July 1st, 2019 – Georgetown, Guyana – A monthly regional publication, the Energy Caribbean Observer, has put the spotlight on Guyana in their June issue. A number of topics from political reporting to offshore developments are covered in the update.
Highlights include:
They provide a commentary on the recent ruling related to the motion of no confidence in the National Assembly of Guyana. The Caribbean Court of Justice (CCJ) declared the motion valid.
Payara, a discovery within the Stabroek block will have additional wells drilled by ExxonMobil to define the reservoir for future development. Payara sits close to Liza Phases 1 and 2, and is expected to produce 180,000 to 220,000 bopd from 35 to 45 wells.
Chatham House Fellow Dr. Valerie Marcel speaks extensively on the potential for Guyana to live through a green energy transformation, crucially dependent on government’s commitment to this development path.
Says Dr. Marcel, “We don’t know when oil demand will peak […]. What does this mean for Guyana? Essentially it means that it must reap benefits while it can, limit its dependence on the oil sector, invest in diversification, create long-term wealth and save for the future.”
Dr. Marcel’s op-ed contributes to a wider piece on the Guyana Oil and Gas Energy Chamber (GOGEC), the public-private government arm tasked with creating and regulating a sustainable framework for Guyana’s energy future.
Continuing the editorial theme on Guyana’s government, the June piece offers a critical assessment of Guyanese leaders’ vision at this time. Many countries fail to translate enormous oil wealth into long-term prosperity for local people. Operating in the transparent age of the internet, the global spotlight is on Guyana, and whether the oil wealth will be an enabler for an environmentally responsible, green future.
The Department of Energy continues to make headway with policy development and is hiring consultants for the World Bank-funded Guyana Petroleum Resources Governance and Management Project. The requirements for the roles have been well defined.
The June feature of the Energy Caribbean Observer contains further reporting on activities in the maritime and mining sectors, as aided and accelerated by the discovery of oil. The piece finishes with a brief assessment of the digital skills gap that must be closed for local people to be able to fully participate in the energy sector.
Read the full review here: http://bridgefield.org/guyana-27/
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