Government and Repsol release contract

PRESS RELEASE
In fulfillment of its commitment to release major contracts between the Government of the Cooperative Republic of Guyana and companies in the petroleum sector, the Ministry of Natural Resources now makes available the contract between the Government and Repsol Exploracion Guyana. The contract document is available on the websites for the Department of Public Information (DPI) and the Ministry of Natural Resources; www.dpi.gov.gy and www.nre.gov.gy

Repsol is an international energy company, present in 37 countries and with activity throughout the energy value chain, including exploration, production, refining, chemicals, retail sales and the development of new energy solutions. The company’s mission is to provide energy safely and responsibly, and build a more sustainable energy future.

Tullow Oil, parent company of Tullow Guyana B.V. is a leading independent oil and gas exploration and production company, which has interests in 90 exploration and production licences across 16 countries that are in West Africa, East Africa and ‘New Ventures’, which includes Guyana and French Guiana and has entered into a contractual relationship with Repsol. The addendum evidencing this is also being released.

Repsol has been present in Guyana since 1997. The company’s current activity in Guyana is focused on the Kanuku block, 150 kilometers offshore Guyana. The company is targeting an oil prospect in the Kanuku block, where it plans to drill the first exploration well in 2019 to determine if hydrocarbons are present. The internal and external ESHIA (Environmental, Social and Health Impact Assessment) process will begin in 2018.

On Wednesday, May 23 Repsol’s Director Global New Ventures Mikel Erquiaga and a team from the company met with Minister of Natural Resources Hon. Raphael Trotman where they reiterated Repsol’s commitment to its Guyana operations and an aggressive programme of activities that would move swiftly from seismic surveys to exploratory drilling.

The release of the contract with Repsol fulfills the commitment made by Minister Trotman as it pertains to making available to the public, contracts within the petroleum sector. Going forward, the Ministry plans to make available to the public, contracts in the mining and forestry sectors. [END]

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