In a pivotal development following the government’s announcement of its utilisation of its inaugural tranche of approved spending from oil earnings for the year, the Ministry of Natural Resources has revealed another oil discovery, offshore Guyana, this time at the Bluefin well within Guyana’s Stabroek Block, heralding the commencement of significant prospects for the nation’s oil sector in 2024.
Situated approximately 8.5 kilometers southeast of the Sailfin-1 well, the Bluefin well has unveiled an impressive find, encountering approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone. This landmark discovery was made possible through the drilling efforts of the Stena Drillmax drillship, operating in waters measuring 4,244 feet (1,294 meters) in depth.
The Bluefin discovery joins a series of other notable findings within the prolific Stabroek Block since 2015, underscoring the region’s growing importance in global oil exploration and production. With each discovery, Guyana’s position as a key player in the international energy market continues to solidify.
Emphasizing a steadfast commitment to responsible management of the country’s burgeoning oil and gas resources, the Government of Guyana reaffirms its dedication to ensuring that the benefits of this vital sector are equitably distributed for the betterment of all citizens.
