ExxonMobil makes contributions to Guyana’s forest conservation and online education programs, as global oil companies begin discussing the importance of a balanced, sustainable energy mix.
This week in Guyana’s Energy Sector:
As the operator of the Stabroek block offshore Guyana, initiatives by ExxonMobil to mitigate the effects of climate change are important for Guyana to understand. ExxonMobil announced a major breakthrough in atmospheric carbon capture technology this week, signing a joint development agreement with Global Thermostat to develop the technology.
ExxonMobil temporarily reduced output last week, and is working to fix compression equipment on the Liza Destiny FPSO, in an effort to reduce gas flaring. “ExxonMobil’s commitment to minimizing the environmental impact of its projects is reflected by our design of the Liza Destiny and Liza Phase 1 project. Our operations in Guyana will not utilize routine flaring,” a spokeswoman confirmed. Production has been restored to 80,000-90,000 barrels per day, after falling to 25,000 barrels per day.
The International Monetary Fund has advised Guyana that participation in the oil development offshore is best accomplished via a State Holding Company, avoiding the complications and regulations around creating a National Oil Company, whilst still enabling significant influence in the development of the energy sector.
Another operator playing a significant role in the development of Guyana’s energy sector, Hess, echoed the recent ExxonMobil commitment to a more sustainable energy mix. Hess CEO John Hess confirmed that climate change is “probably the greatest scientific challenge of the 21st century”. The CEO was quick to note that addressing the challenges presented by climate change require both climate literacy and energy literacy.
The IEA Global Energy Review 2020 estimates the impact of COVID-19 on global energy demand will be significant, reducing demand for oil on a global scale.
The Iwokrama International Centre (IIC) has received an additional GY$50 million from ExxonMobil Guyana, for a five year science strategy that will fund key investments to protect tropical forests.
The Rotary Club of Stabroek has teamed up with BrainStreet, providing free online tutorials for students in Grades 4, 5 and 6. The initiative is supported by a GY$15 million contribution by ExxonMobil Guyana to support local education initiatives and maintain lessons during the pandemic.
Jobs & Tenders to Watch Out For:
GYSBI is recruiting for a technical maintenance manager. You can apply directly to GYSBI by visiting their website, https://www.gysbi.com/
ExxonMobil is looking for recruitment services in Guyana. The Request for Information closes today, and all companies must be registered with the Center for Local Business Development.
Guyana Deep Water Operations Inc., a subsidiary of SBM Offshore, often presents opportunities on their Facebook page dedicated to Guyana. The most recent example was for Auditing Services for Technical & Financial Review of Construction Cost. (Due date past)