Guyana Petroleum Summit set for May 9 in Houston, Texas

first_img– to feature oil and gas expertsSeveral companies and oil experts are slated to attend and provide their input during the Guyana Petroleum Summit, which will be held on Thursday at the Marriott Marquis in Houston, Texas.Companies such as Chevron, SBM Offshore, PRT Offshore, Manuchar, Technip FMC, EOG Resources, OEG Offshore Limited, Shell, Maersk, BHGE, Eni, Repsol, Stena Drilling, Marubeni Venezuela, Sanchez Oil & Gas, Tidewater, and PRT Offshore have already pledged their support.This event comes as Guyana is preparing for first oil in 2020, and some of these corporations are positioned to share their insight on the establishment of a regulatory framework and building new infrastructure to support the industry.So far, a number of Guyanese have been exposed to oil and gas training, but there are other challenges which lie ahead. Companies continue to advance their operations and prepare new facilities to support the sector. The Guyana Summit is also seeking to enable networking among new investors, independent oil and gas operators, contractors, and service companies.Speakers at the event include former Business Minister Dominic Gaskin; Global Geologist and Advisor of Dribus Geologic Consulting LLC, John Dribus; Tidewater Chief Operating Officer Jeff Gorski; former Petroleum Advisor of the Ministry of the Presidency, Jan Mangal and TOTALTEC Chairman Lars Mangal.Just a few days ago, ExxonMobil was granted approval to go ahead with its Liza Phase 2 development offshore Guyana, which will commence in mid-2022. So far, 13 of 15 prospects drilled have recorded a success rate of 86 per cent, which is equivalent to four times the industry average worldwide.The company stated that it has funded the Liza Phase 2 development at the cost of some US$6 billion, including a lease capitalisation cost of approximately $1.6 billion, for the Liza Utility Floating Production, Storage and Offloading (FPSO) vessel.The Liza Phase 2 will produce up to 220,000 barrels of oil per day and a total of 600 million from that development. For the Phase 2 development, six drill centres are planned, along with approximately 30 wells – 15 production, nine water injection and six gas injection wells.Nevertheless, the US oil giant noted that Liza Phase 1 remains on track to achieve first oil by the first quarter of 2020 and will produce up to 120,000 barrels of oil per day at peak rates utilising the Liza Destiny FPSO, which is expected to arrive offshore Guyana in the third quarter of this year.Meanwhile, as the deadline to get registered for the one-off conference looms, persons are reminded to do so as early as possible by visiting the registration page.BRBKT4 Stena Carron oil drill ship at geo-stationary mooring in Bressay Sound, off Lerwick, Shetland Islands.last_img read more