The PPP/C Government yesterday announced yet another extension in bidding for offshore oil and blocks and this time to September 12, saying it is because of plans to complete changes to this country’s regulatory framework.
Observers say the several extensions could signal low interest in the blocks and could unnerve investors who may be crafting bid plans. They say that if the government had planned properly there would have been no need for the multiple extensions.
“The Ministry of Natural Resources, on behalf of the Government of Guyana, is pleased to announce the extension of the Guyana 2022 Licensing Round’s bid submission deadline to Tuesday, 12th September 2023. The government’s continuous efforts to streamline and improve the petroleum regulatory framework and the resultant comprehensive feedback received from our stakeholders have led to this necessary extension,” a statement from the Ministry of Natural Resources noted.