ExxonMo­bil and part­ners sig­nal in­ten­ti­ons to mo­ve to next oil pha­se

Times of Suriname - - ENGELS -

ExxonMo­bil, the US-ow­ned com­pa­ny that has struck oil in com­mer­ci­al quan­ti­ties off­sho­re Gu­y­a­na, has of­fi­ci­al­ly sig­na­led to Gu­y­a­na its in­ten­ti­ons to mo­ve to the next pha­se of ope­ra­ti­ons. Wed­nes­day the com­pa­ny which is col­la­bo­ra­ting with its part­ners Nexen Ener­gy and Hess Cor­po­ra­ti­on of­fi­ci­al­ly ga­ve no­ti­ce of its find of com­mer­ci­al quan­ti­ties of oil in the area via a let­ter to the Mi­nis­ter of Na­tu­ral Re­sour­ces, Rap­hael Trot­man. The mee­ting took pla­ce at the Mi­ni­stry’s board­room, on Brick­dam. ExxonMo­bil struck oil in its off­sho­re con­ces­si­ons ear­ly last year in its first well. It is about to drill its third well now. The com­pa­ny is ho­ping to start mo­bi­li­zing hea­vi­ly next year to pro­duc­ti­on pha­se. The news is big for Gu­y­a­na which is ban­king hea­vi­ly on the oil to mo­ve the coun­try. Mi­nis­ter Trot­man yes­ter­day no­t­ed that the no­ti­fi­ca­ti­on gi­ven by the oil com­pa­ny is one that is re­qui­red by Sec­ti­on 31 of the Pe­tro­le­um Act. The Mi­nis­ter poin­ted out that it is the first ti­me in Gu­y­a­na’s 50-year his­to­ry as an in­de­pen­dent na­ti­on, that the sec­ti­on of the act is being ac­ti­va­ted. “This is a pro­found and wa­ters­hed mo­ment in the de­vel­op­ment of our coun­try … so the­re is gre­at hu­mi­li­ty and gre­at res­pon­si­bi­li­ty that co­mes with the han­ding over and re­cei­ving of this let­ter,” Mi­nis­ter Trot­man ex­plai­ned in a govern­ment re­lea­se. Ad­di­ti­o­nal­ly, the Mi­nis­ter said that the Mi­ni­stry is ful­ly awa­re that eve­ry de­ci­si­on and ac­ti­on ta­ken will ha­ve an im­pact on Gu­y­a­ne­se for cen­tu­ries to co­me. The Mi­nis­ter poin­ted out that Govern­ment is wor­king di­li­gent­ly with the va­rious part­ners to meet ex­pecta­ti­ons and to build ca­pa­ci­ty for the oil and gas sec­tor.

The year 2016, Mi­nis­ter Trot­man said, is the year of foun­da­ti­on buil­ding, with 2017 being the year of im­ple­men­ta­ti­on of ear­mar­ked plans and pro­gram­mes. The Mi­nis­ter no­t­ed that the Mi­ni­stry will be rol­ling out a num­ber of plans in a few weeks. Fur­ther, Mi­nis­ter Trot­man no­ti­fied the oil com­pa­ny that the govern­ment is loo­king for­ward to re­cei­ving their de­vel­op­ment plan. The plan, the Mi­nis­ter sta­ted, “tells us that all the part­ners in this pro­ject are com­mit­ted, and that the in­vest­ment de­ci­si­on will be a po­si­ti­ve one next year, and that we could mo­ve to pro­duc­ti­on in the ear­liest pos­si­ble ti­me.”


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