the financing of projects such as Mozambique Liquefied Natural Gas or lawsuits to prevent Shell from even carrying out a seismic survey.”

He said actions like these are not helpful, especially as Western leaders have pushed the Organization of Petroleum Exporting Countries (OPEC) and European nations to increase their production and escalate coal use.

The AEC said African and Caribbean nations, through collaboration, stand to maximize the benefits of their oil and gas wealth. And should be allowed to fast-track development efforts.

Guyana GDP growth rate to be highest in the world

Nov 14, 2022

According to estimates by the WorldBank and International Monetary Fund( IMF), Guyana, one of Latin America’s smallest countries is set to post the world’s highest GDP growth.  For several years, since the production of crude oil begun through Exxon’s Liza development, the country has outpaced global growth averages.

It is projected that at the end of 2023 Guyana’s GDP growth rate will be close to 100% compared with 2021 figures. According to IMF estimates, Guyana will grow 57.8% this year and 25.2% next year, resulting in a GDP increase of around 97.6% in two years. Meanwhile, the World Bank forecasts an increase of 47.9% for 2022 and 34.3% for 2023. This equates to a 98.6% GDP jump over the two-year period.

In comparison the IMF reports the Latin America and Caribbean average is approximately 3.5% in 2022 and 1.7 in 2023.

Bloomberg’s radio show featured an episode titled, “Guyana is the most exciting story in the world oil market”. In the episode, hosts shared the story behind Guyana’s meteoric rise in GDP growth and shared that since 2015 one in every  three barrels of oil discovered has been in Guyana. You can listen to the full episode here.

In the energy industry Guyana continues to be one of the most prolific provinces in the world and the Government in Guyana has consistently reiterated that the people of Guyana must benefit from the hydrocarbon sector. The International Energy Conference and Expo will play part in highlighting these issues. The theme for the conference in 2023 is Harnessing Energy for Development.

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