The government of Guyana has awarded a deepwater exploration license to a subisidary of Anadarko Petroleum Corporation.
The government reported Tuesday it had signed an agreement with Anadarko Guyana Company to undertake exploration in Guyana’s Exclusive Economic Zone.
Anadarko and the Guyana government have been discussing potential exploration plans since last year. The company has submitted a number of technical proposals and holding discussion with senior government officials, including President Donald Romator.
Anadarko will begin studying available data for the concession acreage, the Roraima Block, to identify potential drilling blocks.
The Anadarko agreement follows the recent license award to NABI Oil and Gas Inc. to undertake drilling on the coast of Guyana.
The government's cabinet also has approved a proposal by the Ministry of Natural Resources and the Environment to establish a Petroleum Advisory Board to overlook the oil and gas sector. The Commonwealth Sector is reviewing Guyana’s regulations governing the petroleum sector to make it more investor-friendly for oil exploration investment.
Addtionally, the government is also collaborating with a number of external partners including the US, Canada, and Trinidad and Tobago to enhance its capabilities in the development of the oil and gas sectors.
"The Government of Guyana will continue to work with all stakeholders to ensure necessary precautions and environmental safeguards are in place to develop a sustainable oil and gas industry," the government said in a statement.
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