Eco (Atlantic) Oil & Gas, the oil and gas exploration company focused on the offshore Atlantic Margins, has provided an update regarding its offshore position in Guyana.
The Company is pleased to announce that, together with Navitas Petroleum, it is engaged in ongoing, constructive discussions with the Ministry of Natural Resources (MNR), Government of Guyana, regarding the continuation of Eco's appraisal and exploration programme on the Orinduik Block area. While the Orinduik Licence reached the end of its second renewal term on 14 January 2026, the provisions under the Petroleum Act allow the Company to maintain rights to the Jethro-1 and Joe-1 discoveries pending approval of the submitted appraisal programme. To this effect, the MNR and Guyana Geology and Mines Commission are in receipt of the relevant joint submissions from Eco Atlantic and Navitas. Eco Atlantic and Navitas continue to pursue the most efficient and value-accretive path forward that will be acceptable to the Ministry.
Eco and Navitas' appraisal and new exploration work programme discussions are part of a customary regulatory process under the existing legislative framework. This dialogue reflects Eco's long-standing commitment to responsible exploration and potential development in collaboration with the Government of Guyana, and its new framework agreement with Navitas. The Company will update the market as and when appropriate.
Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented: 'We continue to engage constructively with the Government of Guyana and our partners as we work through the next phase of our exploration and appraisal work in the basin. Our focus remains on preserving access to existing discoveries, progressing appraisal activity, and evaluating opportunities to enhance the Block configuration in a manner that is aligned with both shareholders' values and as importantly Guyana's Government national objectives.'
Source: Eco Atlantic
