Guyana receives eight bids for offshore exploration following recent oil and gas boom

July 07, 2024

(WO) – According to Upstream Online, the Guyanese government has received eight bids from international contractors for an offshore 3D seismic campaign following massive oil and gas discoveries in the country’s prolific waters.

ExxonMobil's Liza 2 FPSO offshore Guyana

Georgetown aims to acquire 3D seismic data to aid in the exploration and development of oil and gas resources in the Guyana-Suriname basin. This data will also be used for future bidding and licensing rounds.

Vice President Bharrat Jagdeo mentioned that the government is currently running a pre-qualification process. Afterward, companies will be invited to submit commercial offers. Jagdeo hopes that 3D seismic studies will be available for all unallocated areas.

In the 2023 competitive bid round, eight out of 14 offshore exploration blocks received bids, with contracts awarded to companies like ExxonMobil and TotalEnergies.

This story was originally reported by Upstream Online.

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