Guyana Cabinet Briefed on Oil Sector Management

Instant Max AI

(Guyana Government Information Agency, 4.Sep.2015) – Minister of Governance, Raphael Trotman, has briefed Cabinet on the strategic, legislative, regulatory and institutional arrangements for the management of upstream activities in the Petroleum Sector.

This disclosure was made by Minister of State, Joseph Harmon, who briefed the media on the deliberations of the last meeting of Cabinet. According to Harmon, the policy as explained by Minister Trotman, is geared towards attracting and securing investments in upstream operations activity in the oil and gas sector in Guyana. It relates specifically to activities involving petroleum production, storage, refining, and marketing of these products.

The overall objective of this initiative is to place significant emphasis on ensuring that all the necessary arrangements be put in place for the effective and efficient development of the sector

Minister Harmon further advised that the Commonwealth Secretariat had already provided some assistance in this regard and assistance will be coming from other international agencies.

“It is a matter of for us to now agree on an updating on that policy, the UNDP has also offered technical cooperation and assistance, by providing us with some experts who are likely to come to Guyana in October to assist us in this work,” Harmon said.

Earlier this week, a team from ExxonMobil met with Minister Trotman and provided their continued commitment to proceed from the point of exploration to production of oil and natural gas. Trotman holds ministerial responsibility for natural resources.

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