Gov’t welcomes Chevron to Stabroek Block

-wants it to focus on gas development

President Irfaan Ali yesterday welcomed United States oil major, Chevron Corporation, to Guyana following the company’s win against competitor ExxonMobil over the US$53 billion acquisition of Stabroek Block partner, Hess.

The President stated that government wants the American multinational energy corporation to focus on gas development to fuel this country’s energy sector.

“We welcome Chevron. We have always welcomed Chevron,” Ali told Stabroek News yesterday, as he pointed out that this country can benefit from the company’s advanced technology.

With the ruling coming at a time when the fourth FPSO – One Guyana – is expected to begin production next month, the President posited that while sustainable accelerated development of the oil fields is important,  “gas development is a priority” in ensuring the fruition of government’s plans at Wales, in the first instance, and also in Berbice, as both are integral to the holistic development of the country.

For its part, ExxonMobil stated that while it disagreed with the arbitration ruling of the International Chamber of Commerce, the company welcomes Chevron to the venture.