NEWS

Guyana Gushes More Oil

Following the U.S.-based oil firm, ExxonMobil, recent announced discovery of high-quality oil-bearing sandstone reservoirs.

The Government of Guyana has welcomed the new find of oil reserves within the Stabroek Block offshore.

It noted that this will add to the previously announced gross discovered recoverable resource estimate of more than nine billion oil-equivalent barrels.

Vickram Bharrat, Natural Resources Minister with responsibility for the Petroleum Sector, said as with previous discoveries, the government foresees this new development increasing the potential for additional floating production storage and offloading vessels.

U.S.-based oil firm, ExxonMobil, recently announced the latest discovery of high-quality oil-bearing sandstone reservoirs.

Readers Bureau, Contributor

Edited by Jesus Chan

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