Minister of Natural Resources Mr. Raphael Trotman, and a team, yesterday toured oil giant ExxonMobil’s storage yard at the Wieting and Richter Wharf in Georgetown to get a closer look at the company’s drilling pipes and other equipment, as it prepares to start drilling its second well here.
Minister Trotman was accompanied by Minister of Business, Mr. Dominic Gaskin and Minister of Public Infrastructure, Mr. David Patterson on the visit.
In 2015, ExxonMobil drilled the Liza-1 well in the Stabroek Block and found a significant amount of hydrocarbons that indicates the presence of oil in commercial quantities. A drilling vessel arrived in Guyana’s waters a few days ago to commence drilling the Liza-2 well in the same block.
Minister Trotman will be visiting the Stabroek Block to tour the vessel in a few weeks.
A report from GINA quoted Trotman as saying yesterday: “We have satisfied ourselves that Guyana has oil and this now will go to ascertain, perhaps, how much of it we really have. This well is going to be near to the first one to see how wide and how deep the reservoir is.”
He added that both Ministers Gaskin and Patterson have a vested interest in the development of the oil and gas sector, since the presence of oil tends to have a ripple effect on the services, construction and transportation sectors.
“We are looking at construction. We are looking at jobs. We are looking at what is known in the industry as local content to ensure that Guyanese are aware of what is happening and have [their] fair share,” Minister Trotman said.
While acknowledging the need to exercise cautious optimism in the oil business, he said that the level of preparation and investment that ExxonMobil is making is evidence of its confidence that a significant amount of oil is there to be extracted.
The fact that oil is found in Guyana is exciting, an abundance of jobs will become available, lives will be improved etc etc etc, but what percent of the population will really be raised out of poverty? I am thinking about Trindad, Venezuala, Brazil, Nigeria, the Middle East etc where there is oil, yet there is still astounding abject poverty present in those areas. Will Guyana be any different or will the rich become richer, a number of the middle class will be elevated to millionaire and billionaire status. What are the measures under consideration to eradicate poverty out of Guyana based upon the discovery of oil? It appears that there is an obscene quantity of oil to be found, so will poor Guyanese be offered a hand up? Just my concern.
And the Dream for Oil continues
ExxonMobil to commence drilling second well soon..
Drill and cap and nothing more..
Tratman said in 10 year time or more Guyana will be the economic power house.
In 10 years time you think Exxon will be drilling when oil prince reaches about 15$?
Tratman should check in with Texas and see if the over 700 drills are still in Texas right now.