Guyana’s first competitive offshore licensing round affected one component of its investment attractiveness score, but the country remains among the Atlantic Margin’s stronger performers, according to Irena Agalliu, Global Head of Energy and Climate Policy Consulting at S&P Global Energy.
Agalliu made the remarks during a presentation on regulatory developments and above-ground issues for Suriname at an S&P event as part of the Suriname Energy, Oil and Gas Summit (SEOGS) 2026.
S&P compared countries across the Atlantic Margin using four indicators: expeditiousness of contract, sanctity of contract, regulatory burden, and government take. Suriname ranked highest overall, followed by Trinidad and Tobago, Argentina, Brazil, and Guyana. The slide noted that Suriname’s score reflected the government’s focus on attracting investors and fostering exploration.
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Responding to a question from OilNOW on Guyana’s position, Agalliu explained that the country performed strongly across most metrics but lost points on the speed of contracting.
“Guyana has [a] great score compared to other jurisdictions, but it was hurt by its lack of expeditiousness on contracts. The licensing round took two years to close,” Agalliu said. “That is the only metric. The other [metrics] performed as well, or just as well.”
Guyana launched its first competitive offshore licensing round in December 2022, offering 14 blocks. Bids were opened in September 2023, with offers received for eight blocks. Since then, two production sharing agreements have been signed, covering Block S4, awarded to a consortium comprising TotalEnergies, QatarEnergy and PETRONAS, and Block S7, awarded to Cybele Energy.
The S&P slide highlighted Suriname’s advantage in that category. According to the presentation, Staatsolie has historically taken four to six months between the close of tender processes and the execution of exploration and production agreements. The analysis also cited the sanctity of contracts and expectations of quick regulatory approvals as factors supporting Suriname’s attractiveness to investors.
Agalliu’s broader presentation placed Guyana among the leading oil and gas jurisdictions in the Caribbean. She identified Guyana, Suriname, and Trinidad and Tobago as low-risk countries with significant resource potential and stable political environments.
She also pointed to Guyana’s pace of development, noting that the country has expanded production rapidly since first oil in 2019 and is expected to reach about 1.7 million barrels per day by 2035.
