Jagdeo & Ramotar..... We have done so much with so little, so we are now qualified to do anything with nothing!

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Former Member

Wednesday, April 6, 2011

Guyana to get oil refinery

Standing from left to right are Director of Finance at Prime Energy, Carlos Villegas; Director of Energy Systems at Prime Energy, Raul Arrondo and International Director of Prime Energy, Vidjai Doerga while seated from left to right are Sergean Elias, Project Manager, CEO of Chemex, Jerry Brooks and International Director of Prime Energy and Chemical LLC, Dr Turhane Doerga.

A US-based consortium has plans to build Guyana’s first oil refinery in the next 18 months, to provide cheaper fuel in an initial investment estimated at US$75M.

“It is expected that within 18 months, an estimated US$75M will be spent to establish the facilities which will also be providing over 100 jobs and ultimately see cheaper fuel for Guyana," said a statement from the companies, Prime Energy and Chemical LLC, Kuai Energy Systems and Chemex LLC of the US.

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Former Member

Oil refinery investors bring exciting news to President

Wednesday, 06 April 2011 23:03

THE United States based petroleum company, Prime Energy LLC- Caribbean, is hoping to make history with the establishment of the first ever oil refinery in Guyana, and the investors brought news about their plans to President Bharrat Jagdeo yesterday. Among those in the visiting delegation were President of Prime Energy Jerry Brooks, company representative Vijay Doerga, and members of the company’s board. Prior to their meeting with the Head of State, the delegation met at an information session with stakeholders at the Princess Hotel. Prime Minister Samuel Hinds was at the meeting.

President Bharrat Jagdeo in discussion with officials of Prime Energy

The company is pursuing the venture in partnership with Kuai Energy Systems and Chemexllc, and has signalled its intention to recruit 100 Guyanese to work with the company when it becomes a reality. Doerga gave the assurance that “tonnes of jobs,” will be awaiting Guyanese after the establishment of the project which, the company predicts, will be subject to much cost and complication. Foundation work is scheduled to commence in another six months with a period of 18 months time-tabled for the project to come on stream with an investment scale of US$75M. In an invited comment to the Government Information Agency (GINA), Brooks explained that the refinery is a modular mini refinery with a capacity to hold 20,000 barrels daily. Manufacturing of major elements on the refiners will be done in the United States and then shipped to Guyana for installation. Brooks explained that this approach will be taken to avert any factor that may stymie the project completion duration, such as inclement weather. “A large typical refinery today can take up to seven years to build… and most people have the concept that they can’t build a smaller refinery because they have all these big markets that they want to supply. We’re looking for a small market to supply,” Brooks said. He further explained that the interest to establish a refinery in Guyana was stimulated by the fact that several countries around the world are looking to 20,000 barrels a day refineries for their countries, given the high cost incurred to transport crude oil to the United States for refining. Doerga explained that the conglomerate will be sourcing its crude oil from companies in the region in the initial phase, but will also forge ties with local exporters. Prime Energy is an independent oil and gas company with a mandate to acquire, develop and produce oil and natural gas through small- scale oil refinery technology. (GINA)

Last Updated on Wednesday, 06 April 2011 23:05

5/19/135:11 PM

Former Member

Guyana’s Promise of Oil and Gas

Guyana has a great deal of promise in oil and gas, says energy executive

Published on January 28, 2012

GEORGETOWN, Guyana (GINA) — The largest independent oil and gas company in the United States, Anadarko Petroleum Corporation, regards Guyana as a country with a great deal of promise in the oil and gas sector.International business developer of Anadarko, Richard Lapin, accompanied by another official of the company and the head of the Petroleum Unit of the Guyana Geology and Mines Commission (GGMC) Noel Dennison, met President Donald Ramotar to renew its interest in petroleum exploration in Guyana. Minister of Natural Resources and the Environment Robert Persaud also joined the meeting.

Last September, vice president, business development of Anadarko, Ian Cooling, led a delegation to former President Bharrat Jagdeo to signal the company’s interest in what is ranked one of the highly underexplored basins in the world.Lapin said that although there is much preliminary work still to be undertaken, the oil and gas outlook in Guyana is positive.

Anadarko had embarked on a geological assessment of the region in its frontier quest and believes that its technical and financial capacity will be a value added to the emergence of the oil and gas sector on the local shores.

The Guyana government had also received a proposal from Prime Energy LLC- Caribbean, a US based petroleum company, to construct the first ever oil refinery in Guyana, which officials say will create employment opportunities for approximately 100 persons.

President of the company Jerry Brooks had explained that the interest to establish a refinery in Guyana was stimulated by the fact that several countries around the world are looking to 20,000 barrels a day refineries for their countries given the high cost incurred to transport crude oil to the US for refining.

Meanwhile, several internationally renowned oil exploration companies are on the hunt for oil in Guyana’s territorial waters, which is considered the second most attractive under-explored basin in the world.

Repsol, a Spanish company, is exploring through a joint venture with Tullow Oil, a London-based Company, CGX of Canada and YPF for the drilling of the Jaguar well.

The ExxonMobil/Shell joint venture is pursuing a drilling project on a deepwater offshore block and has since shot a large seismic survey, which is soon to be examined as a guide for the future.

5/19/135:28 PM