Government yesterday announced that it has issued a production licence to ExxonMobil for the Liza Field in the Stabroek Block saying that while quantifying oil in the well is not yet completed, it is estimated that there is as much as two billion barrels.
“I wish to report that government has taken the decision to issue a production licence,” Minister of Natural Resources, Raphael Trotman told the National Assembly last evening during his presentation on the Petroleum Commission of Guyana Bill, which was read for a second time yesterday.
“It is believed Mr Speaker that the estimable barrels of oil in the Stabroek Block maintained by Exxon may be equal to as much as two billion barrels of oil,” he added.
Trotman said that a decision was taken to send the bill
