Guyana is better off with more operators and countries involved in its oil fields, British High Commissioner to Guyana Gregory Quinn has said in wake of UK-based Tullow Oil’s recent offshore oil discovery.
Tullow last week announced the discovery of oil in commercial quantities in its Orinduik Block, offshore Guyana, which represents the first commercial find outside of the Stabroek Block, where ExxonMobil has made 13 major finds since May 2015. Its first exploration well, Jethro-1, is estimated to hold more than 100 million recoverable barrels of oil.
Speaking with reporters after a press conference about a city chamber trade mission to Aberdeen, Quinn yesterday said that from his perspective, the Tullow find is good for Guyana for two reasons—it demonstrates that there is oil outside of the Stabroek Block, which shows that Guyana’s potential is far bigger than that block; and it brings in a whole new set of companies, countries and operators. “…And the more operators and countries and companies you have involved in the oilfields, the better,” Quinn said.