Guyana is moving to contract a large-scale 3D marine seismic survey covering deepwater offshore blocks that were left unawarded or unresolved in the country’s first oil and gas auction, signaling preparations to re-offer the acreage.
The Environmental Protection Agency has published a project summary showing that Latitude Energy Inc. has applied for environmental approval to acquire and process 3D towed streamer seismic data over Blocks D1, D2 and D3 in the northeastern section of Guyana’s offshore maritime zone.
The summary is expected to start in Q4 2025, and will take 5.5 months, the summary said. The proposed survey would cover about 11,468 square kilometres, with a wider vessel manoeuvring area of roughly 16,860 square kilometres, according to the summary.
Latitude Energy said the purpose of the project is to generate high-quality geophysical and geological images of the subsurface to support future exploration activity.
The government offered the three deepwater blocks during its first offshore auction, but only one block from the round attracted bid interest. Block D2 was provisionally awarded to Guyanese company Sispro Inc., though the government has not formally completed that award.
Authorities have not stated whether D2 will be re-offered in a subsequent auction. However, the inclusion of the block in a state-requested multi-client seismic programme suggests the acreage is being prepared for remarketing.
Latitude Energy said it is a Guyanese company serving the local geophysical market and combines international oil industry expertise from UK-based Future Energy Consultants with the local technology, services and networks of Latitude Geospatial in Guyana.
The company said it plans to partner with Shearwater Geoservices to acquire the data, using the seismic vessel SW Empress or a similar vessel.
The capital investment for the project is estimated at about US$81 million, covering mobilization and demobilization, seismic acquisition, data processing and interpretation, and other costs associated with the multi-client surveys requested by the Ministry of Natural Resources.
Guyana, the world’s largest per capita oil producer, focused its first licensing round on balancing investor interest with tighter fiscal and other terms, though the round did not benefit from seismic. Government has said it wants to pursue a second round, but not without offering seismic data to prospective bidders.
All current production comes from the Stabroek Block, operated by ExxonMobil, in partnership with Hess and CNOOC.
