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Guyana remains optimistic in its quest to find oil – 14th MAy 2013

Oil_platform_in_the_North_Sea222-610x300The Government today formalized a new agreement for Petroleum Prospecting Offshore in the country with Spain’s Repsol Exploration  South America.

The new agreement is an extension of a previous prospecting Licence which had expired earlier in the year.  The last licence was for the Georgetown Block offshore Guyana where the Jaguar #1 was recently drilled.

According to Repsol Director Joseba Murillas his company remains committed to the finding and the developing of a petroleum industry in Guyana.

Minister of Natural Resources Robert Persaud said his Government appreciates the presence of Repsol in Georgetown and their commitment to Guyana in fulfilling the country’s dream of becoming an oil and gas producing nation.

Repsol was the operator for the consortium of companies which included Tullow Guyana B.V. and CGX Resources Inc. and has been present in Guyana  since  1997.

The company  has committed to contributing to education, transfer of technology and the building of capacity as Guyana develops apetroleum industry.

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