GEORGETOWN, Guyana, March 28, 2018 (CMC) – Natural Resources Minister, Raphael Trotman, has held talks with the Senior Vice-president of the Italy-based oil and gas exploration company that has expressed an interest in carrying out exploration offshore Guyana.
A government statement said Trotman met, on Monday, with Guido Zappala of ENI, considered one of the world’s largest publicly-owned oil and gas companies — known as supermajors.
It said that the company could be the “new kid on the block”, if the David Granger government gives the green light for it to carry out exploration offshore.
ENI operates in 79 countries and is currently the world’s 11thlargest industrial company with a market capitalisation of Euro 68 billion (US$90 billion) as of August 2013.
Trotman said that after the meeting the oil company had, since last year, expressed its interest to the government.
“So, we had a long discussion with them about their practices elsewhere, what they are looking for. And obviously Guyana’s basin has become attractive and they have assured us that they are not worried about the current issue between Guyana and Venezuela. They are prepared to pursue and should there be any cause for concern, they will manage.”
Trotman said ENI, which is partly owned by the Italian government, has an excellent track record, in terms of safety and good environmental practices. The company, he said, has been lending its support to other countries, helping to develop their renewable energy capacity.
“Thirty percent of the shares is owned by the government. So, you actually have a company that is undergirded by the government and is a main driver of the economy of Italy,” he said.
Trotman said that he would be preparing a report to present to President Granger for his consideration.