Guyana is preparing to launch its first 3D multi-client seismic survey since 2008, a move officials say will shape future licensing rounds and strengthen the country’s position as a competitive exploration destination.
The update was delivered by Bobby Gossai, Senior Petroleum Advisor at the Ministry of Natural Resources, during a signing ceremony for the shallow-water S7 Block. He said the seismic initiative has been under development for two years and is now in final negotiations.
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Gossai explained that the government began designing the program in 2022 to support competitive bidding for offshore acreage. Work intensified over the past 12 months as companies submitted proposals, allowing the state to refine a model that balances investor appeal with national benefits.
He said the new seismic project will be a full 3D survey covering multiple offshore blocks. It will operate on a multi-client basis, allowing the survey companies to work with licence holders and the government to acquire, process, market and resell the data.
The model ensures Guyana earns revenue directly from the sale of seismic data. “The companies that will be doing the survey will also be sharing the profit with the government of Guyana when that data is available and when that data is sold,” Gossai said.
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According to him, the seismic firms will have exclusive marketing rights for five to eight years, giving them time to recover costs and secure returns. The arrangement requires no financial outlay from the state. “This will be done at no cost to the government…but we will be earning simply because it is our exclusive economic zone,” he stated.
Gossai said the survey results will guide future acreage offerings. The processed data will help operators identify prospective areas and inform decisions on the next competitive bid round.
He added that the initiative forms part of the government’s drive to keep Guyana attractive for exploration, noting that the updated Production Sharing Agreement (PSA) and fiscal terms were designed with global benchmarks in mind.
Gossai added that the government is positioning the offshore sector to remain viable through oil price cycles. Clear seismic information, he said, will support long-term investment, strengthen local content outcomes and help ensure exploration “moves in the right direction” for both investors and the country.
Negotiations with seismic companies are ongoing, with formal announcements expected in the coming weeks.
