By: Inspenet, November 11, 2022
According to information published by the Nation News channel, Guyana approved an auction of 14 oil blocks from one thousand to three thousand square kilometers each, which was initially scheduled for the end of September.
The delay was due to extensive preparatory work, for which we hired IHS Market as the main consultant, explained the vice president of this South American country, Bharrat Jagdeo.
The Ministry of Natural Resources will publish the new date in due course, he assured, adding that potential bidders will receive the terms “well before” its formal launch.
Eleven of these blocks will be located in the shallow zone and the others in the deep water zone, explained the vice president.
The head of state, Irfaan Ali, announced in the middle of last October that a part will be reserved for associations with other countries, and very soon we will auction some, for which we are analyzing all our strategic partners, he pointed out. He described the United Kingdom as a potential shareholder that would benefit from this agreement, a nation with which, he said, they hope to deepen cooperation in the energy sector.
Guyana, according to official reports at the end of September, obtained almost 500 million dollars in revenue from the oil and gas industry. Analyzes forecast a production of 1.7 million barrels per day between now and 2035 —without taking into account the volumes not yet discovered—.
Source : https://www.prensa-latina.cu/2022/11/08/guyana-aproves-subasta-de-14-petroleros-blocs
Map : Petroleumag.com
Photo: ShutterStock
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