As the 2023 International Energy Conference and Expo came to a close, the government hailed the occasion as a huge success, with the Finance Minister, Dr Ashni Singh noting that it provided a platform for local, regional, and foreign businesses and investors to network and even form partnerships in the Energy Field. He indicated that not only did the event bring together Heads of Government, policymakers, academics, and industry professionals but also businesses, entrepreneurs and investors, who were presented with the ideal opportunity to network and explore opportunities for development within the Energy Sector.

“The expo presented a fantastic opportunity to showcase the rapidly changing face of the Private Sector of Guyana because you had not only the traditional big names and the traditional big players who you would expect to be there but you saw a number of companies, some of which are completely new, some are local, some regional, some are international being able to convey here again to this audience and a much wider audience, what they are already doing in Guyana and with Guyana,” Dr Singh said.

“A lot of people clearly took advantage of the opportunity to introduce themselves to potential partners, potential clients and customers, and I would want also to characterize that as an extremely positive thing.

I know that many people met new counterparts for the first time, they were able to introduce themselves, talk about what they’re doing, explore possible opportunities for partnerships, and I think the conference, and in particular, the activities on the margins of the conference, whether it was the coffee breaks, or the receptions that were held in the evenings, or the privately arranged bilateral contacts that the people engaged in, I think that was also hugely successful stream of engagement,” he said.

The Minister of Natural Resources, Vickram Bharrat also applauded the organizers behind the International Energy Conference and Expo, as he too dubbed it one of the biggest Energy Conferences in Latin America and the Caribbean.

Minister Bharrat said he was pleased to see local companies rising to the bar, and competing with and regional and international companies in the Energy Sector, and he was happy with the focus on clean and affordable energy.

“We have no issue with that, as a country we are fully committed to achieving that, we’re working towards achieving that. But the big question is, how are we going to truly finance that? Renewables, costs money; moving to net zero, costs money; cutting emission, costs money. So, how are we going to truly achieve that? If we’re going to sit by and wait on help to come our way, we might be waiting for a long time. So, it speaks towards Guyana as a country sustainably and responsibly exploring and developing its natural resources, at the same time, we are maintaining our environmental credentials,” the Natural Resources Minister said.

Referencing to the need for a balance and efficient energy mix, Minister Bharrat also stated that developing countries such as Guyana should be at the forefront of the supply chain.

“We strongly believe that fossil will not disappear completely. They will still remain even if it’s a small demand for fossil, it will still be there, the need for it will still be there. But the big question, is who will be able to supply it?… We are saying that small developing countries like Guyana, like Suriname, like Trinidad, like the African countries…who have made new discoveries, that we should be able or we should be allowed to supply that small demand that remain,” Minister Bharrat said.

Overall the Conference and Expo saw close to 1,000 delegates in attendance and more than 200 exhibitors on show.

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.

Green light for construction of a 300mw natural gas-fired power plant in Guyana

Nov 10, 2022

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.”




Canada/Guyana Chamber of Commerce signs MoU to propel Guyana’s energy sector

Mar 03, 2023

The International Energy Conference and Expo 2023 has generated a great deal of worthwhile interactions and partnership prospects, which the government expresses satisfaction with.

Canada/Guyana Chamber of Commerce (CGCC) signed a Memorandum of Understanding with Energy NL, which will serve as a platform to better engage business interests between the energy company and the wider Guyanese business community. The signing took place on the sidelines of the conference. CGCC Chairman, Anand Beharry said the agreement now amplifies other engagements which were already established. “There is extensive business participation in the Guyana market by Newfoundland companies. With this agreement, we hope to accelerate those engagements,” Beharry stated. Energy NL was founded in 1977 to represent the supply and service sector of the energy industry. Today, the energy company represents over 460 member organisations worldwide which are involved in or benefit from, the energy industry of Newfoundland and Labrador.

The CEO emphasized her commitment to sharing Energy NL’s experience and knowledge with Guyana’s stakeholders by comparing this change to that of Guyana.

“I am pleased on behalf of Energy NL to enter into this Memorandum of Understanding with the Canada- Guyana Chamber of Commerce, so that we can both take advantage of our shared experiences, our know-how and the desire to succeed for the mutual benefit of our membership. The opportunity here in Guyana is inspiring, I am thrilled to finally be here to see it and experience it. I look forward to helping Energy NL and our members to play a role in Guyana’s success,” she noted.

Additionally, a number of financial institutions have endorsed the conference and the government’s objectives. Scotia Bank Guyana’s Seugobin Sugrim noted that the bank was excited to have invested in the activity to connect with customers and establish new relationships. Similarly, Vice President of the Caribbean Development Bank, Isaac Solomon noted that the theme “Harnessing Energy for Development” was highly appropriate for the conference given that energy is the driving force of the modern economy.

Chairman of the NewHayven Merchant Bank, Floyd Haynes said the bank was created to bridge the capital gap of where Guyana is and where it needs to be. “If you look at where Guyana is, and where the leaders want to take the country, it is clear that there is a finances gap. Some of those monies will come from traditional institutions like Scotia bank, multilateral lending institutions like CDB, but a lot of it will be capital that will come from banks like The New Hayven Merchant Bank,” he said.

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