Guyana Bid Round: TotalEnergies consortium is sole bidder to receive Cabinet approval to date

Must Read

OilNOW is an online-based Information and Resource Centre

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. 

Vice President of Guyana, Dr. Bharrat Jagdeo

“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.


Partnered Events

Latest News

Guyana implements new policy, boosting advantage for locals in oil sector

Guyanese companies in the oil sector just got a major boost. A new policy now requires that companies evaluating...

More Articles Like This