Government has issued a statement of congratulations to ExxonMobil and its joint-venture partners Hess and CNOOC Nexen for their latest discoveryat the Turbot-1 wellin the Stabroek Block offshore Guyana.
The operator has announced that the well located approximately 30 miles from Liza phase one project in the Stabroek Block offshore Guyana, has encountered a reservoir of 75 feet of high-quality, oil-bearing sandstone.
This is according to information out of the Ministry of Natural Resources.
The announcement of the oil find, follows that of the Payara-2 discovery in July 2017 and is another important milepost in Guyana’s journey towards becoming an oil producing country.
This latest discovery also underscores the need for continued capacity building not only of Government and its agencies but also of the private sector, civil society and individuals to ensure that they contribute to and benefit from the oil and gas sector in an equitable manner.
The Natural Resources Ministry said that it looks forward to the support of all stakeholders as it puts in place a strong regulatory and fiscal framework to ensure that production of petroleum is carried out in a transparent and accountable manner and in a way that is respectful of the environment.
As such the Ministry expressed its appreciation to all local, regional and international partners working to bring Guyana to the point of readiness for the emerging oil and gas sector and calls on the People of the Cooperative Republic of Guyana to embrace the new reality of Guyana.