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Exxon Mobil explores for oil and gas off Guyana
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GEORGETOWN, Guyana - The head of Guyana's state petroleum agency says Exxon Mobil Corp. is going ahead with its search for oil and gas off the South American country's coast.
Newell Dennison has told The Associated Press that Exxon Mobil officials are in the country meeting with President Bharrat Jagdeo and others to discuss exploration efforts off the northeast coast.
Dennison said Friday that Spain's Repsol YPF and Canada-based CBX Energy Inc. have already begun searching for what may be some of the world's largest untapped oil and gas deposits.
He also said Canada-based Groundstar Resources Ltd. plans to invest $12 million in a search for onshore oil and gas near the southwestern border with Brazil.
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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