The Government of Guyana is pleased with the announcement today by ExxonMobil and its partners, Hess Guyana and CNOOC Nexen Petroleum, of an increase in the production estimate for the Stabroek Block to over 4 billion barrels. The previous estimate was 3.2billion barrels.

“Confidence and investor interest in Guyana will continue to grow as a result of this most recent and exciting announcement by ExxonMobil,” Minister of Natural Resources Raphael Trotman said.

The politician assured that the government will take the time to solicit the expertise needed in ensuring that all aspects of this industry well managed.

“We are confident that this government will not take any action to either fritter away or mismanage these revenues. They belong to the people of Guyana and it is the people who must benefit first and foremost,” Minister Trotman added.

The politician also spoke to the Department of Energy, which is imminently being established, to continue the work for the efficient development of the resources on the firm foundation that has already been laid down.

“We have major infrastructural, economic and social transformation projects and programmes which are being developed in consultation with the people of Guyana. We have initiatives such as the paving of the Linden-Lethem trail and the bridging of the Essequibo River which must be pursued as matters of urgent national priorities,” Minister Trotman said.

“What the oil revenues will allow us to do is to fulfill these dreams of the Guyanese people and to ensure that the quality of life for every citizen dramatically improves over a period of a few short years,” Trotman said.


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