Spanish oil company Repsol has asked for an additional six months before making a decision on drilling which could see the company searching for oil offshore Berbice in 2017 rather than in 2016 as originally envisioned.
A statement from the Ministry of the Presidency said that Minister of Governance Raphael Trotman yesterday met with Repsol Exploration executives during a courtesy call at his office. The executives, Allan Kean, Atlantic Basins Exploration Manager and Giancarlo Ariza, Guyana Country Manager, used the opportunity to request an extension of six months to continue gathering seismic data on the Kanuku Block, where they are currently conducting exploratory work, the statement said.
“Repsol is currently required to commit to drilling or relinquish exploratory rights by the middle of November, 2015. A six month extension would give them up to May, 2016 to make a decision on drilling just one year before the projected drill date, which will remain at the
