The Government of Guyana (GoG) has approved one bid to date from its maiden oil blocks auction. Block S4, a shallow water portion, has been awarded to TotalEnergies EP Guyana B.V. in consortium with Qatar Energy International E&P LLC and Petronas E&P Overseas SDN BHD.
Vice President Bharrat Jagdeo's announcement regarding the review of procurement systems across Guyana and the promise of strict measures against those found guilty of infractions has raised eyebrows. The timing and nature of this announcement, particularly in light of recent controversies surrounding the award of pumping station contracts, warrants a thorough examination.
The Government of Guyana (GoG) is awaiting a full report from its technical staff on whether the ramped-up production of oil in the Stabroek Block by ExxonMobil Guyana Limited (EMGL) constitutes a breach of the insurance and US$2B oil spill guarantee lodged by the Co-Venturers.