Guyana’s offshore bid round stirs big interest

Guyana’s offshore bid round stirs big interest

GEORGETOWN, March 8, 2023 – Guyana’s ongoing offshore bid round has attracted the interest of at least 10 companies including Chevron, Shell and Petrobras, Reuters reported on Monday.

Guyana’s Energy Minister Vickram Bharrat has said at least six large international producers had paid for seismic data for the round.

The round placed 14 concessions on offer, including 11 shallow water and three deepwater blocks.

The plays contain more than 25 billion barrels of potential resources.


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.

According to Reuters, the country is attempting to unlock a more competitive market outside of the current dominance of an ExxonMobil-led consortium.

The bid round was launched in December 2022, and winners are expected to be picked in April 2023.

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