ExxonMobil has made its 18th offshore oil discovery at the Redtail-1 exploration well, the government announced this morning.
A statement from Minister of Natural Resources Vickram Bharrat follows:
Fellow Guyanese, as Minister of Natural Resources with responsibility for the Petroleum Sector, it gives me great pleasure to announce Guyana’s 18th Offshore Oil Discovery at the Redtail-1 exploration well. This will add to the estimated recoverable resource of more than 8 billion oil- equivalent barrels on the Stabroek Block.
The Government of Guyana welcomes the Redtail discovery and remains committed to the development of Guyana’s Oil and Gas Resources. This discovery comes in wake of our County’s Budget for the year 2020 and complements the number of progressive measures announced by His Excellency Dr. Irfaan Ali, President of the Co-operative Republic of Guyana and Honourable Vice President Dr. Bharrat Jagdeo. I assure you that the Government will do everything possible to ensure benefits from this and other sectors enhance the lives of all our people.