Sun | May 22, 2022

ExxonMobil makes more oil discoveries in Guyana

Published:Wednesday | January 5, 2022 | 8:00 PM
US-based oil and energy giant ExxonMobil announced today that it made two oil discoveries in the Stabroek block offshore Guyana.

GEORGETOWN, Guyana, CMC – The Guyana government today welcomed the announcement by the US-based oil and energy giant ExxonMobil that it made two oil discoveries in the Stabroek block offshore Guyana, adding to the previously announced recoverable resource estimate for the block of 10 billion oil-equivalent barrels.

Natural Resources Minister Vickram Bharrat said the government “remains confident” that these two additional discoveries, which add to the 26 commercially feasible finds, will further strengthen Guyana's position as a country with world-class discoveries of high-quality hydrocarbon.

“Therefore, the government will continue engaging all stakeholders towards the exponential development of these resources for all Guyanese while maintaining a social, economic, and environmental balance,” Bharrat said.

“In addition, the government of Guyana is continually examining possibilities to strengthen oversight and management of the exploration programmes of all operators to further expand the sector through commercial discoveries.”

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