Exploration for oil onshore is set to continue this year as recent surveys on samples excavated from some prospective sites show positive trends.
However, before actual drilling is done, there would be need for seismic studies to evaluate the potential of the prospective sites, Commissioner of the Guyana Geology and Mines Commission (GGMC), Robeson Benn, told reporters on Wednesday.
Benn, responding to queries on the performance of the mining sector during 2003, said that CGX in conjunction with ON Energy had recently concluded a comprehensive survey where some 9,000 soil samples were recovered. These have been sent overseas for analysis which will determine where further work would be undertaken.
The GGMC will continue to aid the sector through the provision of data.
Offshore exploration has been curtailed following Suriname's eviction of a CGX rig from Guyana's waters. Benn said that the issues which caused the curtailing of those drilling operations would have to be settled before any attempts are made to undertake similar operations.
According to Benn, most of the best targets reside within the areas which are currently under dispute or those which overlap these. It is for this reason that companies willing to invest in oil exploration have decided not to drill in offshore targets.