Despite efforts to accelerate the clean energy transition, many countries in Latin America and the Caribbean are pushing ahead with plans to offer drilling rights for new oil and gas acreage.
Here is a look at the latest developments:
Brazil
Hydrocarbons agency ANP is currently discussing the possibility of unifying the different E&P bidding round regimes (open acreage, concession and production sharing), but only after the public consultation on this subject (scheduled to be concluded in mid-April) will there be a definition of this year’s calendar.
The areas included in the open acreage program are always available, but the realization of the public bidding session depends on a previous expression of interest by oil companies.
The realization of concession and production sharing rounds depends on a decision from the national energy policy council (CNPE/MME).
The usual calendar (except during the pandemic) included one open acreage round, one concession and one production sharing round.
The ruling Workers Party is not likely to offer rights for strategic, pre-salt areas (mostly production sharing system) on a regular basis, unless federal oil firm Petrobras is interested in acquiring them.
The largest hiatus of bidding rounds happened during the Workers Party administrations between 2007 and 2012, when Petrobras was too busy exploring and developing the huge pre-salt discoveries made in the 2000s, such as Tupi, Sapinhoá and Búzios.
Argentina
Neuquén province holds two exploration rounds a year. The process is led by provincial hydrocarbons firm GyP, which participates as a minority stakeholder in the blocks offered.
The first process of the year is underway and details of the second round should be published next half.
Some other provinces also conduct bidding rounds, but they seem to be on an ad hoc basis and are usually much smaller than those in Neuquén.
Colombia
President Gustavo Petro said upon taking office last August that there would be no new auctions for exploration blocks. However, officials have since said this decision could be reversed.
According to finance minister José Antonio Ocampo, a final decision will be made in May after the publication of data on Colombia’s oil and gas reserves.
Peru
Peru could also offer opportunities for blocks whose contracts will expire in the near term, but a lot will depend on the participation of national oil company Petroperú.
Barbados
Barbados plans to launch the licensing round for offshore acreage in April, according to Prime Minister Mia Mottley.
The process was due to begin in December but was postponed after companies requested additional time to evaluate acreage and data, and the need to complete amendments to the legislative and licensing framework.
Ecuador
According to the mines and energy ministry, 13 companies participated in the information and data session for the Intracampos II oil round.
Guyana
Guyana launched its first licensing round for offshore oil and gas exploration and production in December. It comprises 14 shallow water and deepwater areas.
Suriname
Companies have until April 28 to access the virtual data room for Suriname's 2022-23 Demerara bid round.
Trinidad & Tobago
The energy ministry plans to launch the competitive bid round for shallow water acreage in the coming weeks. The government opened nominations for 23 shallow water blocks last year.
Paraguay
Undeterred by lackluster results from previous calls, state oil company Petropar launched its latest open round for upstream hydrocarbons acreage last year.
The process is for blocks Petropar II (6,340km2), Petropar IV (8,006km2) and Petropar V (7,954km2), which drew no bids the last time the areas were offered in 2020, following failed rounds in 2017 and 2018.
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