GEORGETOWN, Guyana, CMC—The Guyana government says it will soon release draft oil spill legislation for public consultations. The legislation will set out the proposed procedures for oil spill preparation, planning, and response, as well as issues relating to liabilities and damages.
Vice President Bharrat Jagdeo, speaking at his weekly news conference, said that it will detail the state’s responsibilities and those accountable in the event of an oil spill, whether it be companies operating in the sector or a shipping company.
“Within a week, we’ll get a draft for the Environmental Spill Legislation to ensure that we safeguard the country; fortify it with a law that forces these companies to own liability should there be an oil spill,” he told reporters.
Jagdeo had previously noted that the Irfaan Ali administration is actively studying similar legislation from other countries, including the United States, to incorporate relevant positions.
He said the government has sought to fortify the country’s institutional architecture since 2020 to guarantee accountability and transparency in the burgeoning petroleum industry.
The government established a Local Content Act in 2021, allowing thousands of Guyanese to participate in the sector through employment and business opportunities.
In addition, the Natural Resources Fund (NRF) was updated, enacting a series of reforms to strengthen the oil and gas industry’s regulatory infrastructure. The Petroleum Activities Act of 1986 was also updated. In 2023, the Ministry of Natural Resources hosted an auction for its remaining oil blocks offshore Guyana, absolving the first-come-first-serve model and giving other investors a fair chance.
“Any independent observer would know that we have practically modernized the entire oil and gas sector framework in the past four years. We have addressed all of the major issues in this sector,” Jagdeo said.
He said this contrasts with what transpired under the previous administration: “No government minister answered any question about the oil and gas sector.
“That was their legacy. The People’s Progressive Party resumed office, and we are extremely proud of what we have achieved in that sector over the past four years that we’ve been in office,” Jagdeo said as he criticized the opposition and certain sections of the media for lacking profundity in addressing constructive policies relating to the management of the petroleum industry.
“No one will lead us in this make-believe world. APNU (former government) could do that. They could go into a make-believe world that they are addressing serious issues [but] we are addressing the serious issues,” he said.
Jagdeo said that the government’s commitment to accountability has not gone unnoticed. Several international financial institutions have commended the government for establishing the necessary tools and means to regulate the multi-billion-dollar sector.
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