Guyana would do well to allow third parties to conduct their own analyses of oil and gas companies’ drilling results, says Petroleum Consultant and Engineer, Paul Nicholas Ramsaywack.
Petroleum Consultant & Engineer, Paul Nicholas Ramsaywack
This verification, he said, can be done using well logs. They contain detailed records of the finds made by companies like ExxonMobil, which currently boasts 15 successful commercial hydrocarbon discoveries in the Stabroek Block.
Thus far, logs for drilling done offshore Guyana are not publicly available. But the Consultant informed Kaieteur News that many American States have a very different modus operandi.
The engineer, who has worked over a decade with exploration and production operators across multiple onshore US basins, said that those States have some of the strictest regulations and requirements for public release. He advises Guyana to follow in America’s path.
In a previous publication, Kaieteur News reported that Ramsaywack suggested one year of public confidentiality between companies and the State to reward the operators for making a risky investment. That, he indicated, encourages others to drill.
The Consultant added that third parties would also be held to confidentiality agreements for that period.