Vice President, Bharrat Jagdeo on Thursday revealed that the evaluation of the bids received for the remaining oil blocks offshore Guyana is expected to wrap up by next week.
Following its launch in December 2022, the bidding round closed off in September with six companies bidding on eight of the 14 remaining blocks offshore Guyana that were up for grabs. In total, there were 14 offers made on those blocks.
Last month, the government said the evaluation of those bids would finish in early October with the aim of concluding the agreements before the end of the year.
However, during his press conference on Thursday, Vice President Bharrat Jagdeo disclosed that the evaluation could be wrapped up as early as next week.
Of the 14 blocks in the auction, three were for deep-sea areas and the other 11 for shallow areas. Offers were received on 2 deep-sea blocks and six shallow-area blocks.
Among the bidders are ExxonMobil; SISPRO INC (Guyana); Total Energies EP Guyana BV; Qatar Energy International E&P LLC; Petronas E&P Overseas Ventures SDN BHD (Malaysia); Delcorp Inc Guyana and Watad Energy and Arabian Drillers of Saudi Arabia; Liberty Petroleum Corporation of the US and Ghana-based Cybele Energy Limited; International Group Investment Inc and Montego Energy SA (London).
Vice President Jagdeo as well as President Dr Irfaan Ali have both expressed satisfaction with the results of the bidding round, noting that it is in keeping with the government’s commitment to a public and transparent process in awarding the remaining blocks offshore Guyana.
