{"id":25457,"date":"2025-01-16T15:50:16","date_gmt":"2025-01-16T15:50:16","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=25457"},"modified":"2025-01-16T15:50:23","modified_gmt":"2025-01-16T15:50:23","slug":"regulatory-stability-key-to-guyanas-future-oil-investments-says-exxonmobil-president","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/regulatory-stability-key-to-guyanas-future-oil-investments-says-exxonmobil-president\/","title":{"rendered":"Regulatory Stability Key to Guyana\u2019s Future Oil Investments, Says ExxonMobil President"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Josiah Williams | December 4, 2024<\/em><\/p>\n\n\n\n<p>Regulatory stability will play a crucial role in securing future investments in the Guyana-Suriname Basin, according to Alistair Routledge, President of ExxonMobil Guyana. <\/p>\n\n\n\n<p>Routledge made this statement during an appearance on the <em>Energy Perspectives<\/em> podcast, a weekly series leading up to the Guyana Energy Conference and Supply Chain Expo.<\/p>\n\n\n\n<p>Routledge emphasized that consistency in the legal and regulatory environment is essential for fostering long-term investment in the petroleum sector. <\/p>\n\n\n\n<p>He highlighted that the stability of the regulatory framework allows investors to plan with confidence, knowing that the rules will remain constant and that investments will materialize over time.<\/p>\n\n\n\n<p>This comes as Guyana anticipates having six oil projects in operation by 2028, with a projected daily production of 1.3 million barrels of oil, while neighboring Suriname is expected to add 200,000 barrels per day.<\/p>\n\n\n\n<p>Routledge also shared insights into Exxon\u2019s ongoing projects, specifically the Hammerhead development, which is currently undergoing a lengthy authorization and permit process.<\/p>\n\n\n\n<p>He hopes to conclude this process by next year and outlined plans for the Longtail project, which Exxon anticipates moving forward with after the completion of Hammerhead.<\/p>\n\n\n\n<p>In addition to offshore projects, which are estimated to total 55 billion US dollars, Exxon is investing in the Guyana Technical Training College Incorporated (GTTCI) in Port Mourant. <\/p>\n\n\n\n<p>This new institution, according to Routledge, will serve as Exxon\u2019s premier training center, equipped with state-of-the-art simulators, equipment, classrooms, and instructors to ensure top-notch training for the next generation of workers in the oil industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Josiah Williams | December 4, 2024 Regulatory stability will play a crucial role in securing future investments in the Guyana-Suriname Basin, according to Alistair Routledge, President of ExxonMobil Guyana.&hellip;<\/p>\n","protected":false},"author":4,"featured_media":25446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,360,350],"tags":[],"class_list":["post-25457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-energy","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/25457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=25457"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/25457\/revisions"}],"predecessor-version":[{"id":25459,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/25457\/revisions\/25459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/25446"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=25457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=25457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=25457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}