GEORGETOWN: Guyana on Wednesday (Sept 13) received bids for eight of 14 offshore oil and gas exploration blocks offered in its first auction, includin...
Ali, pictured here at Guyana's International Energy Conference in February, said on Wednesday the country will soon present its strategy for natural gas. – ReuterspicGuyana on Wednesday received bids for eight of 14 offshore oil and gas exploration blocks offered in its first auction, including from groups formed by ExxonMobil and TotalEnergies, according to the government and documents seen by Reuters.
The Ministry of Natural Resources confirmed that Exxon, Hess Corp and China's CNOOC had bid as a group, while a government document also listed a separate consortium with TotalEnergies, Qatar Energy and Malaysia's Petroliam Nasional Bhd . The government will evaluate the offers in the coming weeks before negotiating terms and awarding the contracts by Nov 1.
Guyana is currently producing and exporting about 380,000 barrels per day or equivalent of crude and gas, making it Latin America’s seventh-largest producer. The Exxon consortium aims at reaching 1.2 million bpd of output by 2027. Separately, TotalEnergies said on Wednesday it will begin studies for developing a US$9 billion oil and gas project in neighbouring Suriname’s most promising offshore area, adjacent to Exxon’s Guyanese Stabroek block.
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