The Department of Public Information (DPI) in a media release stated that more than 230 feet of the high-quality oil-bearing reservoir has been discovered at the Ranger-1 well in the Stabroek block. This latest discovery represents the largest single find to date and adds to the quantities which have been confirmed in the five previous finds.
The release added that the news of an additional find of this magnitude, particularly, at the start of the new year, can be seen as a further blessing and underscores the richness and diversity of Guyana’s natural resources. Managed prudently, these resources will allow for an enormous transformational effect on the lives of every Guyanese in the years ahead,” the release further stated.
This represents the sixth discovery in Guyana since 2015.
The Government in partnership with Esso Exploration and Production Guyana Limited, CNOOC Nexen Petroleum Guyana Limited and Hess Guyana Exploration Limited stated that it is pleased and gratified by the information.
The government added that remains committed to all efforts for the safe and efficient development of the offshore Guyana basin.