GUYANA – LATEST NEWS – 13 November 2015 – Kaieteur News
(see other News sources at the end of this entry)
- Berbice Bridge Company “set to lower tolls”
- Former GPL Deputy goes to court to defend $28M back pay
- Harbour Bridge tragedy…$1M bail for husband on causing death charge
- GRDB: Rice exports up despite low prices
- Charges against Dr. Westford breach amnesty – Neil Boston
- Beverage company wins bid for seized liquor
- Bandit uses gunfire to escape after $2M Cambio heist
- Speaker in plot to muzzle opposition – says PPP Chief Whip
- Oil exploration can synchronize with a green economy – Governance Minister
- GGMC praises Troy Resources for “exceptional job”
- … See more article links below ……
Rigs to Riches: A lesson for Guyana’s future?
Rigs to Riches: A lesson for Guyana’s future?
What Guyana does with the revenues from oil (and gas) will be important to its short and medium-term social stability and its longer-term economic prospects.
By Sir Ronald Sanders
BRIDGETOWN, Barbados, Thursday September 22, 2011 – Rigs to riches is the story of Norway’s rise from one of Europe’s backwater countries in 1969 to its position as one of the richest nations in Europe today. How it achieved that status in just over 40 years could be a lesson for Guyana which is now on the brink of major oil exploration, discovery and production.
The Canadian company, CGX Energy, has recently announced that it is seeking to raise US$80 million, most of which will be used to fund its drilling activities within Guyana’s territorial waters.
CGX’s confidence in the possibilities of the Guyana drilling arises from the announcement by oil companies Tullow Oil PLC and Royal Dutch Shell PLC that they have opened up a new hydrocarbon basin offshore French Guiana with the discovery of a good quality oil reservoir from their first wildcat well.
Angus McCoss, Tullow’s exploration director, said the discovery is a “major step” because the geological system offshore Latin America is bigger than that of offshore Ghana. He added,”There are at least half a dozen more of these Zaedyus type traps adjacent.” more
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