The Ministry of Natural Resources was informed by ExxonMobil and the Guyana Geology and Mines Commission (GGMC) on August 29, 2016, that the ‘Skip Jack’ well proved not to have commercial quantities of hydrocarbons.
Hoping to hit another jackpot similar to its Liza find, the Company began drilling ‘Skip Jack’ about 40 kilometers south of Liza earlier this year.
“We are continuing to have verification work done and awaiting a full report and more information will be provided then,” the Ministry said in a recent statement.
The company will continue with plans to develop the Liza well with its declared capacity of approximately one billion barrels and also look for other possible targets for drilling, while the Government continues its preparations for the eventual production of oil and gas in the near future by building capacity at the legislative, technical and regulatory levels.
The Company is expecting to begin full oil production by 2020.
