Mutual Agreements for oil spill safety critical for Guyana, Suriname

Mutual Agreements for oil spill safety critical for Guyana, Suriname – Petroleum Expert

Oct 06, 2022 News

By Kiana Wilburg

Kaieteur News – Taking into consideration, Guyana and Suriname’s geographical proximity, as well as their acceleration of offshore oil exploration and production operations, mutual agreements on safety must be seen as crucial for the respective administrators says Iman Hill, Chief Executive Officer (CEO) of the International Association of Oil and Gas Producers (IOGP).

The industry body, which she represents brings together more than 2000 experts from over 80 member organisations, including 25 National Oil Companies, to help ensure safe, efficient and sustainable energy supply, and to enable a low carbon future. It also speaks on behalf of the industry to governments and regulators and advocates for the role oil and gas can play in the energy transition. It makes this case to a variety of global and regional bodies such as the United Nations and the World Bank.

Iman Hill, CEO of the International Association of Oil and Gas Producers (IOGP)

Speaking at the opening ceremony of the Guyana Basins Summit which comes to a close today, Hill said mutual agreements for safety is even more important given Suriname’s focus on offshore oil and the fact that any oil spill will directly affect Guyana – the Land of many waters. Hill said this reinforces the importance of investing in strong partnerships and regional collaboration on safety.

Hill was keen to note that IOGP’s Safety Committee, which gathers annual safety performance data to lead and facilitate industry-wide activities, and the Wells Expert Committee, which assesses, shares and monitors industry response to global well control incidents and learning, are just some of ways that the Association can facilitate collaboration on this crucial topic.

Importantly, Hill said regional co-operation is not only critical for Guyana and Suriname but also with Brazil and Trinidad and Tobago. The Petroleum Engineer said developing oil and gas industries that enable economic growth but do so in a sustainable way is a challenge. Be that as it may, Hill said she is a strong believer on the importance of collaboration, both across the region and globally.

In the Caribbean, Hill said each country has its own strategies for gas, as it does for emissions and carbon capture, use, and storage. She said currently, the approach is based on local level policy. While this may be the case, Hill said there are tremenduous benefits to be had if there were a block of energy countries that can shape their economic development collectively.

Despite Guyana and Suriname being neighbouring countries, Hill said there are currently no cross-border agreements in place. To build resilient ecosystems of any kind, Hill said collaboration via such means is an absolute must.

As Guyana ramps up the development of its hydrocarbons, Hill said she would urge authorities to do so mindful of the need to produce the cleanest barrels.

The Petroleum Engineer said, “We must do everything we can to mitigate emissions – clamping down on methane, reducing flaring, and investing in all the technologies that allow hydrocarbons to play a role in a world that’s charting its path towards net zero. We should strive to create a new normal where increasingly, we only explore and produce new oil and gas where we’ve assessed every opportunity to attach an integrated carbon solution to it – whether that’s CCS, hydrogen or some other relevant option.”

Hill said this will mean considering decarbonisation as a normal and must have part of the investment decision. While this may seem a tall order, Hill said believes it is possible with the will of all stakeholders.

“I say this because I believe it is key to our industry fulfilling its role in the energy system of tomorrow,” expressed Hill.

She added, “In this industry, we have an obligation to bring our considerable know-how, skills, innovation, technology, and investment power to create the sustainable world that we want to see for our children and their children. And if everyone pulls together, if we all play our part – including oil and gas producers then I believe we can find the right path and you will have a successful industry.”

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