Guyana’s coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras and Chevron, to consider the decade’s hottest oil region, people close to the matter said, according to Reuters.
Guyana launched its First Licensing Round for offshore oil and gas exploration and production blocks on December 9 2022. Bids are to be submitted on 14th April 2023, and contract awards are expected by 31st May 2023.
The South American country is offering 14 blocks for tender in the shallow and deepwater areas of offshore Guyana, in a move to speed economic development and reduce an Exxon Mobil-led consortium’s dominance of its oil sector.
See also, Guyana launches First Licensing Round for offshore oil and gas exploration and production (with map)
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Source: Reuters /energy-pedia
