Latest update November 13th, 2024 1:00 AM
Oct 04, 2024 News
Kaieteur News – Four firms including a Guyanese company have been shortlisted to bid for the contract to conduct 3D seismic surveys offshore Guyana.
The Government of Guyana (GoG) through the Ministry of Natural Resources had put out a tender seeking a reputable and experienced firm to conduct 3D multi-client seismic surveys offshore Guyana.
On June 27, 2024, eight companies had expressed their interest in conducting the surveys. However, during the opening of tenders on Thursday at the National Procurement and Tender Administration Board (NPTAB) office it was revealed that only four out of the eight bidders were shortlisted to continue with the bidding process.
The four bidders who submitted their proposals are as follow: PSSGEO (Pre Stack Solutions-GEO) out of Norway; CGG Veritas Services UK Limited from the United Kingdom; Latitude Energy (from Guyana) in joint venture with Shearwater GEO Services Limited; and TGS Magseis of the USA.
In its tender document, the Natural Resources Ministry had stated that the objective of the assignment is to acquire, process and interpret high-quality 3D seismic data to facilitate exploration and potential development of hydrocarbon resources offshore Guyana.
Also the assignment is to ensure high-quality seismic data is available for effective evaluation during future bidding and licensing rounds. This publication had reported that at a press conference in July, Vice President, Bharrat Jagdeo announced that government went out to tender seeking this service and noted the importance of the surveys.
“We went (at) the last auction without any 3D-seismic so we didn’t have much data for the areas. So when you have less data, people don’t put in great bids because they don’t know what is there, they can’t interpret the data.”
Jagdeo said 3D-seismic may be conducted for the unallocated areas; however, this will not be paid for by the government. The data will however be shared with the Ministry of Natural Resources and other related agencies while interested oil companies will be required to pay for the information.
Seismic surveys can provide crucial information on subsurface rock layers. It involves emitting acoustic waves, recording their reflections and measuring their characteristics. Through this technology, oil and gas companies gain valuable insights into potential reserves.
Following the VP press conference, the People’s National Congress Reform (PNC/R) spokesman on oil and gas, Elson Low at press conference was keen to note that the revelation by Jagdeo during his presser came after government had hurriedly launched the country’s maiden bid round last year in the absence of seismic studies.
The Opposition argued that seismic studies would have allowed bidders to access much more detailed information about each block. As such, Low told reporters, “There was therefore understandable surprise when the government decided to push forward with the auction without the needed studies. Now, like a child who ran to play without doing his homework, Jagdeo has to go right back to conduct the very seismic studies he neglected.” It was reported that Guyana’s maiden auction launched in December 2022 featured 14 blocks but only eight received bids.
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