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ExxonMobil eyeing 8th project despite Jagdeo says 7th ‘iffy’
President, ExxonMobil Guyana Limited, Alistair Routledge (ExxonMobil eyeing 8th project)
Kaieteur News-American oil supermajor, ExxonMobil has constantly recognised Guyana for fostering an environment to propel the rapid pace of oil and gas projects. The company, is presently eyeing an eight development although its seventh project, Hammerhead may be in limbo.
Minister of Natural Resources, Vickram Bharrat during an engagement with the media had indicated that Longtail is anticipated to be the oil giant’s next local project. Bharrat told reporters, “already they are moving ahead with Hammerhead and we have heard talks that Longtail will come after that.”
The Longtail project, according to Bharrat will yield more gas, a key resource to this country’s energy security.
Presently, the Government of Guyana is pursuing a Gas-to-Energy (GTE) project that is expected to generate 300 megawatts of cleaner and cheaper electricity. The initiative will be supplied with gas from the Liza One and Liza Two projects in the Stabroek Block, however, with the reserves at the two projects dwindling and the project yet to start up, it is likely that other projects will be connected to the pipeline to supply gas to the Wales Development site on the West Bank of Demerara where the power plant is being constructed.
In June 2018, ExxonMobil announced the Longtail discovery, its eight successful find in the Stabroek Block. The company revealed that Longtail- 1 well was drilled in a new reservoir, encountering approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,057 feet (5,504 meters) depth in 6,365 feet (1,940 meters) of water.
Subsequently, Exxon announced the discovery of Longtail-3 in June 2021. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well was drilled in more than 6,100 feet (1860 meters) of water.
It should be noted that while Exxon has made an application to the Government of Guyana for its seventh project, Hammerhead, the Chief Policymaker for the sector, Vice President, Bharrat Jagdeo had made it clear that there is no guarantee approval would be granted.
During a press conference in August, Jagdeo when questioned on the seventh project said, “When and if…if and or when and if we approve the project then you will be told about what the benefits will be.” At that time, the former Head of State said the company had not yet made an application for the project.
Following the official application by the company, Jagdeo was again asked to comment on the project when he announced that government has discontinued an advertisement for a consultant to review the Hammerhead project. According to him, the information the company presented was incomplete.
(ExxonMobil eyeing 8th project despite Jagdeo says 7th ‘iffy’ )
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