The Government of Guyana, through Minister of Natural Resources, Raphael Trotman, last Thursday signed a Petroleum Prospecting Licence and Production Sharing Agreement with the joint venture team of Tullow Guyana B.V. and Eco (Atlantic) Guyana Inc. for a concession of 1801sq. km, called the Orinduik Block, just offshore Guyana.
A release from the Ministry of the Presidency yesterday said that the agreement entails a work programme involving a geological and geophysical evaluation which will inform a 3D seismic acquisition, all within the initial 10-year period of the licence which is ten years.
According to the release, John McKenna, Exploration & Business Unit Manager, South America and Colin Kinley, Eco’s Chief Operating Officer, signed for Tullow and Eco respectively. British High Commissioner to Guyana, Greg Quinn also attended the signing ceremony.
In December last year, President David Granger met with McKenna.
Tullow a UK company has had years of exploration in Guyana’s waters and other parts of the region. It is presently in another joint venture with Repsol Exploracion Guyana Inc. in the adjacent Kanuku Block. The release said that Eco Atlantic is a junior independent company with Canadian origins.