TRANSPARENCY IN THE OIL AND GAS INDUSTRY

Georgetown, Guyana
FOR IMMEDIATE RELEASE – to all media
June 7, 2025

AFC OIL & GAS ADVISORY COMMITTEE

TRANSPARENCY IN THE OIL AND GAS INDUSTRY

Policy Statement

The Alliance for Change (AFC), being aware that Guyanese are the owners of the Oil, Gas and Natural Resources, commit to be fully transparent in all aspects of the operations of this important sector. The AFC guarantee that what has been the past and current practice on information sharing will not continue under an AFC leadership.

Objective

Ensure that all citizens are provided with current information, in regard to all activities, including agreements, contracts, concessions and other related matters.

Measures:

Responsibilities of the Minister responsible for petroleum

Within 180 days of the signing of all agreements, contracts, and concessions, the Minister responsible for petroleum activities will publish, in a public medium, as well as in the parliament, signed copies of all agreements.
Within 180 days of any approval to amendment any of the original agreements, the Minister responsible for petroleum activities will publish, in a public medium, as well as in the parliament, the signed agreed amendments.
Should either of the parties to any agreement, request that information deemed proprietary to that party be withheld, if approved by the Minister responsible for petroleum activities, such information can only be withheld for a period of no more than 18 months after the signing of the agreement. Thereafter, the information will be published in the above manner.
All seismic and related data will be the property of the Republic of Guyana, on application to the Minister responsible for petroleum activities, and payment of any fees, if applicable, such information will be made available to the interested party.

Responsibilities of the holders of petroleum agreements

All holders of petroleum agreements will be required to publish, every six months, in a public medium, general data on their petroleum activities including petroleum production details, gas flaring and reinjection, cumulative oil extraction details, general details on seismic surveys, and exploration activities.
Publish in a public medium, on the anniversary of its renewal, copies of all insurances held in relation to their petroleum activities.
On the request of the Minister responsible for petroleum activities, the holder of petroleum licensees shall provide all relevant information on any contracts entered into with regards to the licensee petroleum activities.
On the request of the Parliamentary Committee of Natural Resources, all licensees will be required to attend such meetings to provide general information on their petroleum related activities.

Legislative Measures

The following Acts, regulations and agreements will be amended.