COMPANIES involved in offshore oil and gas exploration in Guyana will be conducting a review of related activities in the USA on December 20, 2013.The Minister of Natural Resources and the Environment, Hon. Robert M. Persaud, and Mr. Newell Dennison, Deputy Commissioner of the Guyana Geology and Mines Commission (GGMC), will be attending the review. The meeting will be chaired by Minister Persaud.

The annual meeting will be attended by representatives of both the incumbent and new companies entering the potential oil and gas sector of Guyana, such as Anadarko Guyana Co., Repsol Exploration S.A., Ratio Oil Exploration Ltd., Esso Exploration & Production Guyana Ltd., CGX Energy Inc., Pacific Rubiales and Tullow Oil Plc.

Following completion of the offshore Jaguar and Eagle wells in 2012, companies have moved to renew their interest in Guyana’s offshore drive by submitting new applications for seismic acquisition and marine surveys.

Added to this, new venture interests have been pursued and are in place for the next steps in Guyana’s quest to develop its hydrocarbon potential.

Further, the Government, through the Ministry of Natural Resources and the Environment, has been continuously working to establish a firm basis for putting in place the necessary legislation, regulations and other aspects of the institutional framework required for the efficient governance and development of the sector. This includes the development of the Petroleum Advisory Board (PAB), which will be the guide for further advancement of the sector in Guyana.