THE sum of $500 million was today approved for work on the creation of an Oil and Gas Data Management System in Guyana, and further measures for building Guyana’s ability to monitor the oil and gas sector.
Appropriated under the Oil and Gas Sector Development Programme, the allocation provides for the creation of oil and gas data management system as well as the enhancement of legal and institutional framework for management and oversight of oil and gas sector; and capacity building for Ministries of Natural Resources, Public Works and Finance, the Environmental Protection Agency (EPA), and the Guyana Geology and Mines Commission (GGMC).
Minister of Natural Resources, Vickram Bharrat underscored the importance of the need for Guyana to have its own oil and gas data management system as he took questions on the estimates for the Ministry of Natural Resources on Tuesday in the Committee of Supply of the National Assembly.
The Committee of Supply is meeting at the Arthur Chung Conference Centre (ACCC), Liliendaal, for the Consideration of the Estimates of Budget 2023.