Officials from the Embassy of Mexico and the Government of Guyana are currently engaged in a two and a half day workshop on best practices in the oil and gas industry. The engagement which comes to an end tomorrow afternoon will see the Mexican Agency for Safety, Energy and the Environment (ASEA) sharing its experiences when it comes to regulating oil and gas companies.
The training will give participants an overview of empirical findings regarding industrial safety and environmental regulation of the oil and gas industry based on a Risk Management Model developed by ASEA, the main regulator of the Mexican oil industry.
ASEA Executive Director, Carlos de Regules said with the management of over 300 oil platforms, six refineries above 60,000km of pipeline, over 100 oil and gas storage facilities and four years of experience in the sector, there is a lot Guyana can learn from Mexico.
Since commencing operations, de Regules said that 107 contracts have been awarded, US$200B committed for future investment and 74 companies from over 20 countries have visited Mexico to seek investment opportunities.
“Our lesson four years later is that regulatory certainty is a good deal for the industry. This is what we have found out and we have been working closely with different stakeholders to build these regulations,” he noted.
ASEA has worked with the United States, the United Kingdom, Norway, Canada, and other major oil producing countries, and has adopted many best practices.
Dr. Mark Bynoe, Head of the Department of Energy, described the exchange of information as timely as Guyana works to build capacity in terms of predictability and regulations in the emerging sector.
Head of the Department of Environment, Ndibi Schwiers, who is also attending the workshop said that it is important to build South-South cooperation. She opined that this will enable Guyana to better understand the environmental safeguards and regulatory regime that Mexico has incorporated in advancing the industry, “even as we [Guyana] work towards developing our capacity to regulate and to monitor the sector.”
Some 35 participants from the Ministry of the Presidency, Ministry of Natural Resources, EPA, Department of Environment, Department of Energy, Guyana Geology and Mines Commission (GGMC), Guyana Lands and Survey Commission (GL&SC), the Maritime Administration Department (MARAD), the Guyana Oil Company (GUYOIL), Conservation International, University of Guyana (UG) and the private sector will take part in the sessions.