Despite its two oil finds to date, the United Kingdom-headquartered Tullow Oil says it has not yet determined if the discoveries are in commercial quantities and wants Guyana’s expectations of it to be tempered until additional exploration and data analysis.
It also cannot make commitments on local content since the first two phases are not labour intensive.
“I should stress that they are great results but we are still at the beginning of our exploration campaign. I think it is important for us to be clear and I want to manage the expectation of Guyanese as well to say …we are still at the beginning of the process…we haven’t decided what to do yet,” Tullow’s Head of Communications, George Cazenove told the Sunday Stabroek in an interview last week. The second find for the company in less than six weeks was announced in a statement from the Ministry of the Presidency last month. Tullow’s first discovery, at the Jethro-1 was made in August and the Joe-1 last month.
