ExxonMobil Guyana Country Manager, Rod Henson says the company would like to look back 10 years from now and see that its presence would have served to help the South American country of 750,000 people.
Guyana will enter the league of oil producing nations in 2020 thanks to a consortium of companies led by the US oil major which first struck oil off the country’s coast in 2015. Partnering with Hess and CNOOC Nexen, ExxonMobil affiliate Esso Exploration and Production Guyana Limited (ESSO) have so far discovered upwards of 2.75 billion barrels of oil in the Stabroek Block. The Liza Phase 1 development will get underway in 2020, targeting approximately 450 million barrels of oil at an initial projected rate of 120,000 bpd.
The revenue and opportunities that come with a booming oil industry is expected to play a major role in transforming Guyana but this ultimately depends on how well resources are managed.
Mr. Henson told OilNOW in a recent interview the company intends to “do the right thing” in keeping with international standards and best practices, as far as its operation in the country goes.
“I personally have high hopes that it is going to be beneficial. I know we want it to be. The nice thing about here is that I think everybody wants that. We certainly want that. We want this project; ultimately 10 years from now to look back and say that we helped Guyana,” the Country Manager stated.
He said based on what he has seen so far, the government and all the key interest groups seem to also want the oil and gas industry to benefit the country.
“The nice thing is; I think the government wants that – they want this to be beneficial, I think the opposition wants that – I think they want it to be beneficial, I think civil society wants that. So we are all pulling in the same direction,” he commented.
He was quick to point out however, that some degree of patience is required since the road to oil production and getting it right is a process that will take some time.
“Be patient. Things are moving. We’ve come a long way in a couple of years. We’ve got a couple more years to first oil. Guyana gets revenue from day one…and so; be patient, let’s be positive and work together and make this successful,” stated Mr. Henson.
The company he said welcomes the job of government and regulators and will be looking to work closely with them going forward. This process, he pointed out, has already begun with agencies such as the Guyana Geology and Mines Commission (GGMC) and the Environmental Protection Agency (EPA) conducting inspections and audits offshore.
With five oil discoveries made so far and more exploration ongoing, ExxonMobil officials have already signaled multiple phases of production down the road. That coupled with other yet-to-be-explored prospects point to a bright future for the once little-known South American nation.