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Brazilian Geologist Discovers Oil While Drilling an Artesian Well in Guyana
During a drilling operation on a property in Guyana, Brazilian geologist Ygor Sousa made an unusual discovery: oil at just 17 meters of depth. The work initially aimed to drill an artesian well, but soon took an unexpected turn.
“The area is an indigenous region that is hard to access. As soon as we started drilling, we detected the presence of oil, and I made two drillings. The first time, I reached oil quite shallow, finished the work, and started a new drilling approximately 30 meters away from the previous point, obtaining the same result“, he reported.
The area, difficult to access and located in an indigenous region, is connected to the Tacutu basin in the Rupununi region.
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Oil Reserves
Guyana, which has been standing out in the oil industry, may have found yet another location with economic potential.
Since 2015, ExxonMobil and its partners have identified more than 30 reserves in the region, totaling over 11 billion recoverable barrels. The new discovery, still without confirmation of commercial viability, could add another piece to this energy puzzle.
Oil exploration in Guyana began commercially in 2019, with the Liza field, located in the Stabroek block. Currently, the country’s production exceeds 600,000 barrels per day, which has boosted local economic growth.
The Guyanese government is seeking to balance this development with sustainable practices by creating a sovereign fund to manage the resources obtained from oil. This strategy could consolidate Guyana as one of the largest oil producers in Latin America in the coming decades.
Venezuela’s Interest in Guyana
Venezuela is in dispute with Guyana over the Essequibo region, an area rich in oil and minerals. The conflict dates back to the 19th century and gained momentum in 2023 when Venezuelan President Nicolás Maduro organized a referendum on the annexation of the area.
The international community, including Mercosur, the UN, and the International Court of Justice, has advocated for peaceful solutions.
Venezuelan interest has increased with the discoveries of oil off the coast of Guyana. Venezuela claims that Guyana has no right to grant oil concessions in the disputed region.
With information from roraimaemfoco.
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