Thu | Dec 7, 2023

Guyana extends deadline for licensing bid round

Published:Friday | April 14, 2023 | 1:01 AM
Mia Mottley
Mia Mottley
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GEORGETOWN, Guyana (CMC):

GUYANA ANNOUNCED on Wednesday an extension of its deadline for the 2022 licensing round’s bid submission for 14 oil blocks to July 15 this year.

The Ministry of Natural Resources said industry feedback and the advanced pace of modernising the oil and gas regulatory framework underscore the extended bidding period for the country’s first competitive offshore oil and gas licensing round that was officially launched on December 9 last year.

It said that the ministry continues to receive strong global interest, and the government has benefited from insightful feedback during the consultation periods of the Indicative Terms and Guidelines and the draft model production-sharing agreements, PSAs.

“Concurrently, the government recognises that the new era of oil and gas development, facilitated by this current and future rounds, must be governed by a modern regulatory framework and has been thoroughly moving the finalisation of the model PSA, as promised in this government’s manifesto, and the overhaul and strengthening of the 1986 Petroleum (Exploration and Production) Act,” the ministry said in a statement.

Guyana recently concluded agreements with PGS Exploration (UK) Limited and CGG Data Services to reprocess additional 2D seismic data relevant to the blocks for tender.

The ministry said existing and prospective participants of the licensing round will benefit from the availability of further seismic data, which can be licensed to better inform the bids submitted.

“The government of Guyana remains committed to the successful execution of the Guyana 2022 licensing round and the strengthening of the nation’s fiscal and legal petroleum management frameworks,” it added.

Barbados PM to address regional hoteliers

(Bridgetown, Barbados (CMC):

BARBADOS PRIME Minister Mia Mottley will deliver the feature address at the 41st Caribbean Travel Marketplace that gets under way in Bridgetown on May 9.

“The prime minister is known for her bold calls for the international community to recognise how small-island, tourism-dependent countries of the Caribbean have been impacted by external shocks such as the COVID-19 pandemic and the broader issue of climate change,” the Caribbean Hotel and Tourism Association, CHTA, said, adding that the event will be held under the theme ‘Tourism: The key driver of generational wealth for Caribbean nationals.’

It said that the Caribbean Travel Forum will feature discussions on a number of topics, such as multi-destination marketing; intra-Caribbean travel, with emphasis on air connectivity, sustainability, technology innovation, labour market concerns, taxation and tourism linkages.

Nicola Madden-Greig, the CHTA president, will present the state of the tourism address, noting: “Together we can chart a new path, leading out of recovery towards creating a sustainable industry capable of handling future shocks, while continuing to drive the region’s growth and development.”

She is urging stakeholders to “take the opportunity to participate in the most important discussion and networking opportunity for the future of the tourism industry and the region, while remaining laser-focused on solutions to provide generational wealth for Caribbean nationals”.

The CHTA said that other presenters will include Jamaica’s Minister of Tourism, Edmund Bartlett; the Cayman Islands’ Minister of Tourism and Port, Kenneth Bryan, who is also chairman of the Caribbean Tourism Organization; and Neil Foster, president, Hospitality Financial and Technology Professionals.

The CHTA said that several Caribbean tourism industry professionals will be reconised during the event.