Halliburton has submitted a US$1.88 million bid to the National Procurement and Tender Administration Board (NPTAB) of Guyana, aiming to secure a contract for data management services for the country’s oil and gas exploration and production operations. The company was the sole technically compliant bidder for the contract, which forms a critical step toward establishing a local petroleum data repository.
Guyana’s Minister of Natural Resources, Vickram Bharrat, has said the country currently stores its oil sector data overseas, specifically with Houston-based companies. This situation places Guyana at a disadvantage, the minister explained during a parliamentary sitting earlier this year.
The government therefore placed an allocation in its 2024 budget to hire a consultant.
The creation of a local data repository would enable Guyana to store and manage its petroleum information within the country, providing greater autonomy and control over the valuable data. Bharrat explained that under the current arrangement, when companies purchase data sets for purposes like offshore bid rounds, Guyana receives 50% of the proceeds. However, establishing its own data center would allow the government to maximize revenue from such sales.
In its 2024 mid-year report, the government outlined its plans to finalize arrangements for the establishment of the petroleum data repository by the end of the year. This will allow for the consolidation of historical and current data into a central location, ensuring improved management of Guyana’s rapidly expanding oil and gas sector, the government said.
The timing of Halliburton’s bid coincides with major advancements in Guyana’s oil and gas sector. ExxonMobil, which has discovered approximately 11.6 billion oil-equivalent barrels offshore, is currently producing more than 600,000 barrels of oil per day (b/d), a figure projected to rise to 1.3 million b/d 2027. Additionally, the government is set to finalize the awarding of offshore blocks from its first offshore auction, heralding a new phase of studies and exploration drilling activity.
