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Exxon Mobil will begin exploratory drilling next month

Exxon Mobil on Thursday told the Guyana government that it would begin exploratory drilling in an offshore concession in March.

Minister of Natural Resources and the Environment, Robert Persaud’s ogfice said he wss updated on activities that the company will undertake over the next few weeks following a meeting with Mr. Chuck Calavan, ExxonMobil Vice President of US and Latin America and Mr. Jeff Simon, Country Manager, ESSO.

Minister Persaud was updated on the deployment of the Company’s oil rig (Deep Water Champion) which will depart from Louisiana, USA today to the Stabroek Block offshore Guyana where it is expected to commence drilling in mid-March.

To further enhance this effort, Minister Persaud stated that Cabinet has recently approved a request from ESSO for geological and geophysical survey in the form of 3D seismic survey within offshore Guyana. A permit has been granted to CGG Service (UK) Limited to undertake this survey.

He also made reference to the Oil and Gas Policy which will give way to a modern oil and gas development framework. This is being done with support from the Commonwealth Secretariat and other partners.

Additionally, in the Demerara Block, CGX has concluded 3D seismic survey and the data continues to be processed and a timeframe for delivery is to be scheduled. In the Berbice Block, ON Energy Inc. has completed an airborne geophysical survey and the data is being processed, Minister Persaud highlighted