Guyana eyes Surinamese oil markets – Minister Bharrat

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Natural Resources Minister Vickram Bharrat today disclosed that Guyana has its eyes on oil markets in Suriname.

He was at the time delivering remarks during the launch of the Guyana Oil and Gas Energy Chamber (GOGEC) training center and inaugural training session.

“We want Guyana to be the hub for the Guyana Shield. That is what we want to establish Guyana as. Brazil is a bit ahead of us because they would have advanced a little more than us, but with Suriname, we can definitely tap into the market in Suriname,” he explained.

“I believe, as a country we can target the Suriname market, since they are new in the oil and gas sector and we as a nation, we would’ve move forward over the last year or so at a rapid [speed] in developing how we manage the oil ad gas sector and that is important,” he added.

According to Minister Bharrat, the country’s oil and gas sector is primarily focused on the Stabroek Block offshore but he said, there is tremendous potential in the other blocks.

“I’m happy to report that we have exploration activities in Canje, in Kaieteur and in another two weeks we’ll have drilling in the Corentyne block by CGX frontier. So, we’re also looking forward for those blocks going into production at some point and time going into the future,” Minister Bharrat said.

He said as of today, there are six drill ships operating offshore Guyana.

“As a government and as Guyanese, we are very hopeful that we will find significant or commercial quantities of hydrocarbon in the other blocks, as we would’ve done in the Stabroek block,” Minister Bharrat expressed.

Nine billion barrels of oil is predicted in Guyana’s oil boon and with 20 discoveries under its belt, the estimated recoverable barrels is expected to increase with more finds.