Latest update December 16th, 2024 9:00 AM
Future Seismic programme for Stabroek Block hinges on ICJ decision
The licence holders of the Stabroek Block are hopeful to have a seismic programme conducted on the northern part of the offshore concession but it appears that would be hinged on the final outcome of Guyana’s application to the International Court of Justice (ICJ) on the territorial issue with Venezuela.
Hess Corporation CEO, John Hess
This was noted by Hess Corporation’s CEO, John Hess, at the Bernstein 35th Annual Strategic Decisions Conference that was held some weeks ago.
At that event, it was noted that there is a portion of the block that has been contested by the Venezuelans. As a result, the seismic activity which aids in the planning of the drilling programme for the northern part of the block has been delayed.
On this note, Hess was asked at the event to state the timeline for returning to that portion of the block but a definitive one was not provided.
The CEO said nonetheless that the issue is one that will be solved diplomatically while noting that that part of the block has no impact on its other investment programmes which include Liza Phase One and Two in the eastern portion of the block.
Map showing the line demarcating the ongoing claim by Venezuela
The CEO further stated that the partners would like to have a seismic programme in the northern part of the block to see what the prospectively is. He reminded, however, that there is a difference about where the property line drops.
It is a matter whose history goes back to 1899.
Hess said that the United Nations, CARICOM and even the US Government support Guyana on this matter “…and we will wait for that decision.”
Documents which belong to the Guyana Geology and Mines Commission (GGMC) show that Venezuela’s unsubstantiated claim has affected exploratory works on the Roraima block which is operated by Anadarko, and the Kaieteur block that is operated by ExxonMobil, Ratio Energy, Cataleya and Hess.
Last year, ExxonMobil was forced to pause its 3-D seismic operations which were close to the northern part of the Stabroek Block following an incursion by the Venezuelan military. ExxonMobil’s Head of Public and Government Affairs, Deedra Moe, had said that the operations were halted to ensure the safety of crew members.
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