Guyana is working to develop a new fiscal regime and create a competitive allocation process — most likely through bid rounds — for offshore acreage as its hydrocarbons sector continues to mature.
“Guyana will soon have to place in the global domain the fiscal regimes to be transitioned to, and the kind of contract to be used going forward,” Newell Maurice Dennison, a commissioner with Guyana’s Geology & Mines Commission, told an event at Rice University in Houston this week, while pointing out that there was more work to be done.
