ExxonMobil: Oil Prospecting Off Guyana Shows Promise
GEORGETOWN, Guyana (AP) — The latest effort to find oil and natural gas in disputed waters off Guyana is showing promise, a representative of Exxon Mobil in the South American country said Thursday.
Exxon Mobile country manager Jeff Simons said a bore hole in the Atlantic Ocean in an area claimed by Venezuela has produced positive results though he declined to discuss specifics about what had been found.
"We have found hydrocarbons but we are still evaluating to see to what extent it is in commercial quantities," Simons said. "We do not want to go too far down the road at this point. We will know after the testing and evaluation are done."
Natural Resources Minister Robert Persaud planned to meet with company officials and discuss the find.
Decades of exploration in Guyana have yet to locate a viable source of oil or gas despite the proximity of energy-rich Venezuela and Trinidad and Tobago.
Venezuela has long claimed about two-thirds of Guyana's territory as well as the offshore area where Exxon Mobil began drilling in March.
In October 2013, the Venezuelan navy detained an oil research vessel operating under contract for U.S.-based Anadarko Petroleum Corp. Guyana Foreign Minister Carolyn Rodrigues-Birkett said in March that the country would push ahead with exploration in the area despite protests by the Venezuelan government.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Bankrupt Sri Lanka Takes Russia Oil
- FERC Approves Gas Pipeline Projects To Increase U.S. Exports
- A Guide to the Week's Oil and Gas Market Hits and Misses
- Windfall Tax Branded a Backward Step
- U.S. Announces First Ever Offshore Wind Sale On Pacific Coast
- BSEE Evaluates Lobo Operating's Fire Boom System
- Chevron Investors Go For Energy Transition In Near-Unanimous Vote
- Oil And Gas Exploration In 2021 Resilient Regardless Of Pandemic
- DOI Invests $33MM Putting People to Work in Orphaned Well Program
- Crestwood Makes $1.19B Worth Of Asset Transactions
- Oil Inventories Down to Dangerously Low Point
- USA Fuelmakers Shifting Into Higher Gear
- ExxonMobil Selling Shale Assets for $750MM
- Shots Fired During Tanker Loading
- NPD Grants Slew of Drilling Permits
- World's Oil Growth Engine Is About to Slow
- Saudi Arabia Says It Has Done All It Can for the Oil Market
- Bankrupt Sri Lanka Takes Russia Oil
- FID For $13.2B Louisiana LNG Project
- BlackRock Told Texas It Will Still Invest In Oil And Gas
- Russian Oil Producers Start Using Tankers the World Did Not Want
- ADNOC Announces 650MM Barrel Oil Find
- Finland Loses Main Gas Supply
- This Is Where the Oil Price Would Be Without the War
- Ban on Excessive Gasoline Prices Heading for Vote
- Oil Inventories Down to Dangerously Low Point
- Top Headlines: Be Prepared to Pay More at the Pump from June
- USA Fuelmakers Shifting Into Higher Gear
- Gas Prices Could Rocket in the Near Term
- ExxonMobil Selling Shale Assets for $750MM