By: Inspenet, Dec 13, 2022
The Guyana government has published the first round of tenders to develop open water oil fields. Guyanese President Irfaan Ali said they expect to award 11 shallow-water mining blocks and another three deep- and ultra-deepwater blocks by May 31, 2023.
The winning oil companies will pay a reserve of 20 million for the right to exploit deposits in deep waters, and 10 million for those located in shallow waters.
“What we are looking for is to obtain the best possible result for Guyana, given the lessons we have learned,” said the president, referring to ExxonMobil’s payment of an amount of 18 million dollars in 2016 for the prolific Stabroek block, which has 30 discoveries. to date, with an estimated 11 billion barrels of oil equivalent.
Those interested in participating in the adjudication process will pay a fee of $20,000 to access the specifications. Offers will be accepted until April 14, 2023.
Ali explained that in this bidding round, companies will not be able to retain the blocks for a long time without carrying out drilling and seismic work. “If the bidders do not comply with their obligations, the assignment process -in which they will have to return the block to the Government- is reinforced and streamlined,” he explained.
Photo: ShutterStock
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