Antigua Breaking News

Top Trusted News Source in Antigua

Search
Previous slide
Next slide

New oil discoveries in Guyana

Share this article:

Facebook
Twitter
Pinterest
LinkedIn

Guyana Wednesday announced that the US-based oil giant ExxonMobil had made two additional discoveries of oil offshore Guyana building on the previously announced estimated recoverable resource of more than five billion oil-equivalent barrels on the Stabroek block.

“This continues to be positive news for the people of the Co-operative Republic of Guyana, but the real substance of these finds will come when all Guyanese are able to benefit from these discoveries, whether directly and/or indirectly,” said the Director of Energy, Dr. Mark Bynoe.

The authorities said that the latest discoveries at the Tilapia-1 and Haimara-1 wells bring the total number of discoveries on the Stabroek Block to 12.

Tilapia-1 is the fourth discovery in the Turbot area that includes Turbot, Longtail and Pluma discoveries. Tilapia-1 encountered approximately 305 feet of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,786 feet in 5,850 feet of water.

The other discovery was at the Haimara-1 well, which encountered approximately 207 feet of high-quality, gas-condensate sandstone reservoir. The well was drilled to a depth of 18,289 feet in 4,590 feet of water. The authorities say it is located approximately 19 miles east of the Pluma-1 discovery and is a potential new area for development.

“The rate of these finds remains well above industry standards and continues to allow for further de-risking of the deep and ultra-deep one, but we still have a substantial way to go before we can confidently say the one has been de-risked,” Bynoe said.

Be part of the conversation.

Let us know what you think by adding a comment below. Click here to start now!

He said that the Noble Tom Madden drillship started drilling the well on January 7, this year and will next drill the Yellowtail-1 well, approximately six miles west of Tilapia-1 in the Turbot area. Baseline 4-D seismic data acquisition is underway.

“The Department continues to work assiduously with its partner institutions towards setting the requisite framework in place to ensure the benefits from these discoveries redound to the benefit of all Guyanese,” he added.

Guyana intends to begin commercial exploration next year.

Share this article:

Facebook
Twitter
Pinterest
LinkedIn

Join the Conversation!

Comments are closed.

REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]