Guyana expects Exxon to apply for seventh offshore development in 2024

The government of Guyana expects the Exxon-led Stabroek block co-venturers to propose a seventh offshore development in 2024. Minister of Natural Resources, Vickram Bharrat said the government budgeted GY$100 million (approximately US$480,000) to review the application.

“We have dealt with Payara. We have dealt with Yellowtail. We have dealt with Uaru. Now, we are dealing with Whiptail. And we are anticipating that another [field development plan] will come in at some point in time this year,” Bharrat stated.

Bharrat said the government will need to pay a consultant to review the application. Bayphase Oil and Gas Consultants has been the preferred reviewer for the past few projects.

The natural resources minister added that it is still to be determined whether the project will be for oil or gas production. ExxonMobil has done extensive appraisal work on the Fangtooth discovery, with the likelihood that this will be the seventh project. However, some gas discovery appraisal drilling has been done, and Vice President Bharrat Jagdeo has said government wants Exxon to move with more enthusiasm on gas projects.

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