Natural Resource Minister to host first press conference this month

Nov 03, 2023 ExxonMobil, News, Oil & Gas

Three years after assuming office…

Kaieteur News – Vice President (VP) Bharrat Jagdeo has said that Minister of Natural Resources, Vickram Bharrat will be hosting his first press conference this month.

Vice President, Bharrat Jagdeo

The announcement comes three years after Bharrat assumed the office as Minister. Responding to a question from Kaieteur News, at a press conference on Thursday, the VP said “I told the Minister. He said to me, he is preparing a press conference to deal with all the issues. He said he will do the end of year press conference but I said that I think he will do it in November because you don’t have to wait till the end of the year to host a press conference.”

The Vice President had previously said that he has no objection to the Natural Resource Minister hosting independent press briefings on the daily management of the oil sector. The Vice President encouraged the Minister to engage the media since he has not done so in three years.

It is important to note that almost every week the Vice President hosts press conferences to address policy issues in the oil and gas sector. “I agree with that,” the Vice President had said, adding, “Somehow there is a feeling that I tell him not to have that press conference. But the more they (Vickram Bharrat’s ministry) do in that regard then it is easier for me to deal with policy so I don’t have to deal with routine issues…the more information they supply, (the better it is). I have no objection to that happening.”

In recent times, Kaieteur News has been at the forefront of highlighting the minister’s failure to host a press conference to address key issues in the industry. With Guyana heralded as the fastest-growing economy by the International Monetary Fund (IMF), thanks to its burgeoning oil and gas industry, the political Opposition in Guyana has incessantly advocated for transparency and accountability as the sector’s guiding principles.

Minister of Natural Resources, Vickram Bharrat

Industry insiders and stakeholders are eagerly awaiting Minister Bharrat’s engagement with the media to shed light on pressing issues such as those listed below:

Relinquishment Clauses & Contract Administration: Questions loom regarding oil firms’ compliance with relinquishment clauses in exploration contracts. Stakeholders contend that there’s a pressing need for clarity on how the ministry intends to manage the relinquishment of oil block portions, ensuring optimal national benefit.
Update on Local Content Act: Having been in effect since 2021, a comprehensive report outlining its achievements, influence, and forward-looking insights is yet to be presented to Guyana’s Parliament. Although some procurement numbers have been presented by the Ministry, a detailed analysis remains conspicuously absent.
Insight on Petroleum Activities Act: The recent passage of the Act’s and the upcoming auction of 14 oil blocks – with offers on eight already – necessitates a clear outline of the government’s strategic direction on capacity building, especially considering the nation’s current skill gap in the oil industry.
Introduction to the Petroleum Unit: The conspicuous absence of a formal introduction to such a pivotal entity raises eyebrows. Stakeholders question the government’s commitment to transparency and wonder who is steering this multi-billion-dollar ship.
Revamping the Petroleum Management Programme Website: Guyana’s soaring economic trajectory seems mismatched with the current subpar state of the website, marked by production data that lags two months behind current timelines, glaring omissions on discoveries and drilling programmes, and a lackluster user experience.
Handling of Field Development Plans: The Ministry of Natural Resources has been overseeing the process of hiring companies to review the field development plans for Exxon’s projects. Since 2020, the People’s Progressive Party Civic (PPP/C) Administration has reviewed and approved plans for three massive Exxon projects. The ministry is yet to explain to the citizenry, the process it is following, some of the key changes and decisions it has made in relation to such documents and the extent to which it is benefitting from international advice.

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Bharrat Jagdeo, Minister of Natural Resources, office, Vice President (VP), Vickram Bharrat

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