Minister of Natural Resources, Raphael Trotman today announced to the Cabinet that the ExxonMobil oil company has made yet another major oil find in Guyana.
This time, the discovery has been made in the Pukura well.
In a brief statement, the Government also announced this afternoon that in the coming months, it will establish the Department of Energy, which will be housed in the Ministry of the Presidency.
Minister Raphael Trotman has been appointed head of the Task Force that will be responsible for submitting a proposal to Cabinet on how the Department of Energy is to be structured and staffed.
The Task Force will also comprise other Ministers of Government.
This latest discovery by Exxon comes even as there are calls for the Government to seek to renegotiate its contract with Exxon. Some local oil experts believe that Guyana should be pushing for a larger royalty share.
The current contract will see Guyana receiving a 2% royalty but 50% of the profits.