Gov’t welcomes 21st  and 22nd oil discoveries

See full statement from Minister of Natural Resources Vickram Bharrat:

It gives me great pride as the Minister of Natural Resources with responsibility for the Petroleum Sector and on behalf of the Government of Guyana, to announce Guyana’s 21st and 22nd Offshore Oil Discovery at the Whiptail-1 and Whiptail-2 Wells within the Stabroek Block offshore.

The respective discoveries will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be over 9 billion oil-equivalent barrels.

As with discoveries prior, the Government of Guyana foresees this new development increasing the potential for additional floating production storage and offloading vessels (FPSO). This is further set to increase the estimated recoverable resource given by the operator, Esso Exploration and Production Guyana Limited (EEPGL).  In this regard, the Ministry and the Petroleum Sector regulatory agencies remain committed to working with all operators, in efforts to expedite their respective drill programmes as we seek the sector’s expansion.

The Government of Guyana welcomes these new discoveries Offshore Guyana and reinforces its commitment to the sustainable exploration and development of Guyana’s Oil and Gas Resources. This we commit to do with the highest level of compliance and transparency to ensure that the benefits from this sector improve the lives of all Guyanese.

Hon. Vickram Bharrat M.P.,

Minister of Natural Resources

July 28, 2021