Guyana launches offshore oil and gas bid round

Guyana launches offshore oil and gas bid round

GEORGETOWN, December 13, 2022 – Guyana has launched the nation’s first offshore hydrocarbons bid round with potential resources of more than 25 billion barrels on offer spread across 14 blocks, President Irfaan Ali announced on Friday.

The concessions include 11 shallow-water and three deepwater blocks.


The shallow-water assets are located in the Guyana-Suriname basin adjacent to the prolific Stabroek block in which ExxonMobil has encountered 11 billion boe in recoverable resources.

The deepwater concessions lie northeast of the Canje block and east of the Kaieteur block.

Blocks on offer range between 1,000 square kilometres and 3,000 square kilometres, with an average of 2,000 square kilometres.

The government previously launched a new production sharing agreement in November in preparation for the bid round.

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