GEORGETOWN – The Ministry of Natural Resources yesterday facilitated briefings on developments in the oil and gas sector for Members of Parliament and the Leader of the Opposition and his team.
An ExxonMobil team headed by Country Manager Jeff Simons, briefed the two groups on the development of the Liza well for petroleum production.
Earlier, Members of Parliament were briefed at the Marriott Hotel, Kingston, and in the afternoon, Leader of the Opposition, Bharat Jagdeo and members of his party had a chance to hear from Simmons and have their questions answered. The briefing took place at the Office of the Opposition Leader, Church Street.
The briefings are part of the Ministry’s national outreach programme to update relevant stakeholders, institutions, members of the diaspora and the general public on Guyana’s progress in the new sector.
Guyana is expected to begin oil production by 2020. The country made its first oil discovery of commercial quantities back in 2015 by ExxonMobil and its partners who were exploring the Liza well in the 6.6 million acres Stabroek Block located offshore Guyana.
Last year, it was officially announced that the find is of commercial oil quantities equivalent to more than 1.4 billion barrels of recoverable high quality crude oil. Earlier this month, Exxon and its partners made another significant oil find in the Payara-1 well. (GINA)