Guyana Wants To Use African Country Ghana Oil & Gas Management Strategies Model

Natural Resources minister, Vickram Barrat, has said his country will model the exploration of their newly found fossil resource by the oil sector management strategies of Ghana.

According to him, Guyana is taking Ghana as a model because Ghana is managing its oil resources very efficient which is bringing many benefits to its people.

The Minister who said this in an interview on Asaase radio’s Energy 101 programme added that he is particularly impressed with Ghana ability to monetize the gas bye product of its oil production which could have otherwise gone to waste.

“We do recognise Ghana as one of the countries in Africa that have been managing the oil and gas sector in quite an efficient and effective manner in which benefits its people. So, we see Ghana as a model country in terms of managing the sector. It is pretty much new still to Guyana because you (Ghana) have about eight years of experience ahead of us (Guyana) but it is amazing the way in which Ghana built their framework and architecture to manage the sector.

“Not only the oil resources but I’m particularly impressed in the way in which Ghana has monetized their gas reserves to produce about 3000 megawatts of power,” Asaaseradio.com quoted Vickram Barrat.

“So, that’s an area that we see collaboration, we see Ghana and Guyana partnering and lobbying to ensure that developing countries like us are kept within the loop of oil producers in the years to come. Also, on carbon emission and climate change aspect, I see a partnership there too,” he added.