In early January 2017, two major international oil companies, ExxonMobil and Hess, announced the successful drilling of two deep-water exploratory wells (Liza and Payara). In March, ExxonMobil made its third oil-bearing sandstone reservoir discovery while drilling the Snoek well. More recently, ExxonMobil Corporation announced that it had made two new discoveries, Liza deep and Turbo-1. These discoveries (Liza, Payara, Snoek, Liza deep and Turbo-1) would place Guyana among the 40 largest reserves-holders in the world.
The oil discovery therefore has critical implications for the country's economic development. If handled well, it can boost the overall standard of living for the country. However, there is considerable work to be done so that Guyana can enjoy the benefits of its oil wealth. Too many resource-rich countries have become development poor, and the list of new oil and gas exporters includes some of the world's poorest and most fragile states, making the downside risks especially high.
Project Detail
Country
Guyana
Project Number
GY-T1147
Approval Date
December 4, 2017
Project Status
Closed
Project Type
Technical Cooperation
Sector
ENERGY
Subsector
NEW OIL AND GAS AND EXTRACTIVE INDUSTRIES
Lending Instrument
-
Lending Instrument Code
-
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
Category C: Likely to cause minimal or no negative environmental and associated social impacts
Total Cost
USD 400,000.00
Country Counterpart Financing
USD 0.00
Original Amount Approved
USD 400,000.00
Operation Number | Lending Type | Reporting Currency | Reporting Date | Signed Date | Fund | Financial Instrument |
---|---|---|---|---|---|---|
ATN/OC-16533-GY | Sovereign Guaranteed | USD - United States Dollar | Ordinary Capital | Nonreimbursable |
- Lending Type: Sovereign Guaranteed
- Reporting Currency: USD - United States Dollar
- Reporting Date:
- Signed Date:
- Fund: Ordinary Capital
- Financial Instrument: Nonreimbursable
Can’t find a document? Request information
https://www.iadb.org/document.cfm?id=EZSHARE-452454260-3
Approved TC document
GY-T1147 TOR II.docx
Feb. 06, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-452454260-4
Procurement Plan
PP GY-T1147.xlsx
Jan. 31, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-1189175918-2
Approved TC document
TCM-MainReport (4).pdf
Feb. 06, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-1317604928-2
Approved TC document
GY-T1147 Approval Document to publish.pdf
Jan. 31, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-452454260-2
Approved TC document
GY-T1147 TOR I.docx
Feb. 06, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-452454260-42
Technical Note
KM Advisors Notice of Contract Award for Publication.pdf
Aug. 22, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-452454260-53
Publication
GY-T1147-P002 - Notice of Award.pdf
Mar. 28, 2019
English
https://www.iadb.org/document.cfm?id=EZSHARE-452454260-6
Procurement
GY-T1147_REOI.pdf
Mar. 09, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-94812927-4
Environmental Safeguards Review
GY-T1147_SPF_20171101_1048.pdf
Feb. 06, 2018
English
https://www.iadb.org/document.cfm?id=EZSHARE-94812927-5
Environmental Safeguards Review
GY-T1147_SSF_20171101_1048.pdf
Feb. 06, 2018
English
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