The Ministry of Natural Resources wishes to address recent articles where misinformation was raised in the Kaieteur News concerning certain aspects related to the Guyana 2022 Bid Round.
Key points for clarification:
- In keeping with the recently repealed Petroleum Exploration and Production Act 1986, the notice for tender was issued in the Official Gazette dated December 9, 2022. This notice invited interested parties to competitively participate in the bidding round through paid access to a virtual data room. Importantly, this notice included the coordinates of the area for which interested parties could submit tenders.
- The Petroleum Activities Act, Act 17 of 2023, (PAA 2023) came into force on the 1st of September of 2023, which continued the 2022 Bid Round. Additionally, updated bid round guidelines were issued via notice dated 11 September 2023.
- On the conclusion of the bid round, and once the bids are evaluated, the most substantially responsive bidder(s) for a specific block would then be invited to make an application for the grant of a petroleum exploration license for that block, in keeping with the established legal framework under the PAA 2023.
- These applications will be required to be gazetted in keeping with the PAA 2023.
The Ministry of Natural Resources is fully compliant with all the applicable laws of Guyana regarding the Bid Round.
