Maranco’s Oil Find still not quantified Print E-mail
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Thursday, 02 May 2013 00:00

On Monday, April 29th, Prime Minister, Hon. Dean Barrow announced that Maranco, which struck oil in the Gallon Jug area in north western Belize, has still not been able to quantify the amount of oil that is in the find. PM Barrow stated that there have been problems that have prevented the oil company from completing the exercise. There are two main problems that have the encountered so far the first being that salt water is seeping into the oil well and the company is looking to plug the seepage using concrete.  The second problem Maranco faces is a chemical reaction that has taken place inside the well after acid was injected into it to clean it of drilling mud. That acid has caused a tar-like substance to form in the well preventing any work from proceeding.

According to Maranco's Paul Marriott, a concrete packer will be brought in this week to plug the salt water seepage and the oil in the well will be sent to Panama for testing to acquire a different acid to clean the drilling mud from the well and not produce the tar like substance. PM Barrow noted that he like most Belizeans is exercising patients while the tests on the well are completed to determine if it has commercial value. He said that Marriott has expressed that the well does have commercial value.