VP Jagdeo encourages Oil Minister to host press conference on day-to-day management of sector

Oct 07, 2023 News

Kaieteur News – Vice President Bharrat Jagdeo on Thursday said he has no objection to Natural Resources Minister, Vickram Bharrat hosting independent press briefings on the daily management of the sector.

Vice President, Dr. Bharrat Jagdeo

The Vice President’s statement follows questions from Kaieteur News on whether he would encourage 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 police issues in the oil and gas sector.

“I agree with that,” the Vice President 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.

Natural Resources Minister, 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 (PPPC) 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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management, Natural Resources Minister, Vice President, Vice President Bharrat Jagdeo, Vickram Bharrat

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