The TotalEnergies consortium, which includes Qatar Energy and Petronas, is the only group that has so far been greenlighted by Guyana for a block off the country’s coast.
Guyana Vice President Bharrat Jagdeo said some of the other winners of the country’s first offshore oil auction are seeking out new partners before they can sign contracts with the government.
“Some are still looking for partners and operators because, the original submissions, they couldn’t conclude those,” the official said during a Thursday press conference in Georgetown.
Jagdeo did not name the groups that were not able to conclude their partnerships.
The winners of the first licensing round are as follows:
S4 – TotalEnergies, Qatar Energy, and Petronas
S3 – Sispro Inc.
S5 – International Group Investment Inc. and Montego Energy
S7 – Liberty Petroleum Corporation and Cybele Energy
S8 – ExxonMobil, Hess, and CNOOC
S10 – International Group Investment Inc. and Montego Energy
D1 – Delcorp Inc., Watad Energy and Arabian Drillers
D2 – Sispro Inc.
Of this group, Jagdeo explained that the winners of Block S4, a TotalEnergies consortium, have moved past the stage of being approved by the Cabinet of Ministers. He did not state when this group’s contract would be signed. No other award has moved past this stage.
The auction, the first of its kind for Guyana, is set to rake in at least US$100 million in signature bonuses and more than US$1 billion in work commitments.
