Oil exploration companies meet

tomorrow in US to update Guyana

Companies involved in offshore oil and gas exploration in Guyana are expected to update Government on its work during a critical meeting tomorrow in the United States.

Several oil companies that have exploration licences are set to give an update in the US of its work.

Minister of Natural Resources and the Environment, Robert Persaud, and Newell Dennison, Deputy Commissioner, Guyana Geology and Mines Commission will be attending the review, the Ministry said yesterday. The meeting will be chaired by Minister Persaud.
The annual meeting will be attended by both representatives of the incumbent and new companies entering the potential oil and gas sector of  Guyana such as Andarko Guyana Co., Repsol Exploration S.A., Ratio Oil Exploration Ltd., Esso Exploration & Production Guyana Ltd., CGX Energy Inc., Pacific Rubiales and Tullow Oil Plc.
Following the completion of the offshore wells, Jaguar and Eagle in 2012, companies have moved to renew their interest in Guyana’s offshore drive by submitting new applications for seismic acquisition and marine surveys.
New venture interests have been pursued and are in place for the next steps in Guyana’s quest to develop its hydrocarbon potentials.
According to the Ministry’s statement, the Government through the Ministry of Natural Resources and the Environment has been continuously working to establish a firm basis for putting in place the necessary legislation, regulations and other aspects of the institutional framework required for the efficient governance and development of the sector.
“This includes the development of the Petroleum Advisory Board which will be the guide for further advancement of the sector in Guyana.”