With production hurtling towards 1.2 million barrels per day from a series of major discoveries and new projects in development, Guyana has now opened up bidding for 14 more offshore exploration blocks, with six companies and groups competing. Bidding for the 14 blocks was postponed three times to give prospective bidders additional time to evaluate existing data, as well as to finalize a new Production and Sharing Agreement (PSA).
The government is expected to begin negotiations with bidders next month, after an evaluation process. …Giants Bid On Guyana’s Long-Awaited 14-Block Oil Auction
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