The Department of Energy (DE) is currently wrapping up the contract details for a seismic study that should begin this year to gather further data to guide the bidding process for Block C, an offshore ultra-deepwater area to the north-east of the lucrative Stabroek block, according to Director Dr. Mark Bynoe.
Bynoe told reporters at a briefing on Monday that the procurement arrangements for the contracted company to undertake the study will soon be completed and he would then inform the public. “We are waiting on them to sign off and then we can make a formal declaration,” he said.
In July of last year, several companies placed multi-million US dollar bids to undertake the offshore study: Petroleum Geo-Services (PGS), which bid US$28.5 million; TGS Geological Company, which bid US$28.7 million; Fugro USA Marine, which bid US$10.9 million; GEREX Limited, which bid US$7.3 million; ION Geophysical Corporation, which bid US$44.8 million; and CGG Services UK Limited, which did not place a bid at the time.