The impact of the coronavirus (COVID-19) outbreak globally continues to impact the oil and gas industry and could see operations at Guyana’s Stabroek Block slowing down as ExxonMobil grapples with travel restrictions which is affecting the movement of personnel to the country.
“Efforts are being made to limit the disruption of the coronavirus to our operations but given the global nature of our operations, travel restrictions have impacted our ability to move workers into Guyana and could impact our ability to maintain normal operations offshore,” Janelle Persaud, ExxonMobil Guyana Public and Government Affairs Advisor told OilNOW.
She said the company is evaluating staffing levels on its four drilling vessels and the Liza Destiny FPSO to determine next steps.
“As indicated, our priority remains the safety of the individuals working offshore and the protection of the environment,” Persaud said, pointing to several measures the company has put in place in response to the COVID-19 threat.
The outbreak of COVID-19 has had a devastating impact on the oil and gas industry globally resulting in dramatic declines in demand which has seen prices crash.
Darren Woods, Chairman and Chief Executive Officer of Exxon Mobil Corporation said on Monday the company is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decrease.
Woods said that ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment. “We remain focused on being a safe, low-cost operator and creating long-term value for shareholders,” Woods stated.