Esso hits oil in Guyana; determining quantity of find

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Natural Resources and Environment Minister, Robert Persaud. [iNews' Photo]
Natural Resources and Environment Minister, Robert Persaud. [iNews’ Photo]
[www.inewsguyana.com] – Minister of Natural Resources and the Environment, Robert Persaud has announced that Esso exploration well, the Liza-1 on the Stabroek Block, using the drill-ship, Deepwater Champion located approximately 120 miles offshore Guyana, has encountered Hydrocarbons. The majority of hydrocarbons found on Earth naturally occur in crude oil.

A press release from the Ministry noted however that 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,” the release noted.

According to release, Minister Persaud remains optimistic of a hydrocarbon discovery of commercial quantities which will further transform Guyana’s economy for the benefit of all Guyanese.drill

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.

The company, an affiliate of ExxonMobil, holds 45 percent interest, while Hess Guyana Exploration Limited holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

 

8 COMMENTS

  1. It’s rather ridiculous the way some of us think, my personal belief is no one political party should be allowed to run/ manage the affairs in one country for more than two terms. people tends to get complacent when they’ve been in control for extended periods of time. Hence, i threw my support fully behind the collation. The previous Government has become complacent and incompetent to continue managing the affairs of our country. Note: This is my view and at the same time i do respect the view of others.

  2. Esso did not hit any oil. We all know that’s a political stunt, for the PPP so that they can say or take credit for to real oil to be found if there is really any in Guyana.

  3. Let’s all get out on Election Day and vote for progress to continue. VOTE FOR THE CUP.

  4. Granger was never a politician because if he had quality Burnham would have had him in some ministry. Hoyte didn’t even had use for him in any ministry either. Would Corbin given him any political position should he had get in power, the answer is no. The guy is not a politician and he is not too happy working with people who are more educated than him. This tells the nation that they can only expect a dictatorship style leader. His only experience is in the military field.

  5. Attention all haters!
    God Bless Guyana!
    God bless President Ramotar!
    God bless President Jagdeo!
    God bless the PPP!
    God bless Guyana’s CHAMPION!
    Long Live the PPP!

  6. bad news for the PNC/KFC,they should wait after elections to announce this,Granger and Naga gon have sleepless nights thinking about all that money coming in and them cant get their hands on it,hope Greenidge nah hear as yet because he heart na too good,Vote the CUP.

  7. Black Gold for all to benefit from. Vote PPP/C for continue progress and a better life for all Guyanese.

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