Preliminary findings from the Snoek-1 well, ExxonMobil’s latest exploration in the Stabroek Block offshore Guyana, are favourable and the company is expected to make a formal announcement within the coming weeks, sources say.
Natural Resource Minister Raphael Trotman yesterday told Cabinet that the US oil giant “could make another significant announcement on its work in Guyana Economic Zone (EEZ) within the next two weeks,” according to a Ministry of the Presidency statement.
Trotman’s statement to Cabinet was made following a presentation by the newly appointed Presiden-tial Advisor on Petroleum, Dr Jan Mangal, on the future of the oil and gas sector and the actions that must be taken to prepare Guyana to manage the sector.
