Introduction
As indicated last week, today’s column will begin addressing 1] current estimation of Guyana’s recoverable crude oil resources 2] the fiscal metrics in the model PSA prepared for the impending public auctions of crude oil blocks; and, 3] policies linked to, or contingent upon, the public auctions of crude oil blocks.
Going forward, I shall pursue these topics in the order indicated above.
Resource estimates
I draw readers’ attention to the three publicly available estimates of Guyana’s recoverable crude oil resources
The XOM Website provides an estimate of 11.3+ bln barrels of oil equivalent, boe
The Authorities in their advertisements of the public auctions provided their first independent estimate [as distinct from reporting estimates], which I have come across. That estimate is 25 billion boe.