Guyana looking to tap into Qatar’s petroleum expertise

0

As Guyana prepares for its budding oil and gas industry, the Government is looking to capitalise on the State of Qatar’s vast expertise in the petroleum sector.

This was indicated by President David Granger as he accepted the Letter of Credence from the new non-resident Qatari Ambassador to Guyana, Ahmed Ibrahim Abdulla Al-Abdulla.

“Guyana is keen on enhancing partnerships with experienced oil producers such as Qatar. I am confident that your appointment as Ambassador will provide opportunities for fruitful discussions and exchanges in the oil and gas sectors of both our countries,” President Granger asserted.

The Middle Eastern nation, which has oil reserves of over 20 billion barrels and an advanced economy, has long expressed interest in Guyana’s budding oil and gas sector. In fact, the State-owned Qatar Petroleum has bought a percentage of French oil major, Total’s share of its existing interests in the Orinduik and Kanuku blocks offshore Guyana.

The Orinduik oil block is just a few kilometres from Exxon’s discoveries in the Liza and Payara fields.
Eco Guyana and United Kingdom’s Tullow Oil signed a 10-year Petroleum Prospecting licence and Production Sharing Agreement with Guyana in 2016 for the Orinduik block. French firm Total E&P Activities Petrolieres entered the fray in 2017, partnering with Eco with the option to get a 25 per cent share in the block.

Qatar Petroleum has since reported in July that it struck a deal to acquire 40 per cent of Total’s 25 per cent participating interest in the Orinduik block, and 40 per cent of Total’s 25 participating interest in the neighbouring Kanuku block.

However, Director of the Energy Department, Dr Mark Bynoe, has said that they are yet to receive the necessary documents regarding this farm-in deal from Total.