Still early days to determine full volume of gas at Stabroek Block – Dr. Bynoe

Must Read

Iranian super tanker ‘horse’ set to violate U.S. sanctions again by shipping Venezuela crude

(Bloomberg) --After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela just last week,...

“Female-owned’ maritime institute prepping hundreds of Guyanese for deepwater operations

MatPal Marine Institute, the only maritime institution in Guyana, is equipping hundreds of Guyanese with internationally recognized...

BHP projects, amendment to Petroleum Tax can be game changers for T&T – Energy Chamber

While oil production in Trinidad and Tobago has been on the decline since the 1980’s, two current...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

As discussions continue in the South American country of Guyana on the prospect of bringing gas to shore, the country’s Department of Energy said while this project could come on stream as early as 2023, the full volume of associated gas which has been found with large quantities of oil, is still to be determined.

Of the more than 8 billion barrels of oil equivalent discovered so far by ExxonMobil at the Stabroek Block, “about 6 billion of those are actually oil and about 2 billion would be gas which then has to be converted with a conversion factor of about 5.8 with regards to gas,” Dr. Mark Bynoe, Director of the Department of Energy told reporters on Monday.

“What I could say however, is that it is still very early days with regards to determining how much gas is actually there,” he said, pointing out that most of the finds have been disclosed based on a single well that has been drilled.

“We all can appreciate that this is very complex, and it also requires a lot more appraisal before one can be able to determine precisely how much is there,” he said.

While the priority, as outlined in the Production Sharing Agreement between Guyana and ExxonMobil is oil recovery, focus is also being placed on piping gas to shore to generate electricity.

The cost of electricity in the South American country is considerably high and has served as a barrier to the growth and expansion of enterprise – particularly those in the manufacturing sector. Officials have been looking at cheaper ways to generate power. This has seen ongoing discussions taking place with the US oil major about the prospect of taking gas to shore.

- Advertisement -

Latest News

Iranian super tanker ‘horse’ set to violate U.S. sanctions again by shipping Venezuela crude

(Bloomberg) --After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela just last week,...

Bidders line up for ExxonMobil’s UK North Sea oil and gas fields

(Bloomberg) -Exxon Mobil’s UK North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the U.S. oil giant...

“Female-owned’ maritime institute prepping hundreds of Guyanese for deepwater operations

MatPal Marine Institute, the only maritime institution in Guyana, is equipping hundreds of Guyanese with internationally recognized and accredited certifications for employment...

BHP projects, amendment to Petroleum Tax can be game changers for T&T – Energy Chamber

While oil production in Trinidad and Tobago has been on the decline since the 1980’s, two current events could potentially change the...

Guyanese recruitment firm hosts session on labour law

Strategic Recruitment Solutions (SRSGY) hosted a two-hour learning session titled Employee Engagement – Guyana Labour Law, on Tuesday, September 22. This session...

More Articles Like This