Local officials participate in U. S. – sponsored oil exploration workshop

Guyanese Officials have been sharpen ing their skills in the management of oil and gas resources, as the United States Embassy here spon sored a two- day workshop to this effect. The workshop, led by the U. S. Department of Interior, Bureau of Ocean Energy Management, Regulation, and Enforcement ( BOEMRE), was held at the Pegasus Hotel on May 10- 12.

Titled “ Managing Offshore Oil and Gas Resources”, it attracted ap proximately thirty officials from a wide cross- section of government agencies, ac cording to a joint statement released on Friday.

The United States has partnered with the govern ment of Guyana under the Energy Governance and Capacity Initiative – a U. S. Department of State- led global effort to provide a range of valuable technical support to the governments and institutions of selected countries that are expected to become emerging oil and gas producers.

Through the Energy Governance and Capacity Initiative ( EGCI), Guyana has access to the U. S. gov ernment’s top experts, along with their global ex pertise on issues related to petroleum geology, licens ing, exploration and pro duction operations, revenue management, policy reform, regulation and implemen tation, and energy sector fi - nance and taxation.

EGCI also provides the benefit of building both high- level and working con tact networks to provide unbiased, sound advice and guidance, as well as lasting relationships that can fur ther long- term institution al stability, sector develop ment and governance.

The workshop provid ed the participants a with a comprehensive over view of the responsibili ties and activities of the Bureau of Ocean Energy Management, Regulation and Enforcement in the United States. Participants also engaged in detailed dis cussions of how issues rele vant to Guyana’s offshore oil and gas sector are han dled in the United States, including geologic and eco nomic modelling; reviewing, authorising and inspecting exploration and production infrastructure; and envi ronmental review and com pliance.

Support such as this will go a far way to assist Guyana, the new kid on the block as it relates to offshore drilling. The Takutu Oil and Gas Inc and Canadianbased CGX are two compa nies that have started ex ploration here.