A Washington-based Consultancy firm, Noetic Corporation, will be working with the Government of Guyana to conduct a needs assessment for the country’s Petroleum Commission. When established, this body will serve as the key regulator for the sector. The contract that was awarded to the company is being funded by a US$20M World Bank loan which the government received in 2018.

On his Linked in Profile, Co-Founder and Director at Noetic Corp., Peter Murphy noted that his company is proud to be working with Guyana on this World Bank sponsored project.
Based on a perusal of the procurement plan for the loan, it was noted that the contract was awarded through an open tender process but the World Bank did note state the other companies with submitted expressions of interest. (See link: http://documents.worldbank.org/curated/en/129441582857793562/pdf/Guyana-LATIN-AMERICA-AND-CARIBBEAN-P166730-Guyana-Petroleum-Resources-Governance-and-Management-Project-Procurement-Plan.pdf).
The Guyana Standard also found that US$3.2M has been set aside for the review of the draft Petroleum Commission legislation and other key pieces of the legal architecture for the sector such as the Petroleum Taxation and Fiscal Regulations, Local Content Law and Regulations, Occupational Safety and Health Regulations, and Environmental Regulations.
This news agency understands that the selection process for hiring an internationally recognized consulting firm to support the development of the legal and regulatory frameworks is ongoing. The World Bank has in the meantime, financed a legal workshop with international experts for key government representatives. (See Link: http://documents.worldbank.org/curated/en/991401578505408420/pdf/Disclosable-Version-of-the-ISR-Guyana-Petroleum-Resources-Governance-and-Management-Project-P166730-Sequence-No-02.pdf)


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