Tuesday, July 5, 2022

Oil major Total looking to pursue renewable energy, other investment opportunities in Guyana

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OilNOW
OilNOW is an online-based Information and Resource Centre

French oil company Total is looking to pursue further investment opportunities in Guyana with special interest in the areas of low carbon and renewable energy.

President and Chief Executive Officer (CEO) Jean-Michel Lavergne, and Oliver Wattez, Guyana Branch General Manager and Country Chair, on Friday held discussions with CEO of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop and staff, at the agency’s Georgetown office.

“Their current and planned areas of interest in partnering with Guyana will be to pursue opportunities in oil and gas and low carbon and renewable energy initiatives,” Dr. Ramsaroop told OilNOW.

Total has a 25% stake in the 1800km2 Orinduik Block which is situated in shallow water (70 – 1,400m) 170km offshore Guyana and is located 11km up-dip from ExxonMobil’s Liza field. The Orinduik block, where two discoveries – Jethro and Joe – have been made, is estimated to hold around 5.1 billion barrels of oil equivalent.

Total also holds 25% stake in the Kanuku block which is adjacent to Orinduik.

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