Tullow Oil set to get exploration license in Guyana

The Associated Press

Tullow Oil PLC will be awarded an exploration license near an offshore basin where Exxon Mobil found large quantities of oil and gas in May.

GEORGETOWN, Guyana (AP) — Guyana's Government Information Agency says British petroleum giant Tullow Oil PLC will be awarded an exploration license near an offshore basin where Exxon Mobil found large quantities of oil and gas in May.

Firm officials met in the past week with Guyanese President David Granger and other government leaders to discuss how to develop the country's fledgling petroleum industry. Officials said Saturday that Tullow will partner with a smaller firm they did not identify for the exploratory work once the license is approved in the coming weeks.

Tullow will explore an area near concessions being developed by Exxon and Repsol of Spain, officials said. In 2012, safety and environmental concerns forced Tullow to abandon an offshore well it was developing with Repsol and CGX Energy of Canada.

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