In a further sign of the global interest in Guyana’s offshore oil, Qatar Petroleum said yesterday it had agreed a deal with Total (TOTF.PA) to acquire a stake in the French energy giant’s two oil and gas blocks offshore Guyana.
According to Reuters, Qatar Petroleum said it will hold 40% of Total’s 25% participating interest in the Orinduik block, and 40 percent of Total’s 25% participating interest in the neighbouring Kanuku block.
The block’s other partners are Tullow Oil (TLW.L), with a 60% participating interest and EcoAtlantic with a 15% interest.
The continued trading of interest in Guyana’s blocks again raises the question of whether Georgetown is aware of the scale of the financial transactions taking place and whether it had extracted the best terms possible.
In June this year there was another signal of interest from the Middle East in Guyana’s oil.
It was reported that the United Arab Emirates will be lending assistance to Guyana in customs and taxation related matters. The announcement was made by Director General of the Ministry of the Presidency Joseph Harmon. He said that the government here has taken note of the Middle Eastern country’s capacity to invest in the oil and gas sector here.
