The company disclosed that it has already paid US$500,000 in 2024 and US$230,000 to date in 2025. “To maintain its rights under all of the agreements and be entitled to exercise the various options, the Company will have to make additional payments of US$675,000 in 2025, US$1,055,000 in 2026, US$1,380,000 in 2027 and US$80,000 annually […]
Eifler in an interview with Offshore Magazine earlier this month discussed offshore drilling trends, regional hotspots and his company’s role in the market. Guyana’s unmatched offshore success, particularly in the Stabroek Block has left quite an impression on the CEO and President of the London-based offshore drilling company. He was asked to comment on some […]
In a recent publication titled “The Mining Sector in Guyana 2025,” the ministry outlined the country’s competitive advantages, emphasizing its rich mineral resources, investor-friendly policies, and stable regulatory framework. According to the MNR, Guyana boasts a long history of mining and is situated in a geological environment conducive to the discovery of large mineral deposits. […]
EXTENSION VISIT | On the 19th & 20th March the Fisheries Department conducted extension visits to Villages in South Central and Deep South Aishalton,Churikidnau, and Sawariwau for an update on the Fisheries Project. Activities included Sampling of fish, mapping and water testing. See full Article Page Views: 100
The 2022 Report, recently published on the Guyana Extractive Industries Transparency Initiative (GYEITI) website noted Guyana’s failure to make significant progress on recommendations made by the body in previous reports. It states, “There has been little tangible progress in acting upon the recommendations made in the 2021 report, and in some cases in prior EITI […]
Back in January, GMIN announced that Guyana’s Environmental Protection Agency (EPA) granted an Interim Environmental Permit (IEP) paving the way for early construction. The EPA’s approval follows GMIN’s submissions of the Environmental Impact Assessment (EIA) and Environmental Impact Statement (EIS) for the Oko West Gold Project. According to GMIN the IEP, which is valid for […]
In an update on March 13, the joint venture said that they received a response from the government titled, “The Government is of the view that the Petroleum Agreement and Prospecting Licence are at an end.” It was further stated that the government made its position known that it, “hereby terminates the Petroleum Agreement and […]
Guyana and ExxonMobil expect oil production to jump to 1.3 million bpd by 2030, which would double the current output volumes. With higher production came a surge in Guyana’s crude oil exports in recent years. More than half of these are going to Europe, where refiners have been increasingly appreciating Guyana’s crude grades—Liza, Unity Gold, […]
In its most recent report for the year 2022, the transparency watchdog noted that the utilisation of revenues generated from extractive industries is an area which may be addressed by countries implementing EITI, to the benefit of their people. The EITI Board approved Guyana’s application to join the EITI at its meeting in Manila on […]
With more than US$14B therefore channeled towards the development of the additional projects approved in the Stabroek Block, stakeholders have constantly argued that such a scenario has made Guyana virtually an investor in the operations. When questioned on this state of affairs, President of EMGL, Alistair Routledge denied that the country was advancing money towards […]