Eco Atlantic Oil & Gas has indicated that the recent sanctioning of the Hammerhead project by ExxonMobil could pave the way for significant heavy oil development offshore Guyana. The US$6.8 billion seventh phase of the Stabroek block has demonstrated the economic viability of heavy oil extraction, according to Eco Atlantic’s President and CEO, Gil Holzman. In an interview, Holzman emphasized that this development has prompted a reevaluation of the Jethro-1 discovery, which holds an estimated 1 billion barrels of oil, located in the neighboring Orinduik block where Eco Atlantic holds a 100% working interest. The company is now in discussions with the Guyanese government to potentially revisit the non-commercialization notice issued by Tullow, the previous operator of Orinduik. Holzman also noted that the extended farmout process for Orinduik was influenced by the shift in focus from light Cretaceous oil to heavy oil development. Additionally, Eco Atlantic maintains a stake in the Canje block, which borders Stabroek, further solidifying its presence in Guyana’s burgeoning oil sector.