Importance of sharing accurate info on Guyana’s burgeoning oil and gas industry

first_imgDear Editor,In an article that appeared in the Kaieteur News on Sunday, June 10, which quoted Charles Ramson Jr, it was suggested in the report that the Gy$10 billion spent in Guyana with local companies is minuscule. The article was just shy of suggesting that we take to the streets to protest the supposed injustice.Some facts we should be aware of: Liza Phase-1 is expected to cost just over US$4.4 billionhttp://news.exxonmobil.com/press-release/exxonmobil-makes-final-investment-decision-proceed-liza-oil-development-guyanaGuyana’s oil and gas industry is still in the upstream phase of activities. Most of the oil and gas activities in Guyana are still centred around exploration, and we are now transitioning to the production stage. (still in upstream)Upstream activities usually require highly specialised knowledge, experience, skill-sets and equipment.To date, a large portion of the expenditure for Liza project would have gone to foreign companies that would be undertaking large sections of the project.One prominent example would be SMB Offshore, contracted to design the floating production, storage and offloading (FPSO) vessel, and Keppel Shipyard that will execute the conversion of the very large crude carrier (VLCC) tanker.This part of the project alone is expected to utilise close to 50% of the total project cost. Also, TecnipFMC, the company contracted to install the sub-sea equipment, would take another significant chunk out of the US$4.4 billion projected to be spent on the Liza Phase 1 development.It should be noted that TecnipFMC has recently hired 10 engineering students from the University of Guyana for the Technical Services Personnel Apprentice programme. The students are currently receiving technical training in the US and Brazil. Two of the students were back in Guyana during the GIPEX Conference.[https://www.facebook.com/exxonmobilguyana/posts/368056343648872]Daily rig rates were as high as US$600,000 a few years ago, but have been reduced somewhat in the past few years, and currently stand at around US$200,000 daily.The Stena Carron was recently joined by the Noble Bob Douglas drillship, increasing the number to two drill ships operating offshore Guyana.While this area of activity may not send dollars directly into the pockets of Guyanese, since they also fall into the category of upstream activities, many Guyanese are already benefiting. The Stena Carron employed several Guyanese previously, and the Bob Douglas was recently staffed with a crew of 30 Guyanese.Several Guyanese companies are also already engaged with provisions for the supply vessels.[https://ihsmarkit.com/products/oil-gas-drilling-rigs-offshore-day-rates.html]Our O&G industry is different in many ways from our neighbours in Trinidad and Tobago and some developments further afield. The Liza field is in (ultra) deep-water, whereas, in Trinidad, most of their discoveries were much closer to shore.The location of the field and the method of extraction mean we will need fewer rigs, and therefore fewer personnel, fewer supplies, etc.However, to give some context regarding the number of wells vs returns, the CEO of Hess recently said 8 wells at Liza will produce more oil than Delaware Basin’s 1,400; the 120,000 bbl/d of Liza will top the Delaware Basin’s 1,400 wells and peak oil production of 86,000 bbl/d.Mr. Ramson, with his newly acquired tertiary education in the field of oil and gas, should certainly be aware of these intricacies.As we move into the mid- and downstream activities, there should be a lot more engagement with local companies; and further, more Guyanese should be employed — not necessarily directly by Exxon, but by the companies that will be servicing these areas.It has been discussed ad nauseam that the population will benefit from the boost in cash flow in the local economy, as the demand for existing products and services increase, and the demand for new services and skills grow. This will be boosted further by significant capital expenditure by Government on infrastructural projects, etc.It is in the national interest that we provide accurate information to the population.Sincerely,Michael A Leonardlast_img read more

LBA Fails to Rush Elections; Congress, Elections Feb. 17 & 18

first_imgPerhaps the Liberia Basketball Federation is working against itself; for the second time, LNOC and Youth and Sports oficials have quashed the association’s rush elections set for February 6.The new dates are: Congress February 17, and Elections February 18. Information reaching the Daily Observer last night said, “Elections will go on after deliberations at the Congress are done.” It means that the elections’ date could be extended if the need arises, a source said.After a lengthy dialogue at the Ministry of Youth and Sports, and LNOC officials yesterday, LBF officials were made to see the reason they should not have a congress and an election the same day, as planned.“They were told that Congress is an assembly,” said an official who was at the meeting and asked not to be named, “and therefore properly, the administration must provide a four-year financial and administrative report to the body for discussion.”LNOC president Philibert Brown was reported to have put his foot on the ground, recommending for the Rufus Anderson’s administration, whose tenure expired last November, to provide one year financial and other administrative report for Congress’ deliberations.“The elections are long overdue,” he was quoted as saying, “and therefore to demand a four-year report might delay them.”Outgoing president Anderson was reported to have said, “I concur to what Mr. Brown has recommended.”“The administration has been mandated to provide the documents to all club presidents for their review on February 2,” according to sources at the association.He said, “I think it is victory for those of us who have seen major leadership problems in the administration of basketball in the last four years.”Having won the first round of their cause, club presidents are demanding that the Elections Commission must set guidelines that allow for any club president or owner who desires to run for the leadership.And perhaps this is where the problem is. The administration has reportedly observed potential candidates that could sweep victory election day, and therefore it has been influencing guidelines to deny others from running.“We are determined to correct this,” another club president told the Daily Observer.Another problem the Anderson administration has condoned is the use of double names for the association: According to its Constitution, it is: the Liberia Basketball Federation, a copy of which is with the Daily Observer but official communication has: Liberia Basketball Association.“That in itself is against the Constitution,” a club president said.A second copy of a document circulated by Secretary General D. Allen Goodridge about the now cancelled Feb. 6 elections named a three-member commissioners instead of an election commission.Those named are Mr. Jerome M, Hodge, chairman, with members Ms. Sussie Hayes and Mr. John P. Sheriff. “This was hurriedly done by the administration when many club presidents raised issues in the first circular of January 10,” he said.Youth and Sports and LNOC officials insisted that the proper thing to do, in line with its constitution and not those of the Federation of International Basketball Association (FIBA) is to use its own guidelines.“Mr. Brown told the outgoing administration to use its Constitutional provisions and not that of FIBA,” our source said.What then becomes the use of double names for the association?“Since the Constitution calls it LBF,” said another official, “why does Anderson’s administration refers to the body as LBF/LBA?”In the end club presidents who have said Anderson administration has outlived its usefulness will not relent until what one of them hopes must come to pass for the old administration happens.“We want basketball to take a new but positive course and we can achieve that only when we allow any owner and club president who desires to run in the forthcoming election do so without obstruction.” This is a challenge to Rufus Anderson’s re-election bid and as to whether he sees himself losing an election that his administration is determined to deprive others to run will be seen in the weeks to come.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Compensation offer ‘an insult’ to boxer who quit sport after assault – Judge

first_imgA Donegal man has been advised to make an improved offer of compensation to a young boxer who has had to give up the sport due to injuries he sustained in an assault.Dean Hanlon was before Letterkenny District Court charged with an assault on Matthew Hanlon at the Lagoon Bar, Termon. Matthew Hanlon told the court that he had been due to represent Ulster in a boxing tournament against a team from Boston at the time of the assault in 2015.“I had to leave boxing…I withdrew as a result of the injuries,” he told Judge Paul Kelly.“My nose is bent stupid. I have anxiety and depression and I had a fractured jaw and cheekbone.”Matthew Hanlon, it was said, had ‘significant injuries’, which also included swelling and bruising to his left eye, a fractured nasal bone and a soft tissue injury to his jaw.Matthew Hanlon said he required maxillofacial treatment and that he may need further surgery.Inspector Barry Doyle handed photos of the injuries to the Judge.Garda Jennings responded to a report of an assault at The Lagoon. The injured party had left, but later made a statement.Two suspects, Dean Hanlon and another male, were observed on CCTV in the vicinity of an altercation. Dean Hanlon denied any involvement.Garda Jennings said that ‘a number of words’ were exchanged before the injured party was assaulted with a ‘punch on the head and body’.Defending solicitor Patsy Gallagher said the other accused in the matter, a brother of the defendant, had been dealt with at another venue and that compensation had been paid.“He is remorseful,” Mr Gallagher said.“He is a labourer who works full-time and he has two children in a long-term relationship. He came in as his brother’s keeper on the matter. His brother has discharged €1,000 and the same would be forthcoming.”Judge Paul Kelly rejected the proposal. Judge Kelly said the offer was an ‘insult’ to Matthew Hanlon and that Dean Hanlon should have ‘known better’ than to interject in such a manner.Judge Kelly adjourned the matter and ordered that an additional proposal to the €1,000 be made.Compensation offer ‘an insult’ to boxer who quit sport after assault – Judge was last modified: April 12th, 2018 by Chris McNultyShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Dean HanlonInspector Barry DoyleJudge Paul KellyletterkennyMatthew HanlonTermonlast_img read more