Guyana has a great deal of promise in oil & gas

Guyana has a great deal of promise in oil & gas
 – Anadarko Petroleum Corporation official

Published on Friday, 27 January 2012

The largest independent oil and gas Company in the United States (US), Anadarko Petroleum Corporation, regards Guyana as a country with a great deal of promise in the oil and gas sector. International Business Developer of Anadarko Richard Lapin accompanied by another official of the company and, Head of the Petroleum Unit of the Guyana Geology and Mines Commission (GGMC) Noel Dennison met President Ramotar to renew its interest in petroleum exploration in Guyana. Minister of Natural Resources and the Environment Robert Persaud also joined the meeting.

Last September Vice President, Business Development of Anadarko, Ian J. Cooling led a delegation to former President Bharrat Jagdeo to signal the company’s interest in what is ranked one of the highly underexplored basins in the world.  Speaking briefly to the Government Information Agency (GINA) Lapin said that although there is much preliminary work still to be undertaken, the oil and gas outlook in Guyana is positive.
Anadarko had embarked on a geological assessment of the region in its frontier quest and believes that its technical and financial capacity will be a value added to the emergence of the oil and gas sector on the local shores. The Guyana Government had also received a proposal from Prime Energy LLC- Caribbean, a US based petroleum company to construct the first ever oil refinery in Guyana which officials say will create employment opportunities for approximately 100 persons.
President of the company Jerry Brooks had explained that the interest to establish a refinery in Guyana was stimulated by the fact that several countries around the world are looking to 20,000 barrels a day refineries for their countries given the high cost incurred to transport crude oil to the US for refining.
Meanwhile, several internationally renowned oil exploration companies are on the hunt for oil in Guyana’s territorial waters which is considered the second most attractive under-explored basin in the world. Repsol, a Spanish company is exploring through a joint venture with Tullow Oil, a London-based Company, CGX of Canada and YPF for the drilling of the Jaguar well.

The ExxonMobil/Shell joint venture is pursuing a drilling project on a deepwater offshore block and has since shot a large seismic survey, which is soon to be examined as a guide for the future.
Gas & Oil Promise look good in Guyana