As Guyana’s oil revenues and oil-funded spending continue to grow, the Audit Office is strengthening its capacity to scrutinise some of the country’s biggest projects and the management of its natural-resource wealth, including the Gas-to-Energy project and the Natural Resource Fund.
Auditor General Deodat Sharma highlighted the expanding role of the Audit Office on Friday as he handed over its 2025 report to Speaker of the National Assembly Manzoor Nadir.
During a media briefing following the handover, Sharma was questioned about the Audit Office’s work on the Gas-to-Energy project, the Natural Resource Fund (NRF) and its ability to examine Guyana’s rapidly expanding extractive sector.
Sharma indicated that the Gas-to-Energy project had come under the Audit Office’s scrutiny, but did not disclose specific findings during the briefing, pointing instead to the report for the details.
The report is expected to provide the public with the Audit Office’s documented findings once it is formally laid in the National Assembly.
That makes the Gas-to-Energy project one of the key areas to watch as the 2025 audit report becomes public.
The project is among Guyana’s largest infrastructure investments and is designed to bring natural gas from offshore oil production to Wales, where it will be used to generate electricity and produce natural gas liquids. The first phase is designed around a 300-megawatt power plant.
Government has said the project is intended to reduce electricity costs and improve the reliability of the national power supply. As of September, the first gas turbine was expected to come online by the end of 2026, initially supplying about 57 megawatts to the grid.
Sharma was also questioned about the Natural Resource Fund and the examination of withdrawals from the fund.
The NRF is not simply a Bank of Guyana reporting exercise. Under the NRF Act, the Bank of Guyana is responsible for the Fund’s operations and investment-related functions, while the Auditor General serves as the external auditor. The Bank submits the Fund’s financial statements and the external auditor’s report for inclusion in the NRF’s annual reporting.
The Bank also publishes monthly and quarterly reports on the NRF’s financial performance.
Sharma did not disclose specific findings on the NRF during Friday’s briefing, instead directing attention to the audit report.
Guyana has separately been auditing petroleum costs submitted for recovery by the Stabroek Block consortium.
Sharma said the rapid expansion of Guyana’s economy and public spending is also forcing the Audit Office to expand its own technical capacity.
He pointed to the growth of the National Budget from G$383.1 billion in 2021 to a record G$1.558 trillion in 2026 and said the increase has been accompanied by more infrastructure projects, with greater value and complexity.
The Audit Office’s engineering staff have received Project Management Professional training to strengthen their ability to examine project quantities, costs, schedules, contractor performance and the allocation of time and resources.
He said the Audit Office is continuing to build that capacity, including through training and the development of specialised skills.
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