Guyana's coming auction of offshore oil exploration blocks has drawn interest from at least 10 companies including Shell, Petrobras and Chevron, according to a Reuters report quoting sources close to the matter.

The South American country is offering 14 offshore blocks, a move to speed economic development and reduce an ExxonMobil-led consortium’s dominance of its oil sector. Winning bidders are expected to be picked next month.

Guyana Vice President Bharrat Jagdeo is set to speak at the CERAWeek energy conference in Houston on Monday to drum up support for the country's first competitive bidding round.