Latest update April 6th, 2025 12:03 AM
Latest News
- Exxon admits to operating above production rates in EIAs
- Oil sinks to pandemic lows; metals, soybeans slump as China retaliates against U.S. Tariffs
- Israel has turned two-thirds of Gaza into no-go zones, UN says
- ‘If the President’s award means anything, he would terminate Ramson’- Protestors
- Power China, Kalpataru sign US$422M contracts for extension of transmission lines for GPL
Govt. still to finalise Int’l Law Firm to revamp Guyana’s oil framework — AG
Kaieteur News – The Guyana Government is yet to finalise and select a law firm or conglomerate company that would be working across state agencies to revamp Guyana’s existing legal architecture, in order to create the requisite environment to regulate the country’s emerging oil and gas sector.
Attorney General and Minister of Legal Affairs, Anil Nandlall
This is according to the country’s Chief Legal Officer, Attorney General and Minister of Legal Affairs, Anil Nandlall.
He gave his view recently during an online discussion reflecting on the administration’s past year in office with regards to the Legal Affairs Ministry. According to Minister Nandlall, the quantum of oil and gas that has been discovered offshore Guyana, presents a new challenge for the country in that, managing such an industry requires a special assortment of skills, expertise and specialty training.
To this end, according to Nandlall, the administration decided to seek international assistance and went out to tender on the international market for “that type of law firm or conglomerate company that offers that kind of service in a highly specialised way.”
A company is yet to be finalised, Minister Nandlall disclosed as he divulged that submissions of interest have been expressed by companies across the world.
The Attorney General noted that once such a company is secured, they would be working across the agencies with a view to revamping the legal framework within which they operate.
He cited as example the need for environmental, refining and smelting laws, among others.
The Ministry of Natural Resources (MNR) in March last, publicly made a request for a consultant for the development of the legal and regulatory frameworks for the country’s Oil and Gas Sector.
That project to be completed in 24 months, was supposed to have commenced in July last.
The project, according to the request for expression of interest by the Ministry, is being financed through a loan from the World Bank.
According to the request, the objective of the assignment is for the consultant to provide legislative drafting services, inclusive of on-the-job-training, in relation to the development of the legal and regulatory framework for the oil and gas sector, to MNR and the Petroleum Commission (PC)—the sector Regulator—once established.
According to the scope of work identified for the successful consultant, is the undertaking of a “comprehensive review of Guyana’s existing legal and regulatory framework…such review to include and maximise upon existing institutional, legislative and regulatory analysis and revision documentation.
Additionally, the consultant is expected to support the MNR in detailing the legislative and regulatory instruments required to update and establish Guyana’s governance, management and oversight of the upstream, mid and downstream oil and gas sector, so as to establish a modern and competitive framework.
This is in addition to the development of a prioritised legislative agenda and implementation action plan. The consultant will also be expected to support the Attorney General’s Chambers in the review assessment, and drafting necessary to ensure that the legislative and regulatory instrument are finalised in good order for presentation to the National Assembly, and for passage into law.
Additionally, the consultant will be required to provide “ad hoc legal advice on matters arising from the MNR’s governance, and management of the petroleum sector as requested by the Client.”
While there has been no clear indication on the part of the Ministry as to the cost of the consultancy, the funds would be utilised from a US$20M loan that had been secured from the World Bank.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
The One-Man Republic
Peeping Tom… Kaieteur News- There exists, tucked away on the margin of maps and minds, a country that has perfected... more
The U.S. “Joining” the Commonwealth: an unreasonable expectation
By Sir Ronald Sanders Kaieteur News- Recent media stories have suggested that King Charles III could “invite” the United... more
Weekend Cartoon
