BUSINESS

Guyana Keeps Gushing Oil

Oil company giant ExxonMobil recently reported its twentieth oil discovery on the offshore of Guyana.

The latest find was made at the Longtail-3 site in the Stabroek Block.

Vickram Bharrat, Guyana’s Minister of Natural Resources with responsibility for the Petroleum Sector, said the discovery will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be over nine billion oil-equivalent barrels.

Bharrat posited that this new development will further increase the potential for more floating production storage and offloading vessels.

Readers Bureau, Contributor

Edited by Jesus Chan

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