Oil revenue to flow from day one

Guyana will receive revenue from the first day of oil production, ExxonMobil’s Upstream Operations Manager Doug McGehee said on Thursday night.

McGehee was speaking at Georgetown Chamber of Commerce and Industry (GCCI) 2017 Business Magazine launch, which was held at the Marriott Hotel.

Before a gathering of more than 100 persons, McGehee provided a recap of everything the company has done since 2015. He recalled the exploration of Liza 1, Liza 2, Liza 3, Payara 1, Payara 2, Snook and Skip Jack wells. Collectively, he said, the reservoirs of all together have between 2.25 billion and 2.75 billion barrels of oil and when production starts, the infrastructure will be able to output some 100,000 to 120,000 barrels per day…..