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A vessel designated to transport crude oil traverses the waters offshore Guyana (File photo)

Guyana seeking Canadian help in reviewing oil project

A vessel designated to transport crude oil traverses the waters offshore Guyana (File photo)

The Guyana Government says it has asked Canada for assistance in reviewing the Payara Field Development Plan (FDP) before granting approval to the US oil giant, ExxonMobil.

“We are in the process of engaging an international expert to do that review on the work that has been done so far,” President Dr irfaan Ali said, adding that Canada had been asked to assist with “sourcing someone” who would be paid with funds set aside for technical assistance.

President of Guyana Dr Irfaan Ali (Photo: Kaieteur News)

“So we are in the process of engaging an international expert to do that review of the work done so far,” President Ali said, adding that it is in accordance with the ruling People’s Progressive Party/Civic (PPP/C) campaign promise to review certain aspects of the petroleum industry.

“We’ve asked for this review and we have to await the review,” he added.

We are in the process of engaging an international expert to do that review on the work that has been done so far.”

— President of the Cooperative Republic of Guyana Dr irfaan Ali

“Well we haven’t identified a person, what we have to do first of all is secure financing, see where financing is, there is a lot of technical assistance in the sector, we’ve approached the Canadian High Commission for example for help in relation to sourcing someone, getting someone, so that is where we are,” President Ali said.

ExxonMobil submitted the FDP in September 2019 following which the former David Granger Administration embarked on a review with approval pending since December 2019.

ExxonMobil has publicly called for the long-awaited approval of the Payara field development plan this month to allow the consortium under the umbrella of Esso Exploration and Production Guyana Limited to make its foreign direct investment next month.

(Photo: businessinsider.com)

Payara is ExxonMobil’s second oil discovery in the Stabroek Block. The Payara- 1 well was drilled in a new reservoir, encountering more than 95 feet (29 metres) of high-quality, oil-bearing sandstone reservoirs. It was safely drilled to 18,080 feet (5,512 metres) in 6,660 feet (2,030 metres) of water.

— CMC