[www.inewsguyana.com] – President David Granger on Thursday, May 21 toured the rig of ExxonMobil which is currently operating in the Stabroek Bloc offshore Guyana where it has found oil in significant quantities.
The newly-elected Head of State accompanied by members of the APNU+AFC government toured the facility and was updated by the crew on the oil discovery.
President Granger made it clear that the oil discovery was something that his government welcomed.
“We are one of the Guianas, and it is a rich part of the world, in terms of rainforest, current, minerals, so I am glad that we have opened the door, I am glad that you are a part of opening the door for us,” the President said.
He also mentioned his earlier commitment, prior to assuming office, of the creation of a Sovereign Wealth Fund, so that the disposal of any natural resource will go towards benefiting the people of Guyana.
Meanwhile, Minister of State in the Ministry of Presidency, Joseph Harmon who was also on the trip, noted the level of enthusiasm on the rig itself because of the finding. He also assured that Guyanese will not be excluded from whatever wealth comes out of the venture.
“We believe that good days are ahead for Guyana,” Harmon said but cautioned that “the time between an announcement and the use of that facility could very well be a couple of years.”
Harmon noted however that the company is very “bullish about what they have found and they believe that the investment that is needed to take it to the next level is almost assured.”
He said that Government is satisfied that ExxonMobil is doing what needs to be done and, whatever happens out there will redound to the benefit of the Guyanese people.
“Guyanese people can all be assured that whatever comes out of the sovereign wealth of this nation, that they will be part of it, that they will benefit it.”
ExxonMobil on May 20 disclosed that it has found a deposit of a ‘significant’ amount of oil in the Stabroek Block, about 120 nautical miles offshore Guyana. The company said this discovery was made in one of the two wells it dug, in the Liza-1 drill site which realised more than 295 feet of high-quality oil-bearing sandstone.
In the released statement, President of ExxonMobil Exploration Company Stephen Greenlee, said, “I am encouraged by the results of the first well on the Stabroek Block…over the coming months we will work to determine the commercial viability of the discovered resource, as well as evaluate other resource potential on the block.” [Extracted and modified from GINA]