Hours after the Exxon Mobil oil company announced a “world-class discovery” of oil and gas offshore Guyana, the government declared that it is excited and humbled by the news.
President David Granger is expected to issue a statement on the new discovery but Natural Resources Minister Raphael Trotman told the local media on Thursday that the announcement by the U.S oil giant is in total contrast to the claims of doom and gloom in the sector.
The Minister said the find is likely to send ripples throughout the world and while the government is happy, it also understands that the responsibility is in no way, an ordinary one.
“This here is fantastic news. The future of Guyana has now been written and I think that this is going to send ripples throughout the world. We are happy but at the same time humbled,” he said.
Trotman told reporters that the government understands the prospects and has already reached out for support and guidance, both locally and internationally.
“We are happy to say that at present Guyana is receiving support from the Canadian Government, the U.S Government, Mexican Government, the EU, the Commonwealth Secretariat.. we have a strong body of international support,” he added.
ExxonMobil itself is helping to prepare the Guyanese population for the proceeds of the discovery and has held sessions at the University of Guyana and Technical Institutes.
ExxonMobil said on Thursday that drilling results from the Liza-2 well, the second exploration well in the Stabroek block offshore Guyana, has between 800 million and 1.4 billion oil-equivalent barrels.
Last year, another major discovery of oil deposits was made in the Liza – 1 well. The Liza wells are located in the Stabroek block approximately 120 miles (193 kilometers) offshore Guyana. Data from the successful Liza-2 well test is still being assessed.
The Liza-2 well was drilled by ExxonMobil affiliate Esso Exploration and Production Guyana Ltd., approximately 2 miles (3.3 km) from the Liza-1 well.