Guyanese company is among several major international oil companies that have won bids to explore for oil offshore Guyana.
In making the announcement on Wednesday, Vice President Bharrat Jagdeo said the company SISPRO Inc, is among several major international oil companies that have won bids to explore for oil offshore Guyana
“This is a very risky sector and I’m extremely pleased that the locals have been able to organise themselves to work with some foreign companies and put in the bids,” he told a news conference. He praised them for seizing the opportunity by “actually doing something” rather than “sit on the sidelines” like a number of critics.
Jagdeo disclosed that SISPRO Inc. has won exploration bids for one concession each in the shallow and deepwater. This means that they have to fork up a US$10 million signature bonus for the shallow water block and US$20 million for the other in the deepwater.
SISPRO INC (Guyana) is chaired by Dr Melissa Varswyk. Other team members are Secretary and Executive Director, Abbigale Loncke- Watson; Executive Director, Ayodele Dalgety-Dean, and Executive Director, Dee George.
According to Dalgety-Dean “(We) had every confidence that we would get the blocks” and work in the best interest of all Guyanese. “After all, we’re an indigenous company. We’re aiming to build generational wealth for all Guyanese and this is super-important to us as we’re sure it is for the Guyanese government.”
Dalgety-Dean said her company was prepared with its signature bonuses, project financing and work plan from seismic work through to development and production.
Jagdeo also announced that the ExxonMobil-led consortium and the France-headquartered TotalEnergies are among those that have won bids in the South American nation’s inaugural competitive bid round.
In addition, shallow water blocks have been awarded to a consortium of TotalEnergies, Qatar Energy and Petronas; the Nigeria-based International Group Investment Inc; and the American-owned Liberty Petroleum Corporation; ExxonMobil, Hess and CNOOC.
Deepwater blocks are awarded to Delcorp, a Guyanese-registered company made up of two Saudi Arabian companies Watad Energies and Communications Ltd and Arabian Drilling Company, and SISPRO Inc.
Jagdeo said government was willing to consider “minor changes” to the Production Sharing Agreement (PSA) but again ruled out changes to the fiscal terms and aspects related to transparency and accountability.
He said the government would not sign a PSA with ExxonMobil if their demands are “extreme”.
