Prospects for an aggressive stepping up of the oil search in the Guyana/Suriname basin in a bid to further enhance the world-class oil discoveries made in that region in recent years now appear to loom large after the London-based multinational oil company, Tullow Oil, announced this week that it will be following what a February 1 Caribbean Business Report describes as “a year of relative inactivity” with the resumption of drilling activity in the basin in the region this year “in an area where it has already recorded one discovery of “high-quality crude offshore Guyana” with imminent commencement of “drilling of Goliathberg-Voltzberg North (GVN-1) exploration well in Block 47 in Suriname.”
The report says that “work also continues on developing the prospect inventory on the Orinduik and Kanuku, the company’s licences offshore Guyana.”
“Tullow has a busy year ahead as we begin implementing the business plan” the company’s CEO, Rahul Dhir is quoted in the news report as saying though it adds that the company’s modus operandi for project execution will proceed “with a view to reducing its cost and debt while generating positive cash flow and building a strong balance.”
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