BREAKING NEWS | Another major oil find by ExxonMobil, Department of Energy to be established
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DPI, GUYANA, Tuesday, February 27, 2018
Minister of Natural Resources, Raphael Trotman today announced another oil find by oil and gas exploration company ExxonMobil.
The discovery, at the PACARO field, some four miles from the Payara well in the Stabroek Block, was made over the last two days.
Minister Trotman made the official announcement earlier today, minutes after leaving Cabinet.
“To date, we have overseen the drilling of seven wells by Exxon, six of which has borne fruit in that they have proven good, one has not but so far we have excellent record and I would like to congratulate the crew Stena Carron which has been the ship that has done 90 percent of the discoveries without a day lost, or any injuries or any man-hours lost and that is commendable and of course it has been done in a way.”
This announcement comes less than three months after a similar announcement was made on January 5 this year.
The government will also establish a Department of Energy, which will focus exclusively on the development of the petroleum sector.
The department, which will be established in a few months’ time, will be housed at the Ministry of the Presidency. A task force to be headed by Minister Trotman will be established and will undertake the responsibility of laying out how the new department will function.
Other members will include Ministers of State, Finance, Public Infrastructure, and Business. Other ministries including, Public Security and Communication will also be included in the Task Force.
By: Alexis Rodney
See below, the minister’s full statement
“Today coming out of Cabinet’s meeting I’d like to give an update to the public (on two matters).
ANOTHER MAJOR OIL FIND
The first is that another discovery of petroleum has been made, this time in the Pacora Well, which is about four miles in the Payara Well in the Stabroek Block and more details of this latest discovery which has occurred within the last 48 hours will be shared with the nation as we continue to have an aggressive programme of exploration and of course as we proceed towards production in 2020.
To date we have overseen the drilling seven wells by ExxonMobil (and its partners), six of which have borne fruit in that they have proven good, one has not but we have so far we have excellent record and I would like to congratulate the crew of the Stena Carron which has been the ship that has done 90 percent of the discoveries without a day lost, or any injuries or any man-hours lost and that is commendable.
Establishment of the Department of Energy
The second announcement is that last year I did propose to His Excellency, the President (David Granger), that we begin considering the establishment of a Department of Energy which department will be the one that is focused only on the development of the petroleum sector and today we had a very lively discussion on the proposal which I presented and it has been determined and decided that we will have the department of energy established and this will be coming within the next few months. It will be housed at the Ministry of the Presidency (MoTP). The President and cabinet have mandated that I would head the task force which will comprise the quintet of ministers, that would be ministers of Finance, State, Public Infrastructure, Business and myself. We will include the other ministers of Public Security, Public Communication, Education and Social Protection. This task force will be meeting and will make a proposal of how the new Department of Energy will be comprised, staffed and what its mandate will be. Eventually, the expectation is the ministry of Natural Resources will hand over the responsibility of the function of Petroleum to this department and, we will see a more direct and focused mandate from this Department of Energy, that we will of course as a cabinet be supporting the department. So this is good news, the discovery and the decision by cabinet to have a department of energy that only focus on the development of our petroleum resources.