The partnership of Total-Energies, Qatar Energy, and Malaysia’s Petronas, remains the only oil blocks auction bidder that has been given Cabinet’s green light to proceed to a contract as the five other bidders are reviewing the legal agreement or seeking partnership buy-ins,” Vice President Bharrat Jagdeo yesterday said.
“That is cleared with Cabinet already and is moving forward… the only one that went to Cabinet thus far,” Jagdeo said.
Regarding the others, when asked yesterday for an update on the process, he surmised, “Most of the others are still in discussion on the PSA [Produc-tion Sharing Agreement] because a lot of them have either issues with the PSA, [in terms of] the legal terms… not the fiscal terms… not the other obligations, they’re saying ,it’s too rigid. We’re having discussions. Some are still looking for partners and operators,” he said when asked yesterday for an update on the process …so unless those issues are dealt with beforehand, in the negotiations, it’s not going to go to Cabinet to make the final [decision].”
