Govt teams up with petroleum group to prepare for oil

The Natural Resources Ministry is collaborating with the New Petroleum Producers Group to host a seminar on “Governance of the Petroleum Sector: Preparing for First Oil.”
The group is organised by Chatham House – the Royal Institute of International Affairs, with support of the Commonwealth Secretariat, and Natural Resources Governance Institute (NRGI).
The seminar is being held from November 17 to 18, 2016, and aims to enhance the capacity of Guyana as an emerging oil and gas producer to establish context-appropriate rules and institutions for good governance in its petroleum sector. This is a key component of Guyana’s efforts as it prepares for the impending oil production.
The first day of the seminar is being geared to assist Government Ministries and Agencies with responsibility for various aspects of the petroleum sector, regulatory and development regime. Discussions will cover: Introduction to Oil and Gas, Good Governance; Petroleum Fiscal Systems design, and the establishment of a National Oil Company.
The second day is designed specifically for Certified Accountants and Attorneys to provide insight on key elements of the oil and gas sector in relation to their areas of practice. Legal Frameworks, Contract Negotiation, Financial Risk Management, and Internal Controls for the oil and gas sector are among the topics for discussion.
Sessions will be facilitated by a team of international experts and local participation will be enhanced by contributions from new and experienced petroleum producers and advisors from Ghana, Uganda, Suriname, Trinidad, Liberia, the United Kingdom and the United States of America.
The Natural Resources Ministry has since extended an invitation to Certified Accountants and Attorneys to attend the seminar that begins next Friday.