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More oil for Guyana.

The Guyana government Monday announced that the US-based oil giant, ExxonMobil, has made its 16th oil discovery offshore Guyana.

Director in the Department of Energy, Dr. Mark Bynoe, said the new discovery was made northeast of the producing Liza field at the Uaru well, on the Stabroek Block

He said this new discovery coupled with all other discoveries brings the estimated resource for the Stabroek Block to more than eight billion oil-equivalent barrels.

'The Co-operative Republic of Guyana welcomes this new discovery, which follows closely on the heels of the start of oil production on December 20, 2019. All Guyanese should welcome this new discovery and should begin to appreciate that the nation is on the cusp of major economic transformation and sustained development.

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Publication:CANA News
Geographic Code:3GUYA
Date:Jan 27, 2020
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