ExxonMobil has reiterated its commitment to oil exploration work here and its next investment may be as early as January next year.
The US company earlier this year announced what is believed to be a significant oil find offshore Guyana and this has raised the prospect of other wells being drilled.
The discovery was clouded by the collapse in international oil prices, which makes it less attractive for immediate extraction, and an aggressive campaign by Venezuela to scare off the US company from the site and further work in the area offshore Demerara.
A release yesterday from the Ministry of the Presidency said that the government through the Minister of Governance with responsibility for the state’s patrimony and natural resources, Raphael Trotman has extended its full support to the US company.
The release said that this commitment was communicated to the company by Trotman at a meeting, which was held with some of the company’s top executives at the Department of Natural Resources and the Environment Boardroom on Wednesday.
ExxonMobil’s team was led by Erik Oswald, ExxonMobil Exploration Vice President and included;
Craig Kelly, Senior Director for the Americas, International Government, Chuck Calavan, Vice President, South and Latin America, Jeff Johnson, Exploration Commercial Manager, Alison Rana, Public and Government Affairs Advisor, Jeff Simons, Country Manager Esso, Guyana, and Carlton James, Public and Government Affairs Manager, Esso, Guyana.
According to the Vice President of Exploration, the company was especially happy with the discovery made in Guyana.
“As you know we have had a discovery of what we thought was a very successful well. This was a very low probability well so it is one of these things we love to see. It’s a very risky investment so we are very pleased about that,” Oswald was reported in the release as saying.
Oswald added that the company remains committed to its work here and is looking forward to the next investment, which should take shape as early as January 2016, “All that work is underway right now. When the technical work is done, the others will be done. And the idea is, if we have a lot of success, we will bring additional rigs,” Oswald said. He stated that the rig, the “Deepwater Champion” left Guyana in June upon completion of its contract with the Corporation.
The government’s role in ensuring the Company’s right to continue its exploration in the Stabroek Block was also discussed during the meeting.
The release said that Trotman reminded the company’s representatives of President David Granger’s assurance that the block will be protected. “I give you my assurance. The commitment to the project is 110 per cent. We have no intentions of giving up on that partnership,” Trotman told the team.
Trotman also transmitted the government’s willingness to support and assist in any infrastructural needs, which may arise when the company expands its operations here.
Trotman also used the opportunity to update the company on the ongoing border controversy with Venezuela and the recent visit to Guyana of a team from United Nations Headquarters.
“The UN had a team here in Guyana… We are doing our best to get it resolved. We are pushing for a comprehensive and resolute result”, he stated.
