A consortium led by ExxonMobil is evaluating the possibility of starting offshore natural marine gas production in Guyana, near the maritime border with Suriname, according to an oil company executive.
Development of strategic plans to extract marine gas
Exxon Mobile, Hess Corp and CNOO are under pressure from the Guyanese government to develop natural gas resources in Guyana. natural gasuntapped in the country, where large oil and gas reserves have been discovered since 2015. Exploration and evaluation to determine the viability of the resource is expected to be completed in early 2025.
Gas production could begin in 2029 or 2030, according to Exxon’s manager in Guyana. The consortium has not yet decided whether its next project in Guyana will focus on natural gas or oil discoveries in the Stabroek block.
Positive interests of the Guyanese government and international companies
Guyana’s vice president noted that the country wants the company to jointly develop a natural gas project and is open to the participation of other international companies. At the same time, this event will make it possible to open the cultural gap between the South American country and new energy proposals that will benefit the nation.
For example, Exxon is considering processing options, ranging from a floating liquefied natural gas (LNG) facility to a Guyanese onshore refining plant, or even offshore platform processing.
Effective collaborations
The amount of gas available will influence the choice of the best processing option. Sometimes, a land-based plant can be more effective than a floating installation or a platform. A nearby case is the country of Trinidad and Tobago, which has expressed interest in collaborating in the development of Guyana’s natural gas, although this option may not be the most economical, Routledge noted.
Natural gas development in Guyana represents a significant opportunity, but choosing the best processing and collaboration strategy will require careful evaluations to ensure long-term efficiency and profitability.
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Source: oedigital.com
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