Page 10 - LatAmOil Week 22 2022

LatAmOil GUYANA LatAmOil

It stressed that it had only done so after “careful start-up activities or under special circum-
consideration” of the track record amassed by stances, it stated.
Esso Exploration and Production Guyana Ltd Additionally, it requires EEPGL to pay the
(EEPGL) to date and explained that the new ver- sum of $50 for every tonne of carbon dioxide
sion of the permit would impose stricter limits equivalent (CO2e) emitted as a consequence of
on pollution and emissions. flaring in excess of permitted levels. (Under the
“The Liza Phase 1 Project was the first petro- previous permit, the fine had been set at $30 per
leum development project to have been permit- tonne of CO2e.)
ted in the Stabroek block,” the statement said. Furthermore, the EPA said, the new permit
“Progressing from the knowledge and experi- makes EEPGL liable for all costs associated with
ence gained during the course of this project, restoration, clean-up and compensation for any
the renewed permit specifies further condi- pollution damage that may take place as a result
tions and standards which will ensure that all of the Liza-1 project. It requires the ExxonMobil
environmental and social safeguards are taken subsidiary to provide financial assurance of its
for the protection of human health and the ability to cover these costs, including a combi-
environment.” nation of insurance coverage and parent com-
More specifically, the EPA said, the new per- pany guarantee agreements that will indemnify
mit takes a more restrictive stance on gas flar- the EPA and the government of Guyana in the
ing, which was a problem for EEPGL under the event that EEPGL and its partners fail to uphold
original permit because of unexpected technical their obliigations.
difficulties with the flash gas compressor (FGC) The EPA went on to say that the new permit
on the Liza Destiny floating production, storage also included provisions for the periodic and
and off-loading (FPSO) vessel. The document targeted monitoring of effluent discharges, as
“strictly prohibits” the routine flaring and vent- well as the establishment and maintenance of a
ing of associated gas and stipulates that flaring grievance mechanism that complied with World
is only permissible during commissioning or Bank standards. ™

SURINAME
Suriname planning to hold two additional

offshore licensing rounds by mid-2023

THE head of Staatsolie, the national oil company
(NOC) of Suriname, has said that his company
hopes to stage two additional offshore licensing
rounds by the middle of next year.
According to Annand Jagesar, Staatsolie’s
managing director, the first of the licensing
rounds will cover deepwater acreage. The com-
pany hopes to offer a number of deepwater
blocks in the eastern end of Suriname’s exclusive
economic zone (EEZ) to investors by the end of
2022, he told Reuters.
The second round will cover shallow-water
acreage, he added, without elaborating.
Jagesar did not say how many blocks would
be included in either licensing round. How-
ever, he did indicate that the sites would be sold
through competitive bidding processes.
“[At] the end of the year [2022], there will be The next round will cover the east end of the offshore zone (Image: Staatsolie)
a tender for the deep water ... particularly in the
eastern part of the deep offshore,” he told Reu- Block 7, one of the eight licence areas included
ters in a recent interview. “In mid-2023, we will in SHO.
come up with a tender for the shallow water.”
Suriname’s most recent bidding contest was Block 58 FID
the Shallow Offshore (SHO) bidding round, Jagesar also told Reuters that Staatsolie was wait-
which began in late 2020. Staatsolie signed a ing for TotalEnergies (France) to make a final
contract earlier this year with Chevron (US) for investment decision (FID) on Block 58.

P10 www. NEWSBASE .com Week 22 02•June•2022