Dennison said the company has also submitted its general production plan alongside its application for a production permit. The firm has so far drilled five wells and is currently completing work on a sixth. Only one has come up dry so far.
“I can confirm that they have applied for the permit,” said Dennison, who indicated it would allow operations by late 2019.
Exxon Mobil announced on March 1 that “Guyana startup is expected by 2020, less than five years after the initial discovery well – a rare occurrence in the industry in terms of development time.”
Guyana, which relies heavily on products like gold, rice sugar, bauxite and timber, is scrambling to prepare itself for oil production. Several other companies, including Spanish-owned Repsol and Mid Atlantic Oil and Gas, are also exploring Guyanese concessions near Exxon’s Stabroek Bloc.
Resources Minister Raphael Trotman has said that government is planning to contract international firms to help it in negotiations with Exxon Mobil because the country has no expertise in this area. He did not identify any of the firms.
Guyana’s parliament is planning to update legislation to cover issues including oil production and potential spills.
Authorities have already sent a number of professionals overseas, many to Spanish schools, to qualify as petroleum attorneys and engineers.