The Irfaan Ali-led administration has fast-tracked oil development in Guyana, and now that the government is aggressively pushing for natural gas developments, an ExxonMobil Executive says the company is ready to match that pace.
“When the government advances permitting, approvals, and market frameworks, we will advance engineering, exceution and investment in lockstep. When government accelerates, we accelerate.
“Our message is simple: We are ready, and we will match the pace of our partners,” ExxonMobil Upstream Company and Vice President of ExxonMobil Corporation, Dan Ammann said at Guyana’s Energy Conference on Monday.
Guyana has become a global oil hotspot with more than an estimated 11 billion barrels of oil equivalent resources in the giant Stabroek Block offshore. Though several oil projects are unfolding, recent appraisal work has shown that there are substantial natural gas resources too. Already, about 50 million cubic feet per day (mcf/d) of gas will be supplied to the mega energy project at Wales, West Bank Demerara, which will then generate power.
The Ali-led administration has been aggressively pushing this project, as it will provide cheaper, cleaner, and more reliable energy to Guyana— remedying some of the issues the country has long been beset by. Already, though, the President is keen about a second gas project in the ancient county of Berbice. He wants to partner with neighbouring Suriname on this venture.
For ExxonMobil, the interest and commitment are there.
“We are committed to developing Guyana’s gas and maximising its impact and value for the country. And we are committed to moving as fast as the Government of Guyana and doing what it takes to monetise the resources as rapidly, safely, and smartly as possible,” Ammann said.
Though he said gas developments are more complex—requiring different infrastructure, more players, and new permits— the Exxon Executive confirmed that the company is ready to move ahead too. And with the combination of Guyana’s oil and new gas developments, he believes the country can satisfy its energy demand while serving the wider Caribbean.
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