Page 8 - LatAmOil Week 50 2022
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LatAmOil                                         GUYANA                                             LatAmOil




























                               ExxonMobil and its partners will use the FPSO Prosperity to support development at Payara (Photo: SBM)
                         For its part, the deal acknowledges that Chinese   Eugene Okpere, Shell’s senior vice president
                         Investment Co. (CIC) will not play an active   and country chair for Trinidad and Tobago, also
                         role in the shareholder reorganisation process.   expressed satisfaction with the new agreement.
                         CIC had held about 10% of equity in Atlantic   He said he believed the deal would clear up
                         LNG’s first production train, and since this unit   uncertainty about Atlantic LNG’s future, thereby
                         is expected to remain offline for the time being,   removing obstacles to firms that are ready to
                         it is not a major driver of the group’s operational   invest billions of dollars in gas exploration and
                         plans.                               production in Trinidad and Tobago.
                           The reshuffle has been hailed by Trinidad   For instance, he speculated, it could help
                         and Tobago’s government, with officials in Port   attract investors to Manatee, Trinidad and
                         of Spain pointing out that the new ownership   Tobago’s section of a gas field that straddles the
                         structure is more streamlined and also likely to   maritime boundary with neighbouring Ven-
                         generate more budget revenue.        ezuela. Manatee holds about 2.7 trillion cubic
                           Prime Minister Keith Rowley has also noted   feet (76.46bn cubic metres) of gas and is part of
                         that the government will be able to market its   a larger structure, Loran/Manatee, that holds
                         own LNG on a global basis once the reorganisa-  another 7.3 tcf (206.7 bcm) of gas on the Vene-
                         tion is complete.                    zuelan side of the border. ™



       Guyana, CH4/Lindsayca sign EPC



       contract for onshore GTE facilities






                         GUYANA’S government has signed a contract   facilitating the transition to lower-carbon
                         with CH4/Lindsayca, a consortium formed by   energy sources and because it is the largest
                         two US firms, for engineering, procurement   investment scheme in which the Guyanese gov-
                         and construction (EPC) work on the onshore   ernment has ever participated, he remarked.
                         component of the Gas-to-Energy (GTE) project.  “This project is not only about the generation of
                           The EPC contract was finalised on Decem-  power and liquids ... Understanding the oppor-
                         ber 13 in Georgetown, at the office of President   tunities that this project will unlock for us as a
                         Irfaan Ali. The president witnessed the sign-  country, it is enormous,” he said.
                         ing, as did officials from Guyana’s Ministry of   Vice President Bharrat Jagdeo, who was
                         Natural Resources and GTE task force, as well   also present at the signing ceremony, agreed.
                         as representatives of the US Embassy and the   Together with new solar and hydropower initi-
                         US-based super-major ExxonMobil, which is   atives, the GTE project will help triple Guyana’s
                         leading the development of the oilfields that will   electricity generation capacity while also reduc-
                         supply associated gas for the GTE project.  ing harmful emissions by 70%.
                           Ali thanked all of the parties involved for   Jagdeo had informed reporters on December
                         working to wrap up the deal quickly. The   9 that Guyana’s government had finalised and
                         GTE project is sure to benefit the country by   approved the deal with CH4/Lindsayca.



       P8                                       www. NEWSBASE .com                      Week 50   14•December•2022
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