Grupo La Colina

More oil companies looking at drilling prospects in Guyana

Caribbean News-Published on September 28, 2013

GEORGETOWN, Guyana (GINA) -- Minister of Natural Resources and the Environment, Robert Persaud on Thursday informed the media that two large oil companies, Anadarko and Esso, both of which have concessions, are actively engaged in exploration activities offshore Guyana. Speaking at a press briefing, the minister disclosed that the activities of one of those companies is far advanced to the point where it is about to make a decision on mobilising a rig to commence drilling. Meanwhile, over the past few weeks, the state-of-the-art vessel deployed by REPSOL, Polarcus Asima, is currently carrying out seismic studies to collect the relevant data. Seismology is a geophysical method of determining geologic structure by means of prospector-induced elastic waves. Additionally, several other companies are carrying out similar studies; while another company is set to commence seismic studies within a couple of days. “So at any one time we will have three or four of those companies carrying out various forms of exploration work, all in our quest to tap into and realise the hydro-carbon potential of our offshore areas,” the minister said. The information garnered from these studies will inform the exploration teams on the way forward.