May 23, 2020 News Comments Off on Guyana needs to prepare for intense shorebase demands – Ex TT Minister
When Guyana overcomes its electoral issues, one of the biggest challenges the new government will face relates to addressing the demands that will intensify for shorebase services, according to former Energy Minister for Trinidad and Tobago, Kevin Ramnarine.
During his first appearance on Kaieteur Radio’s ‘Guyana’s Oil and You’, Ramnarine noted that Guyana is expected to have five floating production storage and offloading (FPSO) vessels in the next five years. Ramnarine said that the shorebase demands that these oil ships will need is expected to be significant.
Expounding further, the former Minister said that Guyana has the Liza Destiny FPSO offshore and another, the Liza Unity, is under construction. Along with the Liza Destiny, there are four drill ships and about 25 support vessels.
“So there is quite an armada out there. Support is being provided by the Muneshwers shorebase at Houston but there will be a need for more shorebase services by 2025,” Ramnarine expressed.
The former minister said that Guyana has to lend serious thought to getting shorebase infrastructure in place. Further to this, Ramnarine said that Guyana is expected to reach its production peak which would be sometime in the later part of this decade. In this regard, he recalled that international consultancy firm and trusted data provider, Wood Mackenzie, had said that Guyana would become the 11th nation in the history of the world to produce over one million barrels of oil per day.
Taking this into consideration, he said that Guyana has to prepare its industry to be equipped with robust institutional capacity and legislation. He acknowledged that the Energy Department has made some moves in this direction but noted at the same time that it should have been in place since 2015. “The country is therefore a bit behind the curve at this time,” the now business studies lecturer said.
Ramnarine also said that it is critical that Guyana does not find itself in a place where the industry grows exponentially but the capacity to manage it does not. He said this was one of the blunders made by his home country while adding that Guyana has the good fortune of having borrowed experience and endeavouring to do better.
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