Guyana eyes changes to PSAs ahead of next bid round

Guyana eyes changes to PSAs ahead of next bid round

GEORGETOWN, February 20, 2024 – The government of Guyana is considering changes to the country’s production-sharing agreements ahead of its second offshore bid round, Reuters reported on Tuesday.

Vice-President Bharrat Jagdeo made the revelation in comments at the Guyana Energy Conference & Supply Chain Expo 2024, which is taking place from Monday-Thursday this week.


The changes in question may not be fiscal, but could focus on modernising regulatory terms, Jagdeo was reported as saying.

Guyana’s first bid round, which ran from December 2022 to September 2023, put 14 offshore blocks on offer. Eight of the blocks received bids, and winners have yet to be announced.

Dates for the second round have not yet been announced, but Jagdeo said earlier this year that it could take place in 2024.

The country’s offshore holds recoverable resources estimated at 11 billion boe.

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