Guyana’s Ministry of Natural Resources in a release on Thursday announced that Hydrocarbons have been discovered offshore Guyana which could possibly translate to oil for commercial purposes.
The discovery was made by Esso exploration well, the Liza-1 on the Stabroek Block, using the drill-ship, Deepwater Champion located approximately 120 miles offshore Guyana.
However, according to Subject Minister Robert Persaud, it is too early to confirm whether there are commercial quantities of hydrocarbons, specifically light crude.
Minister Persaud revealed that a full evaluation of the results is underway from the exploration company.
“Further, the Natural Resources and the Environment Minister remains optimistic of a hydrocarbon discovery of commercial quantities which will further transform Guyana’s economy for the benefit of all Guyanese,” Persaud said.
In the first half of 2015, Esso Exploration and Production Guyana Ltd. (EEPGL) drilled an exploration well, the Liza-1 prospect, on the Stabroek Block, using the drill-ship, Deepwater Champion.
Esso Exploration and Production Guyana Ltd. (EEPGL), an affiliate of ExxonMobil, holds a 45 percent interest.
Hess Guyana Exploration Limited holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.
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