GOVERNMENT WELCOMES 20TH OFFSHORE OIL DISCOVERY.

Natural Resources Minister Vickram Bharrat this morning announced Guyana’s 20th Offshore Oil Discovery at Longtail-3 within the Stabroek Block.  

The Longtail-3 discovery will add to the previously announced gross discovered recoverable resource for the block, which is currently estimated to be over nine billion oil-equivalent barrels.

The Government anticipates that this new development will further increase the potentials for more floating production storage and offloading vessels.

Additionally, this will increase the estimated recoverable resource given by the operator, Esso Exploration and Production Guyana Limited. 

Minister Bharrat says Government welcomes this new discovery and reinforces its commitment to the sustainable exploration and development of Guyana’s Oil and Gas Resources.