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.
Opinion: Direct negotiations could be a win-win in 2023 for African oil and gas regarding disappointing licensing rounds worldoil.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from worldoil.com Daily Mail and Mail on Sunday newspapers.