West Indies Cricket Fans Forum

--
Font size: +

Suriname to sell their oil blocks, while Guyana gives away ours for free

Suriname to sell their oil blocks, while Guyana gives away ours for free


Kaieteur News – Governments around the world make big money when they award oil and gas contracts by open, competitive bidding processes. They also ensure that when such a process is upheld transparently, the best and most eligible companies are chosen to do the job.
This is the process that Surinamese state-run oil company Staatsolie has taken, as it has announced that eight oil blocks offshore of the country are up for bidding.
According to the bidding document’s executive summary, the eight blocks on offer total to over 13,524 km2 of unexplored, but “highly prospective” acreage in the western part of offshore the Dutch-speaking country, with April 2021 as the due date for bids.
Notably, these eight blocks are located in the Guyana-Suriname basin, where Guyana’s Stabroek Block, ExxonMobil and its consortium of oil companies have made 18 discoveries, totaling to in excess of 9B oil equivalent barrels. The Suriname government now wants to capitalize on Guyana’s finds, which have led them to bid those unexplored blocks.
Capitalising even further on its opportunities, the company has been studying a large shallow water acreage offshore Suriname, for which it has amassed a wealth of data.
On its website, the state-run oil company explained how its work in the near shore areas, though not yielding material discoveries, have already done enough to confirm the “potential” of oil in the coastal area.
Kaieteur News had reported on how data amassed about certain areas could increase the value of the acreage. It is for the same reason that Guyana has been urged by industry experts to ensure it publishes data on relinquished blocks as soon as possible.
Notably, the country could rake in hundreds of millions of dollars in signing bonuses for the shallow water block(s). It has already started to do so for its blocks since ExxonMobil’s continued de-risking of the Guyana-Suriname basin.
For instance, Total agreed to pay Apache US$100M for a 50 percent stake in the 1.4 million acre Block 58. That amounts to more than five times the paltry US$18M Guyana took from ExxonMobil for the 6.6 million acre Stabroek Block.
As has been reported in Kaieteur News, the Donald Ramotar administration had ignored the Guyana Geology and Mines Commission (GGMC) when the regulator advised that the government could facilitate competitive bidding acquiring Guyana’s oil block ‘C’, after at least four oil companies had shown interest in the area. Two of the interested companies were Repsol from Spain, and Royal Dutch Shell from the Netherlands, both major international players in oil and gas, as announced by a source.
Many have criticised Guyana’s contract with ExxonMobil as lopsided and unfair to the people of Guyana. Global Witness has calculated that the poor terms would cause the country to lose US$55B over the life of the contract. It has criticised Guyana’s leaders for the part they played in the signing away of the massive concession to the multinationals, ExxonMobil, Hess and CNOOC.
Despite facing international and local condemnation, neither of the major parties has shown interest in securing better terms for the people. ExxonMobil has even boasted that it has received assurances from the parties that the contract will remain intact, and that its projects will be allowed to move forward.

Exxon cheated Guyana on pre-contract costs – Chris...
LOCAL folk musician Gavin Mendonca never imagined ...
>

Guyana Diaspora Forum

We have a large database of Guyanese worldwide.  Most of our readers are in the USA, Canada, and the UK.  Our Blog and Newsletter  would not only carry  articles and videos on Guyana, but also other articles on a wide range of subjects that may be of interest to our readers in over 200 countries, many of them non-Guyanese  We hope that you like our selections.

It is estimated that over one million Guyanese, when counting their dependents, live outside of Guyana.  This exceeds the population of Guyana, which is now about 750,000.  Many left early in the 50’s and 60’s while others went with the next wave in the 70’s and 80’s.  The latest wave left over the last 20 years. This outflow of Guyanese, therefore, covers some three generations. This outflow still continues today, where over 80 % of U.G. graduates now leave after graduating.  We hope this changes, and soon.

Guyanese, like most others, try to keep their culture and pass it on to their children and grandchildren.  The problem has been that many Guyanese have not looked back, or if they did it was only fleetingly.  This means that the younger generations and those who left at an early age know very little about Guyana since many have not visited the country.  Also, if they do get information about Guyana, it is usually negative and thus the cycle of non-interest is cultivated.

This Guyana Diaspora Online Forum , along with its monthly newsletter, aims at bringing Guyanese together to support positive news, increase travel and tourism in Guyana and, in general, foster the birth of a new Guyana, which has already begun notwithstanding the negative news that grabs the headlines.  As the editor and manager of the publication, I am committed to delivering Blog entries and Newsletters that are politically balanced, and focused on the positive ideas we wish to share and foster among Guyanese.

Rachelwhy captcha is taking too much time????(22.11.2024, 10:33)(10:33)0
Annabella?Motie the batsman!? Its becoming a habit. He came in at117/8 and left at 166/9

Motie smashed 33(14)

He is world Number 2 bowler but probably wants a promotion to Motie the all rounder.

(PIC ESPNcricinfo )
#kaieteurnewspaper
#KaieteurNews
#sports
#cricket
#WIvsENG
(10.11.2024, 11:11)(11:11)0
AnnabellaBreaking: Dallas Cowboys QB Dak Prescott is planning to undergo season-ending surgery on his partially torn hamstring, pending the opinion of one final specialist, sources told Adam Schefter.(09.11.2024, 17:56)(17:56)0
AnnabellaAlzarri Joseph ban for two matches(07.11.2024, 18:41)(18:41)0
AnnabellaWhy New Zealand & South Africa don't play more test matches like Australia, England and India?(03.11.2024, 14:06)(14:06)0
SawyerPresident Ali lauds QC as symbol of excellence at 180th anniversary event(22.10.2024, 05:15)(05:15)0
EllieSerious Comment! Guyana lost because GAW forgot to switch off the stadium lights!(07.10.2024, 19:33)(19:33)0
EllieThey have more astronauts in the Hubble Space Telescope than attendees in Nigel Latrine meeting.(06.10.2024, 15:48)(15:48)0
JohannaPollard: We need to produce next batches of Bravos, Pollards, Narines(27.09.2024, 16:47)(16:47)0
JohannaDwayne Bravo parts ways with CSK, joins KKR as mentor for IPL 2025(27.09.2024, 16:38)(16:38)0
EllieDo you recall the famous Village Umpires. The ball only touch the pad Or wicket keeper appeal. Is OUT!(12.09.2024, 14:51)(14:51)0
EllieStatement from CPL: "Sherfane Rutherford is leaving the St. Kitts and Nevis Patriots squad due to personal reasons and will take no further part in the 2024 Republic Bank Caribbean Premier League (CPL). The Patriots will name a replacement in due course."

Rutherford has not had the best of seasons, with scores of 1, 0, 34 and 1.

(Photo: CPL/Getty Images)

#sport #news #newsroom #newsroomguyana #guyana
(11.09.2024, 19:05)(19:05)0
AldoJoe Root has never been featured in any Test XI Greatest. Maybe because his publicity profile is low. But it would be difficult not to include him!(03.09.2024, 10:22)(10:22)0
IslaGTT enters three-year endorsement partnership with cricketer, Shamar Joseph(30.08.2024, 17:17)(17:17)0
Islawest indies winn(27.08.2024, 18:21)(18:21)0
IslaWest Indies need 13 runs in 26 balls(27.08.2024, 18:17)(18:17)0
IslaHetmyer, FOUR, only 18 now.(27.08.2024, 18:16)(18:16)0
JerichoWho the hell send shamar Joseph to bat at number 11(16.08.2024, 11:32)(11:32)0
JerichoHappy Athanaze made runs, but in my opinion he could have been out anytime.(12.08.2024, 09:29)(09:29)0
JerichoBally Khaman
The Caribbean fans asking for more test series per a year but WI can't put together a proper test team eh ?
(03.08.2024, 18:48)(18:48)0
MarcoRiley Gaines laid into Brittney Griner for kneeling during the National Anthem. “You don’t have to sing or anything, but you need to show some respect for the country that saved you from a Russian Gulag.” ???(03.08.2024, 12:41)(12:41)0
MarleighLooking for PM...(20.07.2024, 20:51)(20:51)0
AbdullahIsraeli Prime Minister Benjamin Netanyahu makes surprise Gaza visit(20.07.2024, 17:06)(17:06)0
ketchimhopefully day 3 goes as well as day 2 !(19.07.2024, 15:25)(15:25)0
Sylviarally(18.07.2024, 18:00)(18:00)0
Braxtone(18.07.2024, 08:08)(08:08)0
SantinoShamar Joseph & Gudakesh Motie Late Tour Arrival(05.07.2024, 15:23)(15:23)0
Gabriel30 from 30 balls and lost.
I have no respect for South africa!!!
(29.06.2024, 13:18)(13:18)0
AldoI'm confused on how a funeral home can raise the price of a funeral service and blame it on the cost of living.(27.06.2024, 19:35)(19:35)0
BrynleeShaheen Afridi has signed for Toronto Nationals in the Global T20 Canada, weeks after withdrawing from a £100,000 contract with Welsh Fire in the Hundred

Short-form leagues need better regulation: this should be enough for the ECB to ban Shaheen for the 2025 edition, for example
(22.06.2024, 13:48)(13:48)0
GabrielI guess all west indies fans will be rooting for England this morning how ironic(21.06.2024, 09:54)(09:54)0
GabrielFormer India fast bowler David Johnson has passed away at the age of 52 after falling from his balcony, as per reports.(20.06.2024, 06:07)(06:07)0
GabrielCan usa win the cup(19.06.2024, 08:32)(08:32)0
NasirPakistan's nervy run-chase condemns Ireland to a winless World Cup campaign(16.06.2024, 14:18)(14:18)0
GabrielUsa goes to super8(14.06.2024, 13:15)(13:15)0
NasirSaurabh Netravalkar and Harmeet Singh: two Mumbai boys living the American cricket dream(13.06.2024, 17:18)(17:18)0
NasirMotie among contenders for ICC Player of the Month(11.06.2024, 16:52)(16:52)0
ketchimUSA created History with a Super Over Victory !(07.06.2024, 09:20)(09:20)0
Nasirusa vs pakistan(06.06.2024, 10:31)(10:31)0
WarrenIcc may have to ban worldcup matches in barbados too much rain(04.06.2024, 18:51)(18:51)0
SaulChase rescues West Indies for a winning start(02.06.2024, 17:46)(17:46)0
ketchim137 - after 19 : WIN(02.06.2024, 13:45)(13:45)0
ketchimPNG : 136 - 8 after 20(02.06.2024, 11:05)(11:05)0
WarrenCome and experience the vibrant atmosphere at 230 fifth Rooftop Bar! Open all year long, we're the perfect spot to enjoy the spring and summer seasons under the sky.

No reservations required—walk-ins are always welcome! Whether you're looking to unwind with refreshing drinks or indulge in delicious food, our rooftop offers stunning views that promise unforgettable evenings.

Join us at 230 Fifth Rooftop Bar for a taste of the good life, where every visit is more than just a meal—it's a celebration!
(01.06.2024, 10:18)(10:18)0
WarrenI heard Australia played with 9 players v WI in the warm up match again
Players still absent
(31.05.2024, 16:23)(16:23)0
AldoWindies move into 4th place on T20i rankings. Let's keep climbing(29.05.2024, 12:34)(12:34)0
Aldo? BREAKING ?

Former Australia opener Joe Burns will now play for Italy, aiming to help them qualify for the T20 World Cup 2026 in honor of his late brother and grandparents. ????

Burns' brother, Dominic, passed away in February this year. With the 34-year-old not receiving a contract from Queensland for 2024-25, he decided to make the switch.

He will wear the number 85 jersey to honor his brother. ❤️

#JoeBurns #Australia #Cricket #Italy #T20WorldCup #Sportskeeda
(28.05.2024, 12:29)(12:29)0
AldoPandya has added His mother in his every bank accounts and property even before marriage.

So basically if divorce happens, Natasa Stankovic will get nothing from hardik Pandya ?

Gujarati boy for a reason ?
(27.05.2024, 11:14)(11:14)0
JourneeW.I. beat Saffies 1st T20.(23.05.2024, 18:41)(18:41)0
JourneeWest Indie Beat South Africa in 1st T20Jamaica Sabina Park(23.05.2024, 18:39)(18:39)0
Dario
Go to top