Page 6 - LatAmOil Week 40 2022

LatAmOil GUYANA LatAmOil

Georgetown to issue EoI for refinery

project soon, says President Ali

GUYANA’S government appears to be moving energy markets, including the conflict between
closer to making a decision on proposals for the Russia and Ukraine and the resulting rise in
construction of a refinery capable of serving the petroleum product prices. Officials in George-
domestic fuel market. town believe Guyana will be in a better position
According to Guyanese news agencies, Presi- to ensure its own energy security if it establishes
dent Irfaan Ali said on October 4 that his admin- downstream capacity, he explained.
istration would invite potential investors to put “I think it is very important for Guyana to
their names forward in the near future. After lis- look at how it can sustain itself in the long term,
tening to private sector stakeholders’ arguments and I think the refinery is just one more step of
in favour of a refinery for more than two years, us looking at our needs in the near future,” he
the government has decided to look for a part- commented.
ner in the construction of a 30,000 barrel per day The South American country is entirely
(bpd) oil-processing plant, he said. dependent on imported fuel. It became an
“We are looking at the launch of an expres- oil producer in late 2019 but does not have
sion of interest [EoI] for a 30,000 [bpd] refin- any domestic crude-processing capacity.
ery. This expression of interest will be launched GuyEnergy, a locally registered company, did
soon,” he said at a ceremony marking the ISO moot plans for the construction of a 30,000 bpd
9001 certification of the Guyana Office for modular refinery in 2018 but never made any
Investment (GO-Invest). headway on the project. ™
Ali did not say exactly when the government
would issue the EOI, but he indicated that the
project would be open to both foreign and local
investors. “You will see new expressions of inter-
est coming out soon, and we are asking investors
across the world to participate fully,” he stated.
Peter Ramsaroop, the chief investment
officer of GO-Invest, said at the ceremony on
October 4 that Georgetown had not yet deter-
mined exactly what form the refinery should
take. The plant will probably be built according
to a modular design, though the specific detail
will be left up to the investor chosen to execute
the contract, he added.
Ramsaroop also commented that George-
town’s decision to build the refinery had been
influenced by recent developments on world Ali discussed the project at a GO-Invest event (Photo: GoInvest.gov.gy)

Guyana seeks consultant

for review of Uaru FDP

THE government of Guyana said last week that submit formal expressions of interests (EoIs) to
it was searching for a suitable consulting firm to the Guyanese government in order to be consid-
review the Uaru field development plan (FDP) ered for the project.
prepared by Esso Exploration and Production In order to be considered for the role, can-
Guyana Ltd (EEPGL), the ExxonMobil (US) didates will be required to provide Georgetown
affiliate that operates the offshore Stabroek with evidence of their qualifications and rele-
block. vant experience in similar projects or work per-
Interested parties have been instructed to formed under similar conditions.

P6 www. NEWSBASE .com Week 40 05•October•2022