Enhanced oversight for oil operators’ exploration programmes

Enhanced oversight for oil operators’ exploration programmes — Bharrat

Sep 10, 2021 News

Kaieteur News – The Guyana Government has promised to increase its oversight of oil operators and their oil exploration programmes offshore Guyana in light of the new discoveries announced by Esso Exploration and Production Guyana Limited (EEPGL).

Minister of Natural Resources, Vickram Bharrat

At least, this is according to Minister of Natural Resources, Vickram Bharrat, who in welcoming the announcement of new oil discoveries offshore Guyana. He said in a public missive that “the Government of Guyana has mandated the Ministry of Natural Resources and the Petroleum Sector regulatory agencies to enhance the oversight and management of the exploration programmes of all operators as we seek to further expand the sector through advancing commercial discoveries. “
According to the subject Minister, while Government welcomes these new discoveries offshore Guyana, it “remains committed to the sustainable exploration and development of Guyana’s oil and gas resources.”
In this same vein, the Minister said, “I would like to reassure all Guyanese and stakeholders that this will be undertaken in keeping with international best practices for compliance and transparency within the petroleum sector and to ensure benefits are derived for all Guyanese.”
Speaking directly to the new discoveries, Minister Bharrat “is confident that these additional discoveries will serve to further catapult Guyana’s monumental transition as a country with world-class discoveries of high-quality hydrocarbon.”
As such, he said, “the Government of Guyana remains committed and persistent in engaging all stakeholders towards the beneficial development of these resources for all Guyanese in a sustainable and responsible manner.”
The Pinktail well spud by the ExxonMobil-led consortium has encountered high-quality hydrocarbon-bearing sandstone reservoirs at 67 meters within the Stabroek Block offshore Guyana. The discovery is in addition to EEPGL’s successful appraisal of the Turbot-1 and Turbot-2 discoveries at 13 meters and 23 meters respectively, which also encountered high-quality hydrocarbon.
Word of the enhanced oversight of the exploration programmes by oil operators comes even as EEPGL awaits permission for a 12-well, five-year drilling campaign in the Canje Block.

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