first_imgA recent meeting between officials of Roraima Airways and a Cuban delegation has seen a range of issues, including direct air transport between Havana and Georgetown and collaboration in tourism being discussed and initiatives identified to move the process forward.The three-member Cuban delegation led by Director of International Relations of Cuba’s Chamber of Commerce, Dr Celia Labora Rodriguez, was here for the inaugural Guyana Trade and Investment Exhibition (GUYTIE).Dr Rodriguez indicated her Chamber’s interest in further developing commercial ties with Guyana, pointing out that there are several opportunities that would be of benefit to the business communities of both nations.Meanwhile, Chief Executive Officer of Roraima, Captain Gerry Gouveia, pointed to the critical importance of efficient logistics, including air transportation for both passengers and cargo. He drew attention to daily flights by Aruba Airlines to Guyana from Cuba which bring hundreds of Cubans to the country each week, mainly for shopping.Gouveia said the introduction of some non-stop flights between the two destinations would not only boost passenger travel but provide for the movement of cargo, especially item such as pharmaceuticals which require quick transport so as to avoid spoilage.Both Gouveia and Dr Rodriguez indicated that applications for operating permits for Aruba Airlines to introduce some non-stop flights are currently under consideration by civil aviation authorities in both Guyana and Cuba and are optimistic that approvals will soon be granted. Talks in this connection have been undertaken over the past two weeks.The two teams also discussed initiatives for the promotion of tourism packages in both destinations. In fact, the two are to exchange information and promotional material which will be shared with tour operators.Furthermore, discussions were also centred on Guyana’s participation in next month’s Havana International Trade and Investment Fair (FIHAV) and the role Aruba Air could play in facilitating the movement of passengers and exhibits to Cuba.The delegation thanked Roraima and Aruba Air for assisting in their travel to Guyana for GUYTIE 2018.last_img read more

first_img…maintains Guyana can have both green economy, oil sectorNatural Resources Minister Raphael Trotman is adamant that contrary to the prevailing criticisms that Government is being ill-advised and is, in fact, not adequately preparing Guyana for an oil and gas sector – the Government is watching and learning from other nations.Natural Resources Minister Raphael TrotmanThe Minister was at the time speaking during the opening of a geosciences technology workshop, organised by the American Association of Petroleum Geologists (AAPG), on Monday. According to Trotman, the Government is pursuing technical cooperation engagements like these, which can provide information with a nexus between the technical and the straightforward.He acknowledged the importance of not only considering geological developments, but economic and commercial trends. Given the size of investment needed, Trotman said that understanding the geological occurrences in other oil-producing nations was especially important.“Owing to the dynamic nature of the earth’s surface and the continental crust that we reside on, many structural changes have occurred that have allowed us to draw parallels with other onshore and offshore (oil) basins and to observe the successes and failures as we continue on this journey.”Exxon’s operations in the Stabroek blockHe told the gathering at the Marriott Hotel that just recently a local team attended an oil producers’ conference in Trinidad, where the importance of learning from locations with similar geology and its role in successful exploration were greatly highlighted. “When there is a thorough understanding of geology and how it affects production, we can ensure optimal resource planning, efficient utilisation, and maximum recovery and successes.”Trotman noted that Guyana would have the task of not only preparing legislative and institutional frameworks to efficiently manage the oil and gas sector in Guyana, but to also mentally prepare for the changes that petroleum production would bring. He was also adamant that Government remained committed to its green state development, alongside the oil sector and to the youths.This is despite Opposition Leader Bharrat Jagdeo, an economist, pointing out the obvious; the contradiction of having a “green economy”, that is based on renewable energy, while making plans for oil to become a major economic player.“We are committed to managing our energy sector within the ambit of a green economy,” the Minister expressed. “And, of course, our youth are very important to us and will be more so in the next decade.There has been a flurry of activities in the Stabroek Block, since ExxonMobil’s 2015 oil find in Guyana. In May of that year, Exxon confirmed that more than 295 feet of high-quality oil-bearing sandstone reservoirs was encountered at its Liza 1 exploration well.In late June 2016, Exxon’s drilling results at Liza 2 revealed more than 58 metres of oil-bearing sandstone reservoirs in Upper Cretaceous formations. The well was drilled to 5475 metres at 1692 metres water depth. Drilling results confirmed recoverable resources to be between 800 million and 1.4 billion barrels of oil equivalent. Data from the Liza 2 well test is being assessed.The company had announced that it made its third significant discovery in its drilling explorations offshore Guyana. Its partner, Hess Corporation, had noted that the Liza 3 exploratory well’s net value could be US$6.2 billion based on calculations from the Bank of Montreal (BMO) Capital Markets.Drilling on the Payara well began on November 12, 2016, with initial total depth reached on December 2, 2016. In January of this year, the oil giant had announced it had struck oil in its Payara-1 well, targeting the same type of reservoirs as the well’s Liza counterpart.The Stabroek Block is 6.6 million acres. Esso Exploration and Production Guyana Limited (Exxon’s subsidiary) is the operator and holds a 45 per cent interest in the Block. Hess Guyana Exploration Ltd holds a 30 per cent interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25 per cent interest.The lesser-known Orinduik oil block has been under the administration of Eco Guyana and British company Tullow, after they signed a 10-year Petroleum Prospecting Licence and Production Sharing Agreement with Government last year.last_img read more