Guyana’s Environmental Protection Agency (EPA) has granted approval for a 35-well exploration and appraisal campaign at the ExxonMobil-operated Stabroek Block.
Approval was granted after the Environmental Assessment Board reviewed and declared the Environmental Impact Statement and Environmental Impact Assessment submitted by the operator, and found them acceptable, in accordance with the Environmental Protection Act.
“The EPA is satisfied that the project can be conducted in accordance with good environmental practices, and in a manner that avoids, prevents and minimises any adverse effects which could result from the activity,” the regulator said.
This will be the largest single exploration campaign pursued by any explorer offshore Guyana. The wells are expected to be drilled over the course of several years, beginning in 2023 and concluding in 2027. The Stabroek Block has so far delivered 11 billion oil-equivalent barrels.
The Exxon-led consortium believes there is multi-billion-barrel potential remaining.
Exxon has a 45% operating stake, with co-venturers Hess (30%) and CNOOC (25%).
