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Guyana's Ministry of Natural Resources has announced the extension of the Guyana 2022 Licensing Round's bid submission deadline to July 15 2023.
Guyana’s auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras and Chevron, to consider the decade’s hottest oil region, people close to the matter said, according to Reuters. Guyana launched its First Licensing Round for offshore oil and gas blocks on December 9 2022. Bids are to be submitted on 14th April 2023, and contract awards are expected by 31st May 2023.
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Not all countries use licensing rounds; some use direct negotiation to approve exploration and production rights. It’s time for more African oil and gas-producing states to choose this route.
For Africa’s Oil- and Gas-Producing Countries, Negotiating the Current Environment May Require…Negotiation While the details vary by country, the licensing round process has, in general, become too prone to delays and uncertainty By NJ Ayuk, Executive Chairman, African Energy Chamber In late 2019, as the African oil and gas industry was looking to the future…