Even with several oil ships, Guyana will still store more carbon than it emits

GUYANA is aiming to balance its low-carbon, sustainable development pursuits with the development of its profitable oil-and-gas industry and even as it does so, the country will continue to store more of the harmful gases than it emits.

This is according to Pradeepa Bholanauth, the Senior Director for Climate and REDD+ at the Ministry of Natural Resources, who spoke about Guyana’s updated Low Carbon Development Strategy (LCDS) during a recent virtual forum.

As per this strategy, Guyana plans to maintain its forests, continue its advocacy for greater earth-saving climate actions, pursue more renewable energy projects and secure financing for low carbon development and sustaining livelihoods.

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ExxonMobil Guyana tests spill response readiness

ExxonMobil Guyana disclosed on Tuesday that it recently conducted an exercise to field test spill response equipment, processes, and team readiness. It said this exercise was intended to ensure readiness to respond in the unlikely event of an offshore oil spill while utilizing available resources such as in-country personnel, vessels, and response equipment.

In a brief comment on the crucial exercise, ExxonMobil Guyana President Alistair Routledge said, “Our approach to emergency response is to prevent, prepare and practice. Prevention is our primary objective but training for potential scenarios is also an important component of that approach.”

Routledge added, “Through robust training and exercises, utilizing advanced technology, we ensure our response teams and stakeholders understand their roles and responsibilities and are ready to respond.”

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Achieving the goals of local content will see continued progress for Guyanese and local companies, Chief Executive Officer (CEO) of oil giant ExxonMobil, Darren Woods has stated.

He said Esso Exploration and Production Guyana Limited-the local ExxonMobil affiliate, has made progress in advancing local opportunities for the people of Guyana. To date, there are now more than 3,500 Guyanese and 800 local suppliers supporting ExxonMobil’s activities.

He shared his perspective during his keynote presentation to the International Energy Conference and Expo on Tuesday, at the Marriott hotel, Georgetown.

“And, through our partnership, we remain committed to making further advancements,” Woods noted of his company’s investment here.

The Local Content Bill, passed in the National Assembly recently, lays out 40 different services that oil and gas companies and their subcontractors must procure from Guyanese companies by the end of this year.

For instance, these companies must procure from Guyanese companies, 90 per cent of office space rental and accommodation services; 90 per cent janitorial services, laundry and catering services; 95 per cent pest control services; 100 per cent local insurance services; 75 per cent local supply of food; and 90 per cent local accounting services. These are just a few of the services highlighted in the first schedule of the Local Content Bill.

Meanwhile, Woods recalled the Greater Guyana Initiative, a ten-year, $100 million commitment by the Stabroek Block co-venturers to support local capacity-building programmes. The first phase is funding significant expansion of the Centre for Local Business Development through technical, education and training programmes, and more recently, support to the University of Guyana.

“We’re hopeful that these efforts will continue to expand the growing opportunities for Guyanese workers. This is an impressive result, and there are many to thank, including the Government of Guyana, our partner companies and key contractors. and many Guyanese businesses and organisations. That’s the focus of the gas-to-energy project, the Greater Guyana Initiative and other efforts to develop capacity and maximise local content,” the CEO stated.

The gas-to-energy project, set to come on stream by 2024, will transport up to 50 million cubic feet of natural gas per day, by pipeline, from Liza Phase 1 and 2 to processing facilities onshore. This new domestic natural gas supply, would provide a lower-emission source of energy and reduce the cost of electricity in Guyana by 50 per cent.

The CEO said the company is working with the government on this project and expects to see significant progress.