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Second well confirms Guyana’s massive oil reserve


Exxon Mobil has drilled another well on the shores of Guyana. This drill has confirmed that Guyana’s oil reserve is even larger than believed.  The new well—Liza Two—is said to be just as promising as the first.
Kaieteur News was recently informed that there was a new find. However, when contacted yesterday, Minister of Natural Resources, Raphael Trotman said, “I would not say that there was a new find; it is more of an appraisal.”
The Minister explained that there has indeed been a new well—Liza Two—but said that this is an appraisal well. “It serves as an appraisal for the last find.”
Trotman said that tests have been carried out over the last few weeks “and I hope to get a report soon on those tests.”  The Minister said that he couldn’t  speak any further until the report has been received and he has more information on Liza two. The report will indicate quantity.
Minister of Natural Resources, Raphael Trotman

Minister of Natural Resources,
Raphael Trotman

Kaieteur News understands that the drilling of the second well commenced in April. The appraisal well was put down a short distance away from the first well that Exxon Mobil drilled—Liza One.  The fact that another drill in such close proximity to Liza One has been found to be lucrative speaks to how wide the reserve actually is.
Last year Exxon made a deepwater Liza oil discovery in the Stabroek Block, located around 120 miles offshore Guyana.
Even with the initial find, experts said that Guyana will be placed prominently on the oil and gas map.
While oil prices are currently low, history shows that it always goes back up.  Exxon Mobil is a United States Of America Company. United States Ambassador to Guyana, Perry Holloway, told Kaieteur News that the low oil prices is actually a good thing for companies currently exploring as need for equipment and expertise can be sourced at a far lower price as compared to when oil is doing well.
Guyana would not begin pumping oil out of the ground until another few years. It is hoped that by that time oil prices will be up again. (Abena Rockcliffe-Campbell)

Replies sorted oldest to newest

Georgie posted:

Minista Trotty can be the next President, but he got to get past Harmun.

Granger has one more term and then it will be Trotman or Nigil or someone with more broad base appeal. Harmon has no chance. His character is flawed and that came out with his resonant "I will not apologize". Besides Trotman and NIgil the APNU/AFC has zero appeal.

FM
Danyael posted:
Georgie posted:

Minista Trotty can be the next President, but he got to get past Harmun.

Granger has one more term and then it will be Trotman or Nigil or someone with more broad base appeal. Harmon has no chance. His character is flawed and that came out with his resonant "I will not apologize". Besides Trotman and NIgil the APNU/AFC has zero appeal.

You speak as if the AFC component will be around  and contribute  the  same as far as electoral votes are concerned.

The AFC has been diminished and th PNC is not showing leadership. As time receded the PPP's past misdeeds will seem distant. These are the ingredients for a possible one-term coalition government. It can be a 5-year term or a 2 year-term.

Kari
Kari posted:
Danyael posted:
Georgie posted:

Minista Trotty can be the next President, but he got to get past Harmun.

Granger has one more term and then it will be Trotman or Nigil or someone with more broad base appeal. Harmon has no chance. His character is flawed and that came out with his resonant "I will not apologize". Besides Trotman and NIgil the APNU/AFC has zero appeal.

You speak as if the AFC component will be around  and contribute  the  same as far as electoral votes are concerned.

The AFC has been diminished and th PNC is not showing leadership. As time receded the PPP's past misdeeds will seem distant. These are the ingredients for a possible one-term coalition government. It can be a 5-year term or a 2 year-term.

The AFC is effectively merged. They cannot disentangle. The APNU has no credible candidate besides Granger. You cannot elevate any of the others and the younger ones does not have an intellectual provenance or a commanding presence.

It is not about the PPP misdeeds. It is about the PPP also having no one who can divorce themselves from the past and the young ones like Ramson are seen as bloated headed pompous primpified nitwits. They have no ready face and the older crooks will not relinquish their leadership. Most of them have some 2 decades more of life to their stranglehold on the party.

Then there is the demographics. Indians cannot win on an Indian only party identification. The APNU have a great block by block count of the electorate using US software. That together with use of state assets, external help will suffocate the PPP out of existence.

FM
Kari posted:
Danyael posted:
Georgie posted:

Minista Trotty can be the next President, but he got to get past Harmun.

Granger has one more term and then it will be Trotman or Nigil or someone with more broad base appeal. Harmon has no chance. His character is flawed and that came out with his resonant "I will not apologize". Besides Trotman and NIgil the APNU/AFC has zero appeal.

You speak as if the AFC component will be around  and contribute  the  same as far as electoral votes are concerned.

The AFC has been diminished and th PNC is not showing leadership. As time receded the PPP's past misdeeds will seem distant. These are the ingredients for a possible one-term coalition government. It can be a 5-year term or a 2 year-term.

Why waste time. They do not have what it takes to develop the country. A two-year term could not come any sooner.

S
Kari posted:
Danyael posted:
Georgie posted:

Minista Trotty can be the next President, but he got to get past Harmun.

Granger has one more term and then it will be Trotman or Nigil or someone with more broad base appeal. Harmon has no chance. His character is flawed and that came out with his resonant "I will not apologize". Besides Trotman and NIgil the APNU/AFC has zero appeal.

You speak as if the AFC component will be around  and contribute  the  same as far as electoral votes are concerned.

The AFC has been diminished and th PNC is not showing leadership. As time receded the PPP's past misdeeds will seem distant. These are the ingredients for a possible one-term coalition government. It can be a 5-year term or a 2 year-term.

The PNC component of the AFC will be around!

FM

Many of us have been misled into believing that only Indians are leaving Guyana for North America permanently or on holiday. The fact is that Black people are also running out of Guyana just the like the Indos. Take a look at the people who are waiting at the US embassy for visas and you will a significant number of them are Blacks. 

More Indian babies are born than African. The Indian population is not dwindling as fast as the PNC would like us to believe.

 

Billy Ram Balgobin

ExxonMobil set to drill more oil wells

Source

June 27, 2016

American oil firm ExxonMobil will be drilling more wells after an appraisal well confirmed the presence of a significant deposit of oil in the location close to where the first well was drilled.

A senior official yesterday confirmed that the Liza-2 appraisal well was recently completed and it confirmed the large deposit of hydrocarbons within the vicinity of the first well, the Liza-1, where the company hit oil last year. However, it was pointed out that all the particulars such as how big the reservoir is, the conditions of the reservoir such as the pressure within and so on, have not yet been determined.

ExxonMobil will now expand its drilling campaign.

In an ad in yesterday’s Kaieteur News, the Maritime Administration Department advised that Esso Exploration and Production Guyana Ltd which operates as the local subsidiary of Exxon Mobil Corporation, will commence a drilling programme within the Stabroek Block offshore Guyana on July 1. This exercise is scheduled to last for six months. The drill site is approximately 116 nautical miles from the coast of Guyana and covers an area of four square kilometres, the ad said.

Several ships will be used and all mariners are requested to stay clear of the vessels and navigate with caution when in its vicinity.

A high-level source told Stabroek News that the Liza-2 well was recently completed and confirmed the large deposit. The new wells to be drilled form part of an appraisal programme to try and define the limits of that particular deposit, the source said. The source added that when this is completed, the company would then be definitively be able to say “OK this reservoir is productive and commercially so.”

Stabroek News was also told that other wells are to be drilled in ExxonMobil’s Stabroek block that pertain not only to the first discovery area but to potentially new discovery areas. It was noted too that the Liza-1 well is in deep waters and there are some peculiarities in the way it was drilled.

Bryan Hunt, the outgoing Deputy Chief of Mission at the US Embassy here, had told Stabroek News last week that revenues from ExxonMobil’s oil find here could be at least four times Guyana’s national budget at current market prices. He said that if the price rises, or more oil is discovered, it could be significantly more.

In May last year, ExxonMobil reported a “significant oil discovery” at its Liza-1 well offshore Guyana. It had been previously reported that with the new drilling programme that began earlier this year, the American firm is likely to drill between four to six wells split between an appraisal of Liza as well as wildcats.

Other oil exploration companies are also moving forward with their exploration programmes that could see drilling activities commence soon.

Django

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