Minister of Natural Resources Raphael Trotman yesterday announced another major oil find by ExxonMobil as well as the government’s decision to establish a Department of Energy which would take responsibility for the petroleum sector.
Following yesterday’s Cabinet meeting Trotman announced via the Department of Public Information (DPI) that the Pacora-1 well has in the last 48 hours become the site of Guyana’s seventh major oil discovery. The quantity and value of this discovery is expected to be announced today by ExxonMobil.
The Pacora-1 drill site which covers an area of one square kilometer is 107 miles from the coast of Guyana and 4 miles from the Payara well.