POLITICS

Guyana Spews More Oil

The Cooperative Republic of Guyana seems to be floating in oil as US-based giant, ExxonMobil, has made its 16th oil discovery offshore the territory.

The exploration success in the emerging province is showing little sign of slowing.

Dr. Mark Bynoe, Director in the Department of Energy, said the new discovery was made northeast of the producing Liza field at the Uaru well, on the Stabroek Block.

He said this new discovery coupled with all other discoveries brings the estimated resource for the Stabroek Block to more than eight billion oil-equivalent barrels.

Yvad Billings, Readers Bureau, Fellow

Edited by Jesus Chan

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