Georgetown: US giant oil company Exxon Mobil said that the company is finalising preparations to begin drilling for oil off the coast of Guyana in March. The drill site is a deep water concession over 100 miles off the Guyana coast.
Exxon will undertake the activity under its subsidiary, Esso Exploration and Production Guyana Limited (EEPGL).
The area comprising 26,806 sq. km is known as the Stabroek Block and EEPGL intends to drill 1750 meters in 200-3000 meters deep water, Country Manager of (EEPGL), Mr. Jeff Simon said.
He said that the company has mobilised a special drill rig which will be on site next month.
The rig in the form of a huge ship, the length of two football fields, is one hundred and fifty feet wide and will accommodate some 200 workers for the duration of the drill.
Simon disclosed that the company was investing US$200 million into the venture and was hoping for a very big prize in return.
EEPGL opened a permanent office in Guyana at 99 New Market Street, North Cummingsburg, Georgetown last November.
The investment was welcomed by President Donald Ramotar during the opening of the EEPGL local office.
Simon said yesterday that the pace for drilling has picked up considerably since then.
Exxon Mobil is the world’s largest publicly traded international oil and gas company and has been in operation for the past 130 years.
You must be logged in to post a comment.