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Capping stacks are brought to the site of a spill following the failure of a blow-out preventer (Image: GAO.gov)
However, the equipment will be much closer – Capping stacks were invented following the
and therefore much easier to deploy in the event explosion of the Deepwater Horizon drilling rig
of a major spill in the offshore zone, he said. at the Macondo prospect in the US section of the
Bharrat also indicated that Guyana would Gulf of Mexico in April 2010. They are designed
make the capping stack available to other oil and to serve as a second line of defence when stand-
gas-producing states in the region. “What we are ard containment systems fail, including blow-
doing is establishing Guyana as a hub, because if out preventers (BOPs), and they are the main
an oil spill occurs in any of those countries, we component of a system that halts or redirects the
can also be affected. This capping stack could be flow of hydrocarbons from a blown-out shaft so
deployed to any one of those countries should that clean-up crews can cap the well.
a spill occur. So we brought that in country,” he The units are stored onshore rather than kept
explained. on site. ™

Guyana’s oil revenues likely to top

$1bn this year, Rystad Energy says

RESEARCH by Rystad Energy indicates that
Guyana’s oil revenues are likely to exceed the
$1bn mark this year and could surge to $7.5bn
per year by 2030.
According to the Oslo-based consultancy,
Guyana’s oil revenues should surge to $4.2bn in
2025, before slipping to $2.4bn in 2027 due to an
expected drop in oil prices, as well as continued
spending on development of the Stabroek block.
After that date, however, revenues are predicted
to rebound, as new projects are sanctioned,
reaching a projected peak of $16bn in 2036.
The industry-leading development of the off-
shore Stabroek block by ExxonMobil (US) will
be the driving force in this revenue increase. The Stabroek projects are likely to be the main source of oil revenues (Image: Hess)
block’s vast offshore reserves, which are esti-
mated at more than 11bn barrels of oil equiv- producer into a global oil powerhouse.
alent (boe), are anticipated to help the South At the same time, though, Guyana is taking
American nation boost its earnings quickly, great pains to minimise the carbon intensity of
consolidating its transformation from a new its oil and gas development efforts.

P8 www. NEWSBASE .com Week 30 27•July•2022