As Guyana’s oil and gas sector continues to grow, the legislative framework is concurrently evolving. Attorney General Anil Nandlall SC recently announced that the government is in the process of crafting a crucial Oil and Gas Operations Bill. This new legislation aims to address the downstream activities emerging from the country’s natural gas developments.
Nandlall noted the significance of the ongoing gas-to-shore project, which is expected to be completed by the end of the year. This initiative is part of a broader strategy to build Guyana’s energy capabilities, leveraging its substantial natural gas resources alongside its burgeoning oil industry.
Guyana has emerged as a global oil hotspot, boasting over 11 billion barrels of oil equivalent resources in the Stabroek Block offshore. Recent appraisal efforts have further revealed considerable natural gas reserves. Notably, approximately 50 million cubic feet per day (mcf/d) of gas will be supplied to the mega energy project at Wales, West Bank Demerara, aimed at generating reliable power for the nation.
The government is actively promoting this initiative as a means to provide cheaper, cleaner, and more dependable energy, addressing long-standing energy challenges. In addition to the energy project, plans for a Natural Gas Liquids (NGL) facility are underway, which will enable the production of cooking gas and support the development of auxiliary projects, such as a fertilizer plant.
Furthermore, a second gas project in Berbice is also being pursued, signaling the government’s commitment to tapping into its natural resources.
Nandlall emphasized that the rapid developments in Guyana’s oil and gas sector necessitate legislative advancements. Alongside the Oil and Gas Operations Bill, a comprehensive Environmental Act and a Solid and Liquid Waste Management Bill are also in development to ensure responsible resource management and environmental protection.
