GEORGETOWN, Guyana, CMC – The Guyana government says in an effort to strengthen its natural resources capacity, it is accelerating a new phase of oil exploration as it moves to expand petroleum activities beyond the prolific Stabroek Block, creating new opportunities for investment, employment and economic growth.

Natural Resources M“We are very happy that they are progressing in just a short period of time… they already have a vessel in Guyana’s waters conducting the seismic survey. Once that data is analysed and it shows signs of hydrocarbons, then they will move to the exploration programme where they start drilling exploration wells,” Bharrat said noting that seismic surveys are a critical first step in identifying potential hydrocarbon deposits before exploration drilling begins.

Bharrat also spoke of the agreement signed with Ghanaian company Cybele Energy, noting that while the company has requested additional time to pay its signing bonus because of investor-related issues, the government continues to engage through legal channels to ensure compliance with the agreement.

He said the company has already established a local office, hired Guyanese employees, and fulfilled other financial obligations, including licence and environmental fees.

Bharrat also highlighted the recently signed agreement with the Dominican Republic for exploration of the Berbice Block, describing it as another important step in broadening Guyana’s petroleum industry.

He said that the block was already available after being relinquished by its previous operator and was not created specifically for the agreement.

“We have given them a very short timeframe, and within four to six months, we must see some kind of activity in the Berbice Block. It will generate opportunities in Region Six through direct employment, indirect employment, provision of goods and services, housing and transportation.”

Bharrat said the government remains committed to attracting credible investors with the technical and financial capacity to responsibly explore Guyana’s petroleum resources, ensuring that continued exploration translates into long-term economic development and expanded opportunities for Guyanese.

Meanwhile, Bharrat has reiterated the government’s call for Guyanese workers with comparable qualifications, experience and skill sets to expatriate employees in the oil and gas sector to receive equal pay for the work they perform.

He said Guyana has reached a stage where many nationals have developed the technical expertise and experience needed to take on roles within the sector.

“Ten years after discovery to production, we have Guyanese who have upskilled themselves, who went abroad and studied on scholarships or on their own. We have Guyanese who qualify themselves through technical training colleges in Guyana, and they are on FPSOs (floating production, storage, and offloading) working alongside Exxon.

“If you’re…an expat, you have five years’ experience in the oil sector, you’re a reservoir engineer, I am a Guyanese, I have five years’ experience, I have the same kind of qualifications as you, both of us are working on a drill ship offshore, then the salary that you receive, I should receive too.”

Bharrat noted that differences may exist in other benefits, such as allowances provided to expatriate workers living away from their home countries, but maintained that salary should reflect the employee’s skills, qualifications and responsibilities.

He said the issue has been discussed with major companies operating in Guyana’s oil and gas sector, including ExxonMobil, SBM Offshore and MODEC, adding that they have indicated support for fair pay practices.

He said Guyana’s growing oil and gas industry has led to a larger pool of skilled Guyanese workers, with citizens now gaining experience in areas previously dominated by expatriate personnel.inister Vickram Bharrat in outlining the progress being made under recently signed petroleum agreements with new operators, said that the consortium of TotalEnergies, Qatar Energy and Petronas has already commenced seismic surveys on its offshore block, marking a significant milestone in the country’s continued petroleum expansion.