How soon will they find black gold? I hope they does before 2016.  

Repsol set to begin high-resolution seismic surveys with state-of-the-art vessel - as the quest for oil in Guyana continues 

A high-level delegation today toured a state-of-the-art vessel, the Polarcus Asima which has been enlisted by Repsol to undertake seismic two dimensional (2D) and three dimensional (3D) surveys in the eastern Guyana Offshore – Kanuku Block.

Minister of Natural Resources and the Environment Robert

Persaud shares a light moment with officials onboard the

Polarcus Asima, a state-of- the-art vessel enlisted by

Repsol to undertake 2D and 3D surveys

 

Minister of Natural Resources and the Environment, Robert  Persaud, along with Deputy  Commissioner of the Guyana Geology and Mines Commission, Newell Dennison and Giancarlo Ariza, Guyana Country Manager, Repsol Exploracion S.A other major players were briefed on the technical capabilities of the vessel.

The Guyana Government and Repsol, in May of this year, signed the agreement for petroleum exploration in the Kanuku Block off the Berbice River by 2016.

Minister of Natural Resources and the Environment Robert

Persaud and Deputy Commissioner of the Guyana Geology

and Mines Commission, Newell Dennison listen keenly to an

official speak about the purposes of the equipment onboard

the vessel, Polarcus Asima

 

In December 2011, Repsol began offshore drilling of the Jaguar-1 well in Guyana, but operations were abandoned after it encountered very high pressures at intervals above the depth targeted. Despite that, the results were said to be heartening, with the company’s Director of Exploration in Latin America, Joseba Murillas saying that “the oil recovered from Jaguar-1 was the first significant amounts ever recovered from offshore Guyana wells”.

Meanwhile, Minister Persaud during the tour today welcomed the early research and scientific work by Repsol, which will take Guyana and the company closer in its quest to drilling for oil offshore Guyana.

The Natural Resources and the Environment Minister stated that a key component of the exploration activities is early action, and he also took the opportunity to urge Repsol to maintain its urgency to realise the potential of a commercial discovery of oil.

The Polarcus Asima enlisted by Repsol to undertake 2D and 3D surveys in the Kunuku Block

 

He added that the company’s commitment to expend US$ 35 M for the current survey and the anticipated drilling for oil shows a great deal of confidence in Guyana’s hydrocarbon resources offshore.

According to Allan Kean, Manager of Exploration, Repsol, the state-of-the-art vessel will conduct refined seismic surveys over the next 90 days which will be analysed and fast tracked for presentation to the company.

Minister of Natural Resources and the Environment Robert

Persaud gets an explanation on a piece of equipment aboard

the Polarcus Asima

He pointed out that the 2D surveys will last for 10 days, while 3D surveys will take a maximum of two-and-a-half months. Kean added that the information will allow the exploration team to make recommendations to Repsol’s management on the way forward.

Meanwhile, he indicated that Repsol will be ready to drill as soon as possible since the company doesn’t make money until oil is found.

The man behind the smuggling of gold USD 15 is now looking for oil.

Guyana has economic potentials only realized by the PPP government. Even as Repsol had some disappointments, they resume work to finding oil in commercial quantity. There are two thing I want to see before I depart this earth is finding oil and the completion of the Hydro- Electricity. Everything, thereafter will fall into place. God bless the PPP for holding Guyana's dreams closest to their heart.

D_G, do you agree?

Agreed Cobra.

1. Construction of the hydroelectric power project will be a reality.

2. Oil is in Guyana's territory, but because of long past historical issues, its exploration and development took place in other countries. Times have changed - or changing rapidly now - and oil will become another resource-developing item within Guyana.

These resources mean NOTHING if the revenues from them will be wasted like the Skeldon factory, the Marriott and if they are STOLEN. 

I heard the same cry when Providence Stadium and Buddy's hotel was building. Somehow, the structures were completed and conducting business. Now, its time to pick on Marriott. Running a country is like running a business. You will get failure along with successes. We can't sit and cry over one failure, we have to move forward. If you want to talk failure, we can go down that street starting with the PNC, now APNU. 

All ventures have successes and issues which can be improved; and those in Guyana is no different from other countries.

Any private or public organization claiming to have no failures has not yet really ventured into the "playing field".

A classic excuse for the thieving.