Egyptian, French firms submit bids to train persons to conduct oil audits

May 07, 2024 News

Kaieteur News – Stratoil Energy Services and Beicip Franlab (An Egyptian and French company respectively) are the only two competitors vying to train persons to review and monitor the country’s oil and gas resources and reservoirs.

There were initially three bidders for the Ministry of Natural Resources project. The third company was DeGolyer & Mac Naughton Corp (D&M) of Texas, USA.

At a recent opening of tenders at the National Procurement and Tender Administration Board office, it was revealed that Stratoil Energy Services bid – US$381,200 (excluding local indirect taxes), US$129,000 (local taxes) for the contract, and Beicip Franlab bid US$451,930 (excluding local indirect taxes), US$192,070 (local taxes).

The Ministry of Natural Resources in an advertisement sought consulting services for ‘Conducting Petroleum Resources and Reservoir Audit’.

The ministry’s advertisement stated that the Government of Guyana (GoG) has received financing in the amount of US$20 million from the World Bank (WB) towards the cost of the Guyana Petroleum Resources Governance and Management Project (GPRGMP) and intends to apply part of the proceeds to pay a consulting firm to provide advisory services, technical support and training and capacity strengthening services to the GoG.

It was revealed by the Natural Resources Ministry that the objective of the assignment is for the Consultant to provide advisory services, technical support and training and capacity strengthening services to the government, through the Ministry of Natural Resources, and the Sector Regulator – the Guyana Geology and Mines Commission (GGMC) or the Petroleum Commission (PC) once established – and other attendant Ministries with the aim of enhancing the country’s core capacity to review, approve, authorise, and oversee, monitor and report on the country’s oil and gas reserves and resources.

This publication understands that the assignment will include areas such as “Verification of the completeness of the data used in the current estimates, assessment of the credibility of the assumptions and methodologies used in current estimates, confirmation that the current petroleum reserve and resource estimates are compliant with relevant industry standards and regulations, validation of the accuracy and reliability of current estimates, validation of the level of uncertainty associated with the estimates, evaluation of the consistency of the estimates with previous estimates and industry benchmarks, identification of any areas for improvement in the petroleum reserve and resource estimation process and reporting, [and] provision of recommendations for enhancing the quality and reliability of future estimates.”

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audits, DeGolyer & Mac Naughton Corp (D&M), Egyptian, French, Ministry of Natural Resources

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