Page 8 - LatAmOil Week 18 2021

LatAmOil TRINIDAD AND TOBAGO LatAmOil

Ruby is a section of Block 3(a) within the Greater Angostura field (Photo: BHP)
Geraldine Slattery, BHP’s president for petro- the company’s staff.
leum, expressed satisfaction with the progress “Achieving first oil safely and ahead of
of the Ruby project. schedule reflects the true tenacity of the Ruby
“The start-up of Ruby represents continued project team together with our industry and
development of BHP’s oil and gas production government partners, who persevered to deliver
facilities in Trinidad and Tobago [and] re-en- this project amid a global pandemic,” he com-
forces the quality of the resource and its invest- mented. “This important milestone also high-
ment competitiveness,” she said. “An Ocean lights BHP’s continued commitment to doing
Bottom Node (OBN) seismic survey acquired business in Trinidad and Tobago, as we celebrate
by BHP and the Block 3(a) partners in 2018 was 25 years of operations here this year.”
utilised to illuminate and optimally position the The Australian company is developing Ruby
Ruby project development wells. This marks a through a joint venture with National Gas Co. of
significant milestone for our petroleum business Trinidad and Tobago Ltd (NGC).
and our future in Trinidad and Tobago.” It serves as operator of the venture and has
Michael Stone, BHP’s country manager for a 68.46% equity stake, while NGC owns the
Trinidad and Tobago, praised the hard work of remaining 31.54%. ™

GUYANA
President says Guyana will adopt new

model for awarding oil contracts

IRFAAN Ali, the president of Guyana, has public bid.”
announced plans to introduce a new model for Ali did not say exactly when Georgetown
assigning oil blocks to investors. might hold its first licensing round. However,
He explained that his administration was he indicated that the new model would come
moving away from direct negotiations with into force soon. In the meantime, he stated, gov-
international oil companies (IOCs) and would ernment officials have begun preliminary dis-
instead conduct licensing rounds. The bidding cussions on the question of whether any licence
contests will be much less opaque, with con- areas would remain in state hands. “Discussions
tracts awarded to the party that submits the are still ongoing,” he said. “It calls for a lot of
most attractive offer, he said. technical analysis on whether Guyana itself will
“We have made it very clear that the process retain some of those blocks for our own devel-
in awarding new oil blocks will be very much opment and to manage by ourselves, but that is
different,” the president commented. “It will be very preliminary.”
an open, public process, and when we get to that Members of Ali’s administration have criti-
stage it will be a public, open bidding process. cised former President David Granger’s practice
We will be looking for the best offer in an open of dealing with individual firms or consortia.

P8 www. NEWSBASE .com Week 18 06•May•2021