Qatar, Total partnership ‘substantially unclear’ to Guyana – Dr Bynoe

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The country’s Department of Energy Monday said it was “substantially unclear” about the deal between Qatar’s national oil and gas firm and French company Total, a partner in the Orinduik oil block offshore Guyana.

It was reported that Qatar Petroleum will take hold of 40% of Total’s existing 25% participating interest in the Tullow-operated Orinduik block. Tullow Oil owns a 60% participating interest and Eco Atlantic with a 15% interest in the block.

“…what we’re finding here is Qatar Petroleum seeking to back into the Total agreement.

“But we can’t go further than that because it is still early days.

“We are in discussion with the Co-V (co-venturer) so we can have greater clarity,” Dr Mark Bynoe said at a press conference Monday at the Ministry of the Presidency in Georgetown.

“At this point in time, it is still substantially unclear for us.”

Dr Mark Bynoe

He said the Government has received “a transaction letter from Total” and is studying the document.

“Until such time that we understand the full implications – because this is not the normal farm-in that we would have seen – we’re not about to pronounce thereon,” Dr Bynoe added.

Saad Sherida Al-Kaabi, the Chief Executive of Qatar Petroleum has been quoted by the international press as saying: “We hope that the exploration efforts are successful. I would like to take this opportunity to thank our partners and the government of Guyana for their collaboration in this effort, and we look forward to working together in these blocks.”

The Orinduik block offshore Guyana measures 1,800 square kilometres.

Al-Kaabi added: “We are pleased to expand our global exploration footprint into Guyana together with our valuable, long-term partner, Total, in these offshore blocks in this prospective basin.”

Tullow, as an operator, is currently drilling the Jethro-1 well in the Orinduik well and expects to penetrate the reservoir next month. After that, they are expected to proceed to Joe-1 well.

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